Top 5 tips for landing rental property on Coast

Competition has never been fiercer than it is right now when it comes to landing a rental property.

Vacancy rates have never been tighter than they currently are. Picture: Supplied

OPINION

Competition has never been fiercer than it is right now when it comes to landing a rental property in Queensland.

The Sunshine Coast has a vacancy rate of 1 per cent overall.

Caloundra and Gympie have the tightest vacancy rate in Queensland with just 0.5 per cent of properties vacant and Noosa is also very tight at only 0.8 per cent.

Landlords, there is such a thing as too much rent

Don’t take a bath to own a holiday home

Gone are the days of being cavalier when it comes to finding a rental property – you need to be dogged in your approach to stand out from the pack.

Here are my tips to bagging that dream rental in this historically competitive market.

Be organised – have all your documents ready

If you’ve not got your ducks in a row, forget it.

There have been hoards of people turning up for viewings and most of them come armed with cover letters, personal identification, previous tenancy references, personal references, bank documents, pay slips and anything else that can support their application.

You definitely need to have all of these ready to go, digitally to upload and ideally on paper as well.

If not, there’s no point even turning up.

It might also be worth checking your credit score before applying for anything.

Property expert Tamara Wrigley says potential tenants need to be organised when they view a home if they want to have a chance of landing it. Picture: Supplied

Have your rental bond ready in advance

It might seem obvious, but so many potential tenants miss out on the rental they wanted because they don’t have the bond ready.

Whether it’s out of your own pocket or a loan, make sure you have the cash ready to go.

Build up rapport with the agent

Real estate agents can get a bad rap but if you get them onside they can become a friend for life.

They know the area inside out so even if you don’t manage to land the first house you meet them at, if you establish a nice friendly relationship from the beginning, you’ll be front of mind when the next suitable place comes up.

If it comes down to just a few applicants, the agents steer usually influences who the landlord chooses.

Make it be you.

They’re also the best eyes and ears on the ground when it comes to purchasing a property.

Dress smartly

While turning up to a viewing in a top hat and tails might be overdoing it, you definitely want to make the right impression, so be groomed, neat and tidy.

While estate agents won’t be judging you on your appearance, the owners may be there, and the neighbours will no doubt be peering over the fence.

Someone polished will come across more desirable than a scruff.

Follow up

Most of the time agents will be on the phone to you before you’ve even got home.

But if you’re really keen on a property, submit an application and be sure to follow up – quickly.

If you’ve not heard anything within 24 to 48 hours, follow up again.

If it’s down to just a few of you, the person who calls and wins them over may be the one that gets the property.

According to figures just released by the Australian Bureau of Statistics, capital cities had a net loss of more than 11,000 people from internal migration in the three months to the end of September, with Sydney losing the most (7800).

Brisbane gained the most people through net internal migration (3200) – and it’s showing in its rental vacancy rates, with families looking for rental properties in Greater Brisbane facing intense competition in the tightest market in 10 years.

In the Gold Coast, vacancy rates remain below 1 per cent, although there is slightly less competition in the northern suburbs, while the Sunshine Coast has a vacancy rate of 1 per cent overall.

There’s also been a phenomenal boom in new home sales, with a mass domestic migration to the Sunshine State.

Building companies are reporting a 400 per cent increase in demand for quotes from residents in Sydney and Melbourne, putting even more pressure on the rental market as they look for temporary homes until theirs are built.

Tamara Wrigley is a Sunshine Coast-based media commentator, award-winning businesswoman and property mogul, who bought her first property at the age of 21. Follow her Instagram page and Wrigleys Renos renovation page.

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