50 applications per house: How to win rental race, snag sales

As the rental market continues to tighten and stock remains limited across the Coast, experts have shared advice for renters and buyers.

Local real estate agents say they are receiving about “20 to 50 applications” for each property advertised for rent daily.

While they acknowledge owners are taking advantage of the housing demand increase, which has allowed them to be more “fussy” with who they rent their properties out to, experts say there’s ways to put yourself at the top of the list.

Hervey Bay’s Vision Property Management Real Estate Agent Graeme Bailey said tenants who would usually be able to secure housing were now having to “push” for what they’re after.

“People are having to really drop (standards for) what they would normally look at to be able to afford (the property),” Mr Bailey said.

“Normally, (people) renting for about $350 a week are now looking $450, or even in the $500’s, because there just aren’t any other options.”

Hervey Bay’s Vision Property Management Real Estate Agent Graeme Bailey suggested adding more funds upfront would provide higher chances of having rental applications looked at.

Mr Bailey said the price increase caused tenants to add more people to their applications with the aim of shared housing, which made owners hesitant because they “don’t want those people to fall out.”

“Just keeps sending your application to the same property (manager),” Mr Bailey said.

“From a housing perspective, if (tenant applications) … have more than the bond offering upfront … as a guarantee … another four or eight weeks rent, (owners) have a lot more protection and they’ll probably take that application more seriously.”

Hervey Bay’s Prime Agents Lead Agent Michael Batterham told the Chronicle the “unfortunate situation” with the lack of stock on the market meant properties for sale were also “going straight away”.

“At the moment, with it being so hard (to find housing), if you‘re looking for a property and you keep missing out on it, you’ve got to form an association with a good agent in town,” Mr Batterham said.

“Properties are coming on the market and selling virtually straightaway, because there is a lack of property coming to the market … people that are getting the property are the people that have formed a relationship with an agent.

He also said people looking for housing on the Fraser Coast should have their finances in order first.

“If they’re not pre-approved or ready to go, that makes it a little bit harder for them to win the property,” Mr Batterham said.

“Don’t think that you’re not going to have a look today (for new properties) … because there’s stuff coming on the market every day, you have to be watching every day.

“If you’re looking for a property, don’t stop looking.”