Am I able to help my kids get into their first rental?

Anonymous

Am I able to help my kids get into their first rental?

My son and his girlfriend are looking for a rental. They are both young (under 20) and have a toddler. They seem to be being overlooked in the rental market I can only assume due to their age and their family circumstance. Son is employed full time and partner has part time work and they can afford the rental. I have not rented for years. Wondering if it would be worth going guarantor, or offering 6 months up front? Thought I would pose the question here before I discuss it with them. We are based in Victoria.

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7 Replies

Anonymous

The rental market is extraordinarily tight at the moment. There will be large numbers of people applying for the same property.
Different agencies will have different rules. So before going to an inspection your son should contact the agency for there criteria. Some will see an offer if upfront payment a positive, some won’t give a toss. Some will accept more money per week, some won’t.
They may find less competition in a higher price point, but again, some agencies will accept mum’s contribution and others will see it as a red flag that the kids can’t afford to pay.

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Anonymous

There is a rental crisis at the moment, the lowest availability in years all across the country. There are people getting rejected that normally find it easy like professional couples, FIFO families. They may be better off staying with you for a few years and saving for a house deposit or even a deposit on a block of land if that's more attainable. Its hard for people looking at the moment.

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Anonymous

Considering how tight the rental market is, first time renters are going to find it tougher as they have no rental history. Personally I would be letting them stay at home to help save for a deposit for their own place.

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Anonymous

I am a property manager, we take young kids (students, singles, young couples etc) with a guarantor all the time! No harm in trying :)

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Anonymous

There is a major rental crisis atm. Can they stay with you for now?

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Anonymous

Yep try it. Also get them to apply for less than they want. If they pass easily theyll be more likely to get it, then work up from there. Its easier once youre in.

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Anonymous

I recommend writing a cover letter telling a bit about their family and goals, also include a family photo. This helped my partner and I when we were going for our first rental.

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