How to get your first rental property

WATCH: How to get your first rental property

Transcript

00:00It is absolutely no secret that finding an affordable rental in Australia can be really

00:05hard. And as internal migration figures pick up again, more and more of us are going to be looking

00:09for places in regional centres. So what can you do to make sure that you get a home in a timely

00:16manner that fits your needs? Well, if you've never rented before, it's important to have some kind

00:21of proof that you are financially responsible and will be able to afford to pay. That might mean

00:26transferring an amount roughly the equivalent of rent into a different bank account each week for

00:32a period of months that you can show that you can theoretically afford the rent. It may also mean

00:36showing bank documentation and ledgers that you are saving. You might have a letter of recommendation

00:43from a boss to say that you are securely employed and that you will be spending about 30% or less

00:49of your income on rent ideally. There are other things you can do like meeting with an agent

00:55face to face. Turning up at a rental inspection to show that you are clean, tidy would be somebody

01:02worth giving that house to. A lot of people think that they're not going to get into the market because

01:08they've never rented before, but everybody has been in that position at some point. So it's really

01:13helpful if you can have clear documentation of your financial history and particularly employment,

01:18some kind of contract for everybody moving into the house or at least going on to the rental form will

01:25really help you with that. If in doubt, it's also helpful to maintain relationships with specific

01:31rental agents who may be able to tell you when different places are coming up so that you're able

01:35to get a little step ahead. Writing letters or even talking about the price point that works for you

01:42can also be helpful. Best of luck trying to find your rental for the year.

01:48For more information, visit www.fema.gov.au