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Credit rating for rentals

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Old Aug 16th 2011 | 12:27 am
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Default Credit rating for rentals

Hi
Im currently working on collating information for the rental companies when we get to Newcastle in Oct
Can anybody give me the highest rating bit of evidence they see as the highest scoring ?
Ive seen posts saying solicitors letter , or job offer?
We have job offers in proncicple , so I think im nearly there
Regards
jason
 
Old Aug 16th 2011 | 4:46 am
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Default Re: Credit rating for rentals

Not sure if it's the same in NSW but in VIC you'll need to show 100+ points of ID (passport, drivers licence, Medicare card etc) as standard. If you won't have started work by the time you apply you'll at least need to show a contract of employment to include salary details and also best to include proof of savings as well. Also line up a couple of UK people who would be happy to supply a reference on request via email - former employer is a good one as is your UK estate agent if you're letting your UK home or have sold it (i.e for them to say that your UK home was always impeccabely presented and well kept etc etc). Forget about solicitors letter, it's pointless. You might not need to go to these lengths if there's no competition for the property or if it's at the more 'rustic' end of the market but best to be prepared.
 
Old Aug 16th 2011 | 7:45 pm
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Default Re: Credit rating for rentals

Originally Posted by Jason mears
Hi
Im currently working on collating information for the rental companies when we get to Newcastle in Oct
Can anybody give me the highest rating bit of evidence they see as the highest scoring ?
Ive seen posts saying solicitors letter , or job offer?
We have job offers in proncicple , so I think im nearly there
Regards
jason
Hi Jason
Agencies work differently, but they will want to see evidence of who you are - so a passport and driving licence are fine, and evidence you can afford the rent. Not all agencies credit/tenant check - and it is pointless for a newly arrived migrant as you will not have a history. A job offer, perhaps supplemented with an offer of rent upfront, and a pleasant demenour will be helpful too.
 
Old Aug 16th 2011 | 8:46 pm
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Default Re: Credit rating for rentals

Thanks , awesome info as always
Medicare !! Can I apply for this from the UK and if not, how long does it take to get one when we arrive
Regards
Jason
 
Old Aug 16th 2011 | 8:51 pm
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Default Re: Credit rating for rentals

Yes, you will need the 100 point ID stuff - you will also need this for things like opening a bank account.

Primary Documents
70 Points

Only one of the following may be claimed:

Birth Certificate
Birth Card issued by a Registry of Births, Deaths and Marriages
Citizenship Certificate
Current Passport
Expired passport which has not been cancelled and was current within the preceding 2 years
Other document of identity having the same characteristics as a passport including diplomatic documents and some documents issued to refugees
[edit] Secondary Documents

40 Points

Document issued by Authorised Deposit-Taking Institutions (ADIs), banks, building societies, credit unions or registered corporations. Signatory is a known customer of at least 12 months standing.
Written reference from one of the following institutions, verifying name of signatory and signed by both referee and signatory. Signatory must be known for at least 12 months.
Another financial body certifying that the signatory is a known customer
Another customer who has been verified as a signatory by the cash dealer
An acceptable referee (refer to AUSTRAC Guideline No. 3 and Information Circular No. 3)
Any of the following, which must contain a photograph and a name. Additional documents from this category are awarded 25 points.
Driver licence issued by an Australian State or Territory
Licence or permit issued under a law of the Commonwealth, a State or Territory Government - (e.g. a boat licence)
Identification card issued to a public employee
Identification card issued by the Commonwealth, a State or Territory Government as evidence of the person's entitlement to a financial benefit
An identification card issued to a student at a tertiary education institution

35 Points

Name and address of signatory verified from any of the following:
A document held by the cash dealer giving security over the signatory’s property
A mortgage or other instrument of security held by another financial body
Must have name and address on:
A document held by a cash dealer giving security over your property
A mortgage or other instrument of security held by a financial body
Local government (council) land tax or rates notice
Document from your current employer or previous employer within the last 2 years
Land Titles Office record
Document from the Credit Reference Association of Australia

25 Points

Must have name and signature on:
Marriage Certificate (for maiden name only)
Credit Card
Foreign Driver Licence
Medicare Card (signature not required on Medicare Card)
Membership to a Registered Club
NRMA Membership
EFTPOS Card
Must have name and address on:
Electoral roll compiled by the Australian Electoral Commission and available for public scrutiny
Records of a public utility - phone, water, gas or electricity bill
Records of a financial institution
A record held under a law other than a law relating to land titles
Lease/rent agreement
Rent receipt from a licensed real estate agent
Must have name and date of birth on:
Record of a primary, secondary or tertiary educational institution attended by the applicant within the last 10 years
Record of professional or trade association of which the applicant is a member
Retrieved from "http://en.wikipedia.org/wiki/100_point_check"
 
Old Aug 16th 2011 | 8:56 pm
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Default Re: Credit rating for rentals

Brilliant
 
Old Aug 16th 2011 | 9:32 pm
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Default Re: Credit rating for rentals

My wife has been given a job offer in writing from here sponsor
Is this ok on it's own , or do I need an offer as well to get the relevant scoring
 
Old Aug 16th 2011 | 9:38 pm
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Default Re: Credit rating for rentals

Originally Posted by Jason mears
Thanks , awesome info as always
Medicare !! Can I apply for this from the UK and if not, how long does it take to get one when we arrive
Regards
Jason
You can only apply once here. We got ours in just over a week. They give you an interim receipt straight away.

Good Luck
 
Old Aug 17th 2011 | 5:14 pm
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Default Re: Credit rating for rentals

Originally Posted by Jason mears
My wife has been given a job offer in writing from here sponsor
Is this ok on it's own , or do I need an offer as well to get the relevant scoring
Hers will be fine, but you will both need to fill in the application. In NSW every adult who lives in the property has to fill in an application form. As long as hers covers expected rental, if its too close for comfort be ready to be knocked back, you will be ok.
 
Old Aug 17th 2011 | 8:27 pm
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Default Re: Credit rating for rentals

Thanks
 
Old Aug 17th 2011 | 9:34 pm
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Default Re: Credit rating for rentals

Originally Posted by JAMFC
Yes, you will need the 100 point ID stuff - you will also need this for things like opening a bank account.
But in your first 6 weeks here the passport provides 100 points giving you plenty of time to arrange bits for the other 30 points after this period.

Generally rentals like to see proof you can pay you rent so either a job offer/contract or plenty of money in the bank.

If you rented in the UK ask your landlord if they will provide an email reference on request and if you owned take proof to this affect.
 
Old Aug 20th 2011 | 12:04 am
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Default Re: Credit rating for rentals

Just secured a Rental in Sydney. Based on the excellent inputs on BExpats this is what we did:

-Cover Letter
-Filled Application form
-Passport
-Medicare Card
-Bank Statement
-Car Rego
-Job Offer letter
-Reference Letter from Landlord in North America
-Reference letter from Short term rental stating rent was paid upfront.
-Pictures of how we had kept previous places


-Offered 12 months lease. No additional rent or rent upfront.

We applied for 5 got 2.


Hope this helps.

Also, like said above first 6 weeks Passport is 100 points.

-scaria197

Last edited by scaria197; Aug 20th 2011 at 12:07 am.
 
Old Aug 20th 2011 | 9:00 am
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Default Re: Credit rating for rentals

We were told by several agents that they really are not that anal over counting points with new immigrants. We did a rental pack that included: cover letter, passports, bank statements, job offer letters, reference from estate agent in UK. I have no idea how many "points" that would make up but it did the trick, no problem getting a rental at all with two cats.
 
Old Oct 18th 2011 | 12:56 am
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Default Re: Credit rating for rentals

These tips are all fab. We arrive in 4 weeks, have a holiday rental for 2 weeks and hope to find and secure a rental in those 2 weeks. No job offers as yet, but we still own our home in UK which has been let and have bank statements to prove we have savings. OH also has a fab ref from his old boss, do you guys reckon this is doable?? We are heading to Perth btw
 
Old Oct 18th 2011 | 7:55 am
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Default Re: Credit rating for rentals

We're aiming to be in Melbourne in January depending on our house sale, and this thread is a goldmine!

Can anyone give any pointers as to what to include in a covering letter, and what sort of content to ask for our estate agent to supply in their letter?

Cheers!

>A.
 


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