As you know the Gladstone rental market is very tight at the moment. This means the demand for rental accommodation may at times exceed the availability of rentals on the market. This leads to a very competitive environment for prospective tenants to secure the type of rental accommodation they desire.
The number one question I get asked is “can I offer more than the asking price on a rental property, to get the property?” The simple answer is no, rent bidding is illegal in Queensland.
As the prospective tenant, you may be able to afford a higher rent however, LOCATIONS estate agents also must maintain transparency in all transactions to ensure prospective tenants do not get the perception that we have induced them to rent bid nor that we have engaged in deceptive or misleading behaviour.
Below is an extract from the RTA website:
“In Queensland Rent bidding is illegal. A rental property must be advertised at a fixed price; failing to do so is an offence. A property manager/owner must not:
· advertise a rent range
· put a property up for rent auction
· ask for offers
However, a prospective tenant can offer more than the amount advertised and the property manager/owner may accept their offer.
The property manager/owner does not have to display the price on a ‘for rent’ sign at the property.
A tenant who believes a property manager/owner has induced them into a rent auction may contact the RTA.
If the property manager/owner has engaged in deceptive or misleading behaviour the RTA may refer the complaint to the Office of Fair Trading or the Australian Competition and Consumer Commission.”
Securing a property
To gain an edge when applying for properties we suggest the below:
How can I ensure I secure the property I would like?
- Submit your completed application as soon as possible with all the relevant details and supporting documentation completed.
- If additional details are required, respond as soon as possible, however, it is best to make sure it is all submitted at the beginning.
- Ensure your reference contacts are aware of your application and able to respond on time.
- Be open and transparent with your application. If there is something you think may concern your new agent, explain it.