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Perth Renters Offer More Money to Secure Lease

20 February 2012

Property agents have warned people fighting to secure a roof over their heads in Perth's booming rental market to be well armed with both cash and credentials.

As Perth's rental vacancy rates fall to levels not seen since before the 2008 global financial crisis, desperate home seekers are offering above the advertised rent and paying months in advance.

The rental market is being made tougher by a lack of new apartment and land developments over the past three years and by a flood of people coming into WA for the latest resources boom.

Northbridge-based agent James Limnios said this was good news for landlords and homeowners but made it tough for people trying to enter the rental market.

The Limnios Property Group chief said hopefuls had to approach a rental application like a job search. "Make sure you stand out as the best applicant," he said.

Mr Limnios said applicants had to be ready with all the information they needed, including bank statements, a list of references and prior addresses.

Potential renters should consider offering above the advertised rental rate and paying three months rent in advance.

Blake Horrigan and his fiance Faye Price recently returned to the Perth rental market after a European holiday and found it very different from the rental market two years ago, when an agent offered them an apartment after missing out on another.

Mr Horrigan said there were five lifts full of people at the first apartment viewing they attended.

"We figured the only way for us to secure a property was offer more," he said.

With good references and secure jobs, they have leased a two bedroom apartment in Northbridge after offering $45 a week above the advertised price of $490.

East Perth-based agent Mark Hay said references were essential to secure properties in a tight market.

Mr Hay said it was important that potential renters presented themselves well at home viewing and had tenancy application forms filled out in advance. A steady income was a big advantage. << back to news articles