Couple’s tips to securing a new home in Brisbane’s rental crisis
A couple reveals how they managed to find a new home in just a week despite Brisbane being in the middle of a rental crisis.
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Being prepared to switch sides of the Brisbane River, offering to pay a little extra rent and submitting multiple applications led to Charlotte and Tim Melville securing a house in the middle of a rental crisis.
It took about a week for Ms Melville to secure a new lease and she considers themselves very fortunate.
In doing so, she now has to travel from Everton Park to South Brisbane to work after previously residing in Belmont.
Their rental started in the lead-up to Christmas when the couple was given a month’s notice that their lease would not be renewed.
That’s when they immediately went into rental battle mode to find a new home and their mission was a house because the needed a yard for their dog.
“We were told our lease wasn't getting renewed the week before Christmas and it was ending in January and we tried to find something as soon as possible,” Ms Melville said.
“So immediately we started looking and went to as many inspections as we could and I’d say we went to about five, and thankfully there were two that were good and we applied for both.
“We did the usual type of things to secure a rental and one of them was that we offered $10 more and that was the one we were approved for.”
Deciding whether to move to the north side or remain near Belmont was not really an option, she said.
“We were on the southside at Belmont and finding a new rental made it extremely difficult because there are so few houses rentals and it's particularly expensive on the southside.
“So we moved to the north side and it’s a really nice place.”
Securing a rental property has never been harder with Greater Brisbane’s rental vacancy rate at just 0.9 per cent while the state’s vacancy rate sits at about 0.7 per cent, according to the latest SQM Research data.
REIQ classes a ‘tight’ rental market with less than a 2.5 per cent vacancy and a ‘healthy’ one between 2.6-3.5 per cent.
Offering to pay extra rent is one way to get yourself noticed, but so is being presentable and courteous at house inspections, says Gold Coast real estate titan Andrew Bell.
“You have to make yourself the most desirable tenant possible and first impressions are important. That means carrying yourself well and looking presentable,” the CEO of Ray White Surfers Paradise said.
Overall, anyone hunting a property can expect to compete against more than two dozen applicants for the residence, said Tara Hawley from Harcourts Unite.
“If you like a property apply straight away, but prepared that as many as 30 other people could be applying for the same property,” she said.
“Make sure your current property is looked after and the payments are on time and above all else, be honest and upfront.”
OUR EXPERT’S ADVICE TO GET AHEAD OF RENTAL PACK
1. TIME
Give yourself ample time to find a place to rent. If your current lease is going to expire, give yourself two months to find another abode.
2. BE PRESENTABLE
Real estate agent provide honest feedback to any landlord who asks about an applicant and that includes attitude and presentation!
3. HAVE YOUR HOUSE IN ORDER
On the day of inspection have all your paperwork, references and your 100 points of ID completed.
4. MULTIPLE APPLICATIONS
Like a prospective house buyer, make multiple applications to increase your chances of being chosen.
5: BROADEN YOUR HORIZONS
Do not get fixated on a suburb, especially areas near universities or, hospitals. Be prepared to sacrifice convenience of location and travel times.
6. BE HONEST AND UPFRONT
Little white lies may be OK among friends, but not with real estate agents. Be upfront and tell the truth.
7. PATIENCE
Rental estate agents are under the pump, so refrain from contacting them unless necessary, otherwise you risk getting them off-side.