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5 winning rental application tips

As many of you would know the rental market across a lot of Australia can be highly competitive. You may well have found yourself at a property inspection looking through an apartment with 40 other eager renters.

So how can you give yourself the best chance of being the successful applicant? How can you create a winning rental application?

To help shed light on this we spoke to Justin Butterworth, CEO and Founder of Snug.com, Australia’s first rental community platform, about what makes a winning rental application.

Justin stressed the importance of having a complete and verified online rental profile that is ready to go is key to success. One that contains up to date rental history, employment and completed background checks. He states that “timing is critical and having your profile ready ensures renters can act immediately and they don’t need to spend time collating forms and information. By being able to submit a completed rental application on line while you’re at the property inspection can prove to be the clincher in a rental race.”

So what information should be included in your online renter profile and where can you create this?

Creating your online rental profile

Creating an online rental profile that can be saved, amended and shared with agents is an important first step. Justin explained how his industry leading platform, snug.com can help here. “Our user friendly interface guides renters through the profile building process to ensure they have created the best possible rental profile. The service verifies each renter’s rental history and completes their background checks so their application is ready to go, giving them a decisive advantage over other renters.”

Justin explained “renters can re-use their Snug profile to securely apply for a property anywhere. By having a complete profile ready to go, saves time and trouble with multiple forms and enables prospective tenants to get their application in faster, maximizing their chance of success.”

Snug also enables renters to link their profiles when applying and submit a stronger joint application as a household group. The platform keeps all parties informed as their application progresses to approval.

What information do you need to create your profile?

Rental History

Rental history includes your current and previous rental information such as the address of the rented premises, lease start and end dates, amount of rent and details of the property owner / manager. The Snug platform requests a rental reference from the outgoing property manager to attach to the renter profile. This saves time for the ingoing property manager assessing your application suitability.

The key aspects property managers are looking for are that you paid the rent on time, looked after the property and were easy to deal with on matters such as repairs or inspections.

If you have a good rental report you’re more likely to be approved for a rental than if you have a poor rental history report. It’s important that you understand what’s in your rental history report so you are not faced with any surprises.

This can be a crucial addition to your application.

Employment & Income

Significant scope is placed on your ability to pay rent, as most often landlords will prefer tenants that have a constant and reliable source of income.

Adding a few recent pay slips and bank statements to your application will not only show proof of employment, but should also allay any fears a landlord may have over missed payments.

Keep in mind the property manager or landlord may contact your employer to validate you are still working there so it’s a good idea to word them up.

Supporting Documentation

Proof of identity. You will need 100 points of Identification to prove you are who you say you are. They must be in digital format and in some cases, legally witnessed and stamped.

Cover letter

Most landlords don’t require a cover letter, but preparing one can set you apart from other applicants and increase your chances of securing a rental.

Write a few paragraphs about who you are, what do you do for a living and perhaps the reason for your move. It’s a good idea to be professional but not overly formal that your personality doesn’t shine through. Give a brief overview of your rental history and make mention of any special circumstances such as pets. If you are applying for a number of properties and have some time – it may be worthwhile if you tailor each of the cover letters and mention the features of the property that appeal to you the most.

Find the best matching property

Snug.com doesn’t just finish there…its patent pending Snug Match score helps renters understand how their profile matches up to the property owner’s requirements and helps renters find their most suitable new home.

For instance, a property owner may be looking for an experienced renter willing to sign a long term lease and to be paid fortnightly for a studio apartment in Newtown. The renters profile would be analysed based on their rental history, employment and background checks and assigned a relevance score. Property managers would then use this score to identify the most suitable applicant. Snug Match enables them to systematically find the most suitable tenant for each property.

Snug Match helps renters understand how their profile aligns to the property owner’s requirements and gives renters an opportunity to personalize their application to help them lift their Snug Match Score to be more suited to a property they love.

This is a new age for renters and landlords – a transparent way to find the right tenant for the right property. Snug Match = happy landlords and happy tenants. We buy house in Daytona Beach.

6 Benefits of downsizing

Downsizing has a number of key benefits not just for empty nesters, but for us all as living large doesn’t always mean bigger is better.

If you love saving money, energy, resources and enjoy saving time on the up keep of a home, downsizing your home may be the answer. Here are 6 benefits of selling up and moving into something smaller.

Less stuff

There’s a problem with space in houses: you have to fill it. In most cases, you won’t want to simply have vast expanses of nothing and will require purchases like furniture, rugs, art and more to add colour to these areas. This means you won’t only be paying more for the bigger house but will have to take into account these extra costs as well.

Save stress and money

Living in a larger home requires more time spent on its up keep. From cleaning, maintenance, furnishing, outdoor home upkeep and the cost to run all of these can lead to a home that is stressful. By downsizing, you’ll have less responsibility, smaller workload, increased cash flow and greater flexibility which all help reduce stress. This frees you up for fun, spending time with family, getting more rest and just enjoying your home rather than being a slave to it.

Spaced out

If you have a family, there are some benefits that could result when buying a smaller home – family members are more inclined to bond, work together, be organised and compromise with one another. Nothing like sharing a bedroom and a closet with a sibling to learn how to share and be patient…let alone the fun of having someone to talk to when you lie in bed at night. A cosier home is often the way to a happier domicile.

Energy Bills

Energy bills, which continue to climb, are nothing to shake a finger at. For instance, according to Expatistan’s Cost of Living Index, the average utility bill for two people in a Sydney flat was $202 a month. Considering that larger homes require more power to stay warm or cool (depending on the season) and lit, you could shave quite a bit off your energy expenses by living in a smaller home.

Furthermore, you’ll be doing your part for the environment by consuming less energy that is often produced by dirty fuels.

Start of a new chapter

By downsizing and reducing your costs such as your mortgage along with maintenance and energy bills, it can often mean you have extra money in the bank that can be spent on you and enhancing your lifestyle. Perhaps it’s a trip to one of your bucket list destinations, or an annual visit to family interstate. Also travelling can be less of a hassle when you have downsized, especially if you live in an apartment as you can normally lock it up and go, rather than concerning yourself with ensuring your home has enough security while you have gone.

Interestingly by living in a smaller home, it will reduce your consumption. If there is no place to put it, you’re much less likely to buy it. That means less money is spent on clothing, food and consumer goods and more money that can be spent on enjoying your life.

Retiring and Downsizing

Have the kids left home and your finding yourself rattling around in the house that you bought for the family? Downsizing can help release capital and provide you with a significant lifestyle change. It also offers the added benefits of reduced outgoings on utility bills, council tax, repairs and maintenance which can offer peace of mind, given the rising costs of these items.

In addition, there are the practical benefits of downsizing your home for retirement and moving to a smaller property as they are easier to manage and maintain, particularly should your degree of mobility start to lessen.

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