Right now, the rental market is perhaps the toughest it has ever been and that’s applying pressure to tenants and property managers in equal measure.
Every property attracts multiple applications, and if an application is not up to par or a prospective tenant can’t showcase the right skills, their application isn’t even making the pile for consideration.
For the property managers knocking back applicants, it’s a heart wrenching daily reality that for every tenant they say yes to there is a lengthy list of applicants still in search of a roof over their heads.
Paul Tommasini of the Tenancy Skills Institute is looking to address this by arming tenants with skills and education that help them better navigate the rental process.
In the process he’s helping people secure a rental property while also lightening the load of property managers by reducing the risk of failed tenancies.
In this episode of the Elevate podcast with Elite Agent Managing Editor Samantha McLean, Paul looks at how education and skills underpin successful tenancies and shares an insight into an innovative Queensland program that’s now seeking to go national.
He discusses how the industry can play a role in tenant education and why skills and knowledge secure better tenancy outcomes.
Paul also looks at the big-picture of Australia’s current rental crisis, who it’s impacting and how it might be solved, while noting his aim in the next five years is to see every child leave school with the skills they need to navigate the rental process.
“I think if we can get people before they leave school we have a much better chance of creating better rental outcomes for everyone. Then that relieves the pressure on everyone. It relieves the pressure on our services system…but also relieves the pressure on property managers, which sort of flows out from when tenancies fail,” – Paul Tommasini.
Paul and Samantha also discuss:
- Why a tight rental market like the present makes it all the more important to arm people with the right tenancy skills.
- The four key tenant skill sets that are required to ensure better tenancy outcomes, and why education is key to helping renters and property managers.
- How the Tenancy Skills Institute is working with the real estate sector to create a tenant education program that is fit for purpose, is recognised by the industry, and helps people secure a rental.
- Why a tenant education program was needed and the success it has had so far in improving the rental application process and ensuring fewer failed tenancies.
- Why property managers in Queensland are now recognising the education program and how it’s being used to help tenants who do not have a rental history.
- Why Paul wants to see the program adopted in high schools and how that’s set to help tenants and property managers in the future.
- How the program is now expanding with a view to going national, and why the real estate industry can play a key role in getting it off the ground.
- How education can help property managers ensure fewer tenancies fail, and where property managers and agents can find the resources they need to assist at-risk tenants.
- When a property manager might suggest a prospective tenant undertakes training, and how this helps create better outcomes.
And much, much more…
Links and resources mentioned
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