What property managers do with your information
There’s a fair bit of paperwork involved in applying to rent a property and it might have you questioning why so much information is required.
Although it might seem tedious to fill out those forms and compile the required documents, there’s good reason this process occurs.
Here’s an insight into why property managers require that information and what they do with it.
100 points of identification
Along with a rental application, a prospective renter is required to provide 100 points of identification.
This might include a licence, utility bill, passport and/or Medicare card.
This information is used to confirm you are who you say you are.
Every adult named on the rental agreement needs to provide this ID, just as they would when opening a bank account, applying for a licence, or seeking a loan.
Proof of income
Within the rental application you will be asked about your income and employment, including how long you have worked for your current employer.
You are also required to provide proof of income in the form of payslips, a current Centrelink statement or current bank statement.
Payslips are cross checked with your employer in a bid to further confirm you are who you say you are and genuinely have the capacity to pay that rental amount.
Previous rental history
All rental applicants are asked to list their current and previous addresses, including the name of the landlord or agent if applicable.
If the property was rented, the property manager will then contact the agent or landlord for a reference of what you were like as a rental occupier.
This is to ensure you paid rent on time and looked after the property.
Emergency contacts
At least two emergency contacts are required on a rental application. These are the people whom the property manager would contact in the event of an emergency where they are unable to get hold of you.
They might also be contacted if you fall behind on your rent.
Personal referees
The names and contact details of at least two personal referees are required in order for the property manager to learn a little bit more about your character.
Again, this is all about ensuring you are the type of person who will look after the property and pay the rent on time.
Additional checks
Aside from the information you provide on the application form, the property manager will also cross check your name on a national database to ensure you haven’t breached previous rental agreements by failing to pay rent or damaging a property.
The bottom line
As we’ve mentioned, the rental application process is all about confirming you are who you say you are, have the capacity to pay for the property and will look after it.
And sure, it can be tedious to fill out the form and provide the additional documentation that’s needed, but it’s important the application is completed in full.
One of the biggest mistakes prospective renters make is failing to complete the application or overlooking some of the documents that need to be provided.
How we can help
Our experienced property managers pride themselves on establishing great relationships with both rental occupiers and owners.
We manage every property as if it were our own and you can learn more about our property management services here.
Alternatively, if you are looking to rent a property, you can view the properties we currently have available here.
