Renting in Canberra with Block Real Estate
At Block Real Estate we believe that by providing excellent service to our tenants as well as landlords creates long lasting relationships and provides a win-win solutions to all involved in the rental property market.
Our commitment to providing the best possible experience to our tenants is reflected in our Tenant Relationship Management Policy below:
- Professionalism. Our property managers hold some of the highest qualifications in the industry and utilise the latest property management software systems.
- Privacy. We respect our tenants’ privacy and confidentiality. All of our procedures, communications and date storage comply with the relevant legislation, as well as always keeping in mind the interests of our tenants.
- Promptness. At Block Real Estate we endeavor to address any tenancy related issues as soon as practically possible.
- Positivity. Our property managers consistently strive to provide our tenants with a positive and hassle-free tenancy experience.
Renting in Canberra – Information for Tenants
With Canberra’s current vacancy rates sitting at below 1 percent (as of May 2018) getting into the perfect rental property may seem like a really difficult task. However, prospective tenants can increase the chance of securing the accommodation that they desire with some prior research and preparation.
Before commencing the rental application process it is important to undertake research of the current rental market and vacancy rates in a particular area of interest. While the open source data (such as SQM Research or ACT Government information circulars) can provide some excellent macro-level insights, this should be further supplemented by some research on major online property portals such as www.allhomes.com.au and www.realestate.com.au. How long do the property ads run until the properties are rented out? What are the rental ranges for the properties of interest? What are the suburbs of interest in terms of preference ranking (A,B,C,D, etc).
A good understanding of the market will provide you with the ability to make informed decisions and understand what is a fair rental range for the properties that you are looking at. Once you have all of the required information and select the property of interest, you should be ready to commence the rental application process. It is important to note that being pro-active and engaging with the real estate agent early will maximise your chances of securing the property. Here are some tips that will assist you in this process:
1. Contact the agent. Contacting the agent and building positive rapport with them early will demonstrate to the agency / lessor that you are a genuinely interested and motivated tenant. This little bit of effort can turn the agent into your personal advocate during the application process.
2. Complete the rental application form. Most of the agencies will have an application form that will require you to confirm your identity, confirm your financial capacity to pay bond / rent and provide personal or professional references. As the agent is under the legal obligation to represent the lessor’s interests they must ensure that any prospective tenants have the ability to meet their rental obligations for the duration of the rental agreement.
3. Do your homework. You should ensure that your referees are aware of being nominated and have agreed to act as your referees. You should also have the copies of all required supporting documentation readily available to be submitted with your rental application. Most agencies will require you to provide the following:
- 100 points of identification (including a primary document such as a Driver’s License or a Passport)
- Proof of current address
- Proof of employment and income (2 of most recent payslips, bank statements or Centrelink payment statements)
- Previous / current rental history and / or referees
4. Submit your application and follow up. Once all of the required documentation is submitted correctly in most cases you should get a response within 1-2 days whether your application has been accepted. During this time it is a good idea to call the agency and confirm that they have received your application and whether anything else is required.
5. Application approved. If you have been successful in your application your agent will contact you and organize a time for the ACT Standard Tenancy Agreement to be signed. Once the Agreement has been signed you will be required to provide the necessary bond (4 weeks is usually required in the ACT) and rent in advance (normally 2 weeks). You will then be issued with the keys to the property, remote controls for the garage (if applicable) and the Initial Condition Report (ICR). The agent will also provide you with a copy of the Agreement, provide you with a receipt for the funds collected and will deposit your bond with the ACT Office of Rental Bonds.
6. Move in. Once everything is set you can move in and start enjoying your property. One of the first tasks should be reviewing / annotating the ICR and providing your comments for future reference. Should any significant issues or discrepancies be encountered you should contact the agent – the best time to address any issues is within the first couple of days of moving in. You will also need to connect any of the utilities your require in your name at the beginning of your tenancy.
7. Enjoy and communicate. Once you have settled into the property you should feel free to contact your property manager and maintain a positive relationship. Early communication of any maintenance requirements or changing rental requirements (such as the expected vacation date) will build mutual trust and ensure that your agent is providing you with the best support possible.
If you have any questions about renting in Canberra please get in touch with our friendly team.
Call 1300 090 450 or contact Patricia directly on 0424 943 516 or firstname.lastname@example.org.