{"id":9283,"date":"2019-08-25T23:00:30","date_gmt":"2019-08-25T23:00:30","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/how-to-get-a-rental-property-with-no-rental-history\/"},"modified":"2019-08-25T02:51:31","modified_gmt":"2019-08-25T02:51:31","slug":"how-to-get-a-rental-property-with-no-rental-history","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/how-to-get-a-rental-property-with-no-rental-history\/","title":{"rendered":"How to get a rental property with no rental history"},"content":{"rendered":"

 <\/p>\n

\n

Like many firsts in life, landing your first rental lease can be challenging.<\/strong><\/p>\n

Landlords use rental histories to find the most reliable tenant for their home, which means first-time renters are at a disadvantage when it comes to securing a property \u2013 especially when there\u2019s lots of competition for a home and all the other applicants have rental histories. <\/span><\/p>\n

So what can you do to get a rental lease if you\u2019ve never had one before?<\/span><\/p>\n

\n

\"Woman<\/p>\n

Finding a rental<\/strong> can be challenging.<\/p>\n<\/div>\n

Fortunately, supplying a clean rental history is far from the only way to prove your reliability, explains Julie Tagg, property manager of Paul Flynn Property Group in Queensland. <\/span><\/p>\n

Here are her five top tips to help you secure your first lease:<\/span><\/p>\n

1. Find a guarantor<\/h2>\n

Above all else, landlords want to make sure that you\u2019ll pay your rent on time.<\/span><\/p>\n

One of the easiest ways to give them peace of mind is to find a guarantor \u2013 someone who can support your application and promise to pay your rental payments should you fail to meet them. <\/span><\/p>\n

\u201cYoung people in particular may get a guarantor \u2013 parents or a family member \u2013 to back their application, which gives a guarantee the rent will be paid on time,\u201d says Tagg.<\/span><\/p>\n

\u201cIncome may be tight and offering a guarantor can give young people that all-important start in the rental market.<\/span><\/p>\n

\u201cRemember, once you have six months on your rental record, you are on your way.\u201d<\/span><\/p>\n

2. Set up a direct debit<\/h2>\n

Many rental offices will insist on tenants using a direct debit payment system for rent. But, even if it isn\u2019t required, it helps to offer<\/a> it as part of your rental application.<\/span><\/p>\n

It shows that you\u2019re committed to paying your rent on time, which, again, is one of the most important competencies when it comes to renters.\u00a0<\/span><\/p>\n

If some or all of your income comes from Centrelink, remember you can use its Centrepay automatic payment system.<\/span><\/p>\n

This makes direct rent deductions from your social security payments and pays them to your private rental agency.<\/span><\/p>\n

\u201cWe use that quite a lot with tenants and it works very well,\u201d Tagg says.<\/span><\/p>\n

\n

\"Credit<\/p>\n

Offer to set up a direct debit payment system to show commitment to paying rent on time.<\/p>\n<\/div>\n

Apply for multiple rental properties with one application form using 1Form<\/strong><\/p>\n

Show proof of regular payments<\/h2>\n

Have you ever bought an appliance or electrical good with a finance contract? If so, showing your property manager proof of regular payments will go a long way towards proving your financial trustworthiness. <\/span><\/p>\n

Any statement that shows a record of regular payments \u2013 even if it is not a rental situation \u2013 can help your case, says Tagg.<\/span><\/p>\n

\u201cWhat we need to show our property owners in prospective tenants\u2019 applications is consistency and commitment.\u201d<\/span><\/p>\n

Provide evidence of your income<\/h2>\n

Tagg confirms income is a big one for first-time tenants. And the best way to prove you earn enough to service your rental payments is to ask your employer for a letter of reference. <\/span><\/p>\n

The letter should include your exact salary, how long you\u2019ve been working at the company and, ideally, a few sentences that suggest you\u2019re doing well and unlikely to be laid off anytime soon. <\/span><\/p>\n

If you\u2019re a freelancer, you\u2019ll need to provide as much information as possible about where your income comes from and how often you get paid. <\/span><\/p>\n

If your grandparents send you $20 a week to \u201cbuy yourself a little treat,\u201d put it on the application. Every little bit helps to prove you\u2019re in the financial position to pay your rent on time.<\/span><\/p>\n

How do you spend your money?<\/span><\/p>\n

Similar to how banks work out if you can service a home loan<\/a>, property managers use a 30% formula when deciding if you can afford a rental home.<\/span><\/p>\n

In a nutshell, if rent is $300 per week, you\u2019ll need to show regular net income of $1,000 per week ($300 = 30% of $1,000).<\/span><\/p>\n

If you only earn $900 net income per week, you may struggle to get the lease.<\/span><\/p>\n

However, Tagg says there are always exceptions, and if you can show exactly how you spend your money in a typical week, it may <\/span>get you over the line<\/span>.\u00a0<\/span><\/p>\n

\u201cIn the end, it\u2019s up to the prospective tenant to be proactive and prove their case to us,\u201d says Tagg.<\/span><\/p>\n

\u201cAs an industry, we follow general rules when assessing an applicant\u2019s ability to pay the rent, but if you can prove [that] you spend less than [the] average [person], exceptions [can be made].\u201d<\/span><\/p>\n

Essentially, the harder you try to prove your trustworthiness, the more likely you to are secure a lease.<\/span><\/p>\n

Realestate au<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

  Like many firsts in life, landing your first rental lease can be challenging. Landlords use … How to get a rental property with no rental history<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":9284,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[208,1403,374,509,203,1335,205,561,201,63,62,510,512,12908,543,562,127,557,563,559,207,202,558,508,570,289,206,565,560,515,566,204,569,1007,2888,568,41,326,818,84,385,513,200,511,567,564,678,15288,907,3053,514],"class_list":["post-9283","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-best-real-estate-websites","tag-buy","tag-buy-a-house","tag-buy-house","tag-condos-for-sale","tag-credit","tag-estate-agent","tag-estate-agents","tag-flats-for-sale","tag-for-rent","tag-for-sale","tag-foreclosed-homes","tag-foreclosed-homes-for-sale","tag-home","tag-home-buying-guide","tag-home-for-sale","tag-homes","tag-homes-for-sale","tag-homes-for-sale-by-owner","tag-house-for-sale","tag-house-sale","tag-house-sales","tag-houses-for-sale","tag-houses-for-sale-by-owner","tag-land-for-sale","tag-landlord","tag-mansions-for-sale","tag-mls-listing","tag-mls-listings","tag-mls-real-estate","tag-mls-search","tag-new-homes","tag-new-homes-for-sale","tag-owners","tag-private-rental","tag-properties-for-sale","tag-property","tag-property-for-sale","tag-real","tag-real-estate","tag-real-estate-agent","tag-real-estate-agents","tag-real-estate-broker","tag-real-estate-companies","tag-real-estate-for-sale","tag-real-estate-listings","tag-rental","tag-social-security","tag-tenant","tag-tenants","tag-townhomes-for-sale"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2019\/08\/Woman-looking-at-phone-2000x1500-1024x768.jpg?fit=1024%2C768&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":13188,"url":"https:\/\/amazingproperty.com.ng\/blog\/what-documents-do-you-need-for-a-rental-application\/","url_meta":{"origin":9283,"position":0},"title":"What documents do you need for a rental application in Australia ?","author":"Amazing Property","date":"November 21, 2022","format":false,"excerpt":"\u00a0 What documents do you need for rental application ? 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