Potential renters in Australia are still finding it tough to find a rental property a recent survey has found.
The survey conducted by Realestateview.com.au, gathered the thoughts and feelings of 1400 people who had either recently found a rental property or were still in the process of looking for one.
Alarmingly when asked how long renters had been looking, 65% replied that it had taken them 3 months or longer to find a place. Often thought of as a less taxing process than finding a property to buy, finding the ideal rental property appears to be getting harder and harder.
Competition for rental properties is fierce with agents and landlords being able to take their pick of applicants. There are a number of ways applicants can get ahead including having application forms ready to go when they first inspect a property, attaching credible references and having money for rent and bond at their disposal.
Potential renters surveyed also tried other methods in order to secure rental properties. When asked if they had resorted to any of the following activities, they answered:
Looked for property in ‘further out’ locations than originally planned – 46.3%
Looked for properties of a lower quality than originally planned – 49.3%
Looked for properties of a smaller size than originally planned – 42.9%
Looked for shared accommodation – 15.6%
Increased your budget – 59.5%
These figures do not bode well for people considering renting in the near future. It appears that the current crop of rental applicants have learned the hard way that they need to be flexible. The original property in their mind that ticks all the boxes may not be the one that they end up with.
This article was contributed by Petra Sprekos. Operating within the real estate industry since 2000, Petra’s career began in a family real estate agency in the northern suburbs of Melbourne. Since then Petra has held various roles within the property industry and is now the General Manager of the real estate portal realestateVIEW.com.au. Her passion lies in business strategy, operational efficiency and the online space.
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Yeah it is really hard to find a place to rent especially when you new to the lace and you only move there because of work.Hope there are trusted agent who can help find a good place to stay in.