The competition for good rental homes is a constant battle in Australia. The continued increase in demand is driving up rents in some markets. At one time or another the majority of Australians have been out hunting for a rental property, and as we all know searching for one is about as much fun as a dental appointment. But, the quest for an apartment doesn’t have to be filled with such anxiety. The best way to ease your worry is to make sure you are getting the best deal possible. If you are in the market for a rental, follow these five tips to make sure you are getting the best deal possible.
1. Seek Out New Construction
Many people assume that something newly built would be too expensive and outside their budget. And they would be right, most of the time. Every once in a while, a new apartment complex may offer a price break that you normally wouldn’t receive for a comparable apartment that has been around for a while. Why? Well, a new complex wants to fill up all of its apartments as quickly as possible. When there is an entire building of apartments that need to be rented out, negotiating a great deal is going to be easier.
2. Be Flexible
If your plans aren’t set in stone, maybe consider a two-bedroom place with a roommate rather than a one bedroom. Or, look at surrounding areas outside of the high-density area you are looking in. A place located in a surrounding suburb could offer you a much better deal on a better-quality place.
3. Ask About Incentives
By signing a 12-month lease instead of a six-month lease, a landlord might be willing to discount your rent. A longer lease is more appealing to the property’s owner and they are going to be more willing to negotiate on price if you commit to a longer lease.
4. Let Amenities Be the Deciding Factor
If you are gravitating between one apartment complex and another, look at the amenities that each place provides. It might be that even though ‘Apartment A’ costs more than ‘Apartment B’, it offers free Wi-Fi and a free gym. You need to decide if it has the type of amenities that are going to save you money in the long run, like say if you pay for a Wi-Fi service and sign up for a gym membership.
5. Be Prepared
It is always good to be prepared, even for a rental application. If you have a letter of reference from a previous landlord make sure to include it with your application. If that doesn’t do the trick, try offering incentives as a way to negotiate. You can offer to pay one month’s rent in advance for example. Showing that you are reliable and a level-headed professional is the best kind of reference you can provide.
