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Competition and open time toughest hurdles for renters

Competition and open time toughest hurdles for renters

by Staff Reporter 1 comments

Tenants have identified tough competition between candidates and inconvenient open for inspection times as their two biggest complaints of the renting process.

In the latest realestateVIEW Housing Sentiment Report, 58.5 per cent of prospective tenants said competition was the biggest challenge.

Recently, competition has been so tough that applicants have begun offering higher than advertised rent in some areas, which mainstream media has blasted as a shameful tactic.

Earlier this year, Channel Ten News called to “outlaw the dirty but still legal tactics of real estate agents” who engage in rental bidding.

Meanwhile record attendance numbers at open for inspection across capitals such as Sydney mean tenants are more likely to feel the pressure of standing out from the crowd.

But 55.9 per cent of respondents to the survey said that getting to opens and inspection timings was inconvenient and severely limited the number of properties they could see.

While weekend open for inspections were preferred, tenants claimed that inspection times were all grouped around mid-morning, making it hard to see multiple homes – especially if they were looking in a number of areas.

A long-winded application process was the third biggest gripe of renters, with 34.9 per cent claiming the process was too arduous, especially if they are unsuccessful on multiple occasions.

Reference checks and income testing was next on the list of hurdles, with 17 per cent and 16.6 per cent of tenants claiming these hindered their rental search.

Competition and open time toughest hurdles for renters
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