When it comes to property, location is an important deciding factor that not only determines...
Hobart property management company guide to application documents and fees
On your toes and ready for action? With property rentals at a premium in Hobart, make sure you have your documentation in order. It could make all the difference in whether or not you clinch that new home you have your eye on in the Tasmanian capital. Let Baxton Property Management Company in Hobart guide you through what paperwork and information is required.
When the going gets tough, the tough get going
The vacancy levels are tight in Hobart, so there’s definitely competition for every available rental. Renters keen to start a new life in a new apartment or house are queuing for the chance to get keys to the door of suitable houses or apartments in this boom town on the Tasmanian island.
What’s the best thing you can do to improve your chances? Being totally prepared before you apply might be the deciding factor in your favour. If you find a place you like, it would be a pity to lose it through wasting time trying to get your paperwork in order.
As soon as you decide to rent, start getting your “application file” in order, so you have it on hand when you need it. Some paperwork and information you will have to put together yourself. Other documents will be given to you by the landlord, owner, agent, or by a Hobart property management company like Baxton.
The main areas of information required
Personal information and identification: All tenants over 18 must be included in the application.
You may be uncomfortable answering some of the questions, and by law you do not have to answer them all if you don’t want to. However, if you refuse, it might not be in your best interests, as far as getting the lease goes.
An owner or agent does not have to give reasons for rejecting your application but discrimination is not allowed. In Tasmania, you must be told when you apply, if the agent or landlord uses a residential tenancy data base – commonly known as a blacklist. They must also tell you if it has any personal information about you.
Take along anything that can show you for the good tenant you are. Take photo identification and other documents like your passport, your driver’s licence, a copy of your birth certificate and a police check.
Credit status: Prove your income with salary slips, and the details of your employer as a possible referee. Or prove you have assets readily available that will ensure you can pay your rent for the duration of the lease. You can back this up with receipts for recent rental paid, utility account statements and other regular account payments. A security signatory may be required for first time tenants.
References: Put together a portfolio of references from previous landlords or property managers. If this is your first time renting, get references from your boss, from lecturers or doctors.
Don’t forget the costs
Be sure you are ready for the following fees before signing for a new rental. It would be tough to lose out on the lease after all your hard work prepping for your application. So when deciding to apply, remember there will be some upfront costs, too.
- The Bond: This is a security deposit required by law when renting in Hobart. The bond is held by the Rental Deposit Authority (without interest) until such time as you leave the rental. You pay the bond to your agent or Property Management Company in Hobart, who will forward it to the RDA. If you are renting from a private owner, you will need to pay the bond directly to the RDA, or lodge it at Service Tasmania. Private owners may not accept the bond money directly from you. All forms related must be signed and only those who have signed it will be able to claim it back. The bond can amount to the equivalent of four weeks’ rental.
- Rent in advance based on whether you will be paying rental every two weeks or once a month.
- A holding fee: This is a usually non-refundable payment you may be charged if you ask for the rental premises to be held for you for more than seven days. This could be especially relevant in a city like Hobart, where vacancies are being snapped up by tenants as soon as they become available. Understandably, agents and owners may well be reluctant to lose the possible rental the space could have generated during a long holding period.
Going digital in Hobart, like Baxton property management company
Property management companies, like Baxton in Hobart, are increasingly using digital application forms like 1Form, for all applications. It makes good sense to the management company to receive standard forms and speeds up processing time.
And it benefits you – there’s no need to start again from scratch if your first application is unsuccessful. It consolidates your data in one file which you can use again. Just remember to update any information that is no longer relevant or up to date.
Visit Baxton’s website for rentals and tenancy advice.
- What rent can you afford? Ask a Property Management Company in Hobart
- Tenants: How to vet a landlord
- Tenants: Do you need insurance?
We hope you enjoyed this article
The information contained in this article is based on the authors opinion only and is of a general nature which is not indicative of future results or events and does not consider your personal situation or particular needs. Professional advice should always be sought relevant to your circumstances.
See more articles below
You May Also Like
With demand for rental property in Hobart at an all time high, you might think...
If you’re renting property in Hobart, you’ll be asked to pay a bond. Should you...