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How To Get A Rental When Self-Employed

how to get a rental when self-employed
Self employed life has a whole host of perks, most that probably sold the dream to work for yourself. However, working for yourself can come with a few issues. Securing a rental property can be one of them. Self employment can sometimes come with an 'unpredictable' income stream, and to some landlords, can be seen as too risky. Emma from Seaside Asset Management gives us her best tips on securing a rental property when self employed. 
What records and income information do property managers and landlords need when someone that is self employed apply's for a property?
Ideally the more information the better, you will be in a better position to provide more than necessary (chuck in the kitchen sink) than the property manager/owner needing to call and request further information. Ideally you would provide, your last company tax return, accountants details and if you feel comfortable doing so your company/personal bank statement.

 

What do most landlords and property managers look for from potential tenants?

Most importantly we look to see if the prospective tenants can afford the rent, we will make an assessment if the applicant/s have sufficient funds to cover general living expenses/entertainment expenses after the rent has been paid. We also rely heavily on rental references, in particular from other agencies if applicants have rented in the past. When viewing a property make sure you dress to impress, first impressions really do count!  

 

Is a “cover letter” to a landlord a way to help a tenant secure a property? Or is it a waste of time?

Absolutely!!! Not enough people do this, I personally LOVE a cover letter and in a pile of applications I will review the ones that have included a cover letter first. It looks professional and shows you have gone to the extra effort and are serious about securing the property.

What things could possibly hinder an application for a self-employed person?

Absolutely nothing, if you have great references and have the income to pay the rent/living expenses etc there is no reason why your application wouldn’t be considered.

 

 

Are there any other tips you could offer a self-employed person looking to rent a property?

  • Call the property manager before the inspection to introduce yourself
  • Arrive to the inspection on time- don’t park in the driveway, this is a property managers pet hate
  • Write a cover letter explaining your situation and include some information about your business, even a website link
  • If you are in a position to do so, offer to pay several months in advance

Are you looking to rent a property on the Mornington Peninsula or have a house you would like to lease out? Emma from Seaside Asset Management has you covered. You can find out more here.

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