Real estate was one of the industries greatly impacted by the pandemic. It was a market we’d never seen before that put great strain on supply, both for new sales and rentals.
The pandemic inspired lifestyle changes, where hundreds of people from interstate relocated from cities to towns, seeking a higher quality of life.
Not only are people moving to South Australia, young people who otherwise would’ve left for career opportunities are staying put. As remote work has become the norm, so has the competition for houses for rent Adelaide Hills. In addition, the extra demand from recent sellers who are in a transitional period or have decided to rent for foreseeable future.
Recent statistics show Adelaide has the toughest rental market in the nation. As of June 2022, rental prices went up for the fifth consecutive quarter. It’s an availability issue, just like we’ve seen with the lack of supply of new houses for sale. According to the Real Estate Institute of Australia, Adelaide has only 0.6% of dwellings vacant.
Don’t be put off by these numbers. There’s no doubt it’s still a tricky market with many variables, but this just calls for extra preparation.
As with everything in real estate, planning and patience are the key. This is where we come in, as your family of Adelaide Hills real estate agents.
You can never start planning too early
Just as we like to say with the process of buying a house, you just need one. The same goes for applying for a house for rent. You only need to get accepted once. With real estate, you can never be too prepared. If you know the end of your lease is coming up in three months, start getting your documents in order.
The checklist to rent a house:
o 100 points of ID: Driver’s licence, passport, and Medicare card
o Previous rental details including the most recent lease and reference letters. Contact your referees to let them know to expect a call from a landlord.
o Proof of employment and recent payslips or business income via the ATO notice of assessment. You want to show a consistent source of income. For the rent to be classified as ‘affordable’, it mustn’t exceed 30% of your household’s annual income.
An opportunity to showcase yourself
It’s easy to think of the rental application as an arduous part of the process. Most prospective tenants will think like this, too. So, this is your opportunity – to utilise the ‘real estate’ of your cover letter page to display your personality. Landlords want to know three things about you:
1. Why you’re suitable to rent the property
2. What your financial situation is
3. Where you’ve lived before
Too often, applicants focus on the facts of the second two. They provide proof of income (pay slips and tax returns), previous rental details and references from past landlords. What’s missing is the chance for the landlord to get to know you.
You’re better off applying for fewer Adelaide Hills rental properties and spending the time to communicate why you’re the best applicant.
Most landlords don’t require a cover letter, but if you can talk about why the house appeals to you, it’ll set you apart. Let your personality shine through. Real estate is an emotional transaction, especially for landlords who are choosing a tenant to live in their investment. This home builds their family’s future.
Don’t just ‘apply’. Let us advocate for you.
As your extended family of Adelaide Hills real estate agents, we empower you through every move and milestone. We don’t just help you find a new Adelaide Hills rental. We’ll guide you on your real estate journey, through every life stage. We focus on matching your lifestyle and property goals with the right property and landlord.
We get to know you personally, so we can best represent you. For over 20 years, we’ve been supporting sellers, buyers, landlords, and renters. We understand what landlords look for, so we can put you in front of the right ones.
It’s this relationship piece – bridging renters and landlords – that makes a successful application.
Start your Adelaide Hills rental search. Let’s plan your rental strategy and make you the most prepared applicant.