“How long should it take to have a rental application approved or processed? When is an acceptable time to follow-up on the property?”
Feature agent: Tamara Weight, Property Management Team Leader at Harcourts Kingsberry Townsville.
We spoke to Property Management Team Leader at Harcourts Kingsberry Townsville, Tamara Weight, about what happens once you submit your rental application.
“Most agencies will aim for a 24-48 hour turnaround. However, the application form should give you an indication of what their general response time is,” Tamara said.
“Many agencies offer same-day responses, particularly in a slow rental market. However, it’s largely dependent on their ability to verify the information on the form including past rental history, personal references and employment.”
“There are simple ways to speed up this process. Ensure you have submitted your application and supporting identification, completed all details, and checked phone numbers and contact details are correct.”
Renter pro-tip: Waiting to hear back? Don’t rely on the agent being available immediately to respond or get in touch. It’s always worth a follow-up email or phone call to check the agency has received your enquiry/application.
Tamara said many agencies now use an automated system that will send a series of text messages to update tenants on how their application is progressing.
“I believe in treating applications like a number 1 priority,” she said.
“Tenants are a valuable asset to both the owner and the rental agency, and it is in everybody’s best interest to finalise a rental application as quickly as possible.”
Don’t forget your rental bond.
A landlord/agent will ask for a rental bond, ‘bond’, or ‘security deposit’ when you agree to rent a new property. This amount is usually equal to one months’ rent, but it varies from state to state. You will need to have this money ready when you sign the lease.
RentBond is a convenient way to pay your rental bond. Have you been approved for RentBond? We’ll pay your loan either directly to your agent or your nominated bank account. Find out more about RentBond here.
Rental application FAQs
Q: What can I do to improve my rental application? Being organised is the best way to improve your chance of application success. Ensure you have all the necessary documents and identification to accompany your application. Remember to provide plenty of contact numbers/emails for the references you include.
Q: What can I do to improve my chances of success? Most agents/landlords will look for evidence of good rental history. Your ability to pay rent on time and maintain properties will be vital to impress an agent.
Q: Why do I need to provide so much information with my application / Renter Resume? Aside from showing you will be a good tenant for an owner, most properties come protected by a landlord insurance policy. These policies require documented evidence to confirm your proof of identity, proof of income/ability to meet rental payments or evidence that you will make a good tenant.
Q: What if my application isn’t approved? There are often several applicants for a property, and an agent/owner can only choose one tenant.
If this is the case, the agent should let you know once they receive confirmation from the owner. Are you interested in applying for another property managed by the same real estate agency? You may be able to request to transfer your application to that property, providing you have seen the property first.