“How long should it take to have an application approved / processed? I don’t want to be a hassle to the agent and contact them for an update too soon.”
How does application turnaround work?
We asked Property Management Team Leader at Harcourts Kingberry Townsville, Tamara Weight for her advice:
“Most agencies will aim for a 24-48 hour turn around, however the application form will give you an indication of what their general response time is,” Tamara said.
“Many agencies offer a same-day response, particularly in a slow rental market, but it is largely dependent on their ability to verify all of the information on the form including past rental history, personal references and employment.”
“To speed up the process, ensure that all parties to the lease have submitted their application and supporting identification, the application is fully completed and signed and all phone numbers and contact details are correct.”
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 these forms should always be treated as 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”