As peak rental season draws to a close (December to February), realestate.com.au data reveals that visits to the rental site reached a record high.
January 2020 showed more than 20 million visits to the rent site, which is more than a million extra visits compared to the same time last year.
While this is great news for landlords trying to fill their properties, it’s not such good news for tenants who already find the market competitive.
“This would speak to a lot of people’s lived experience that trying to find the right rental just keeps getting more and more competitive,” says Chris Reeves, Marketing and Communications Manager of Rent at realestate.com.au.
In fact, in a 2019 survey 30% of renters said they were rejected from more than three places they’d applied for, and that competition is one of the biggest frustrations with securing a rental.
What types of properties are renters clicking on?
The top two priorities for renters include location and affordability and there were plenty of homes on realestate.com.au that met this criteria throughout the peak rental period (December 2019 to February 2020).
For affordability, 37 Belgrove Street in Preston caught renter’s attention, which came on the market in January and was promptly snapped up after a week.
The three-bedroom, two-bathroom abode was well-priced for the increasingly trendy northern suburb at $400 per week – if you had four housemates (a couple and two singles), weekly rent would be just $100 each.
Considering the median rent for a three-bedroom house in Preston is $500 per week, this one ticked the affordability angle renter’s search for.
In terms of prime location, it doesn’t get much better than 93/14 Blues Point Road in McMahons Point in Sydney.
Overlooking the Sydney Harbour, neighbouring home owners would have paid millions of dollars for the same vantage point as this rental, which is $680 per week.
Just keep swimming
Snagging these dream rentals in such a competitive market is no easy task, but Reeves explains that you’re not alone in your search.
“If you’re struggling to find a rental property don’t be disheartened. It’s competitive and you’re not alone… it’s common to miss out before you find the right one,” he says.
“I’d suggest making sure your 1form profile is up to date with as much information included as possible, as well as looking at how else you can set yourself apart from the pack. Services like Tenant Verification, which is available through 1form, are there to help you stand out as a quality tenant.”
Make sure when you’re searching for your next rental that you sign into your MYREA account. By having an account, you can save the rentals you want to apply for later, keep up-to-date on new rentals in the market within your preferred neighbourhoods, and contact listing agents to find out more about the property. When searching for your dream rental, it’s worth setting up your 1form profile. With all your information in one place, you can apply with just a click of a button to as many properties as you like