Gumtree

[geoffw]

I certainly don't consider myself a dodgy tenant, but I'm sure to a PM, I am.
I wouldn't have references, or employment history to show.

That may not matter. My PM looks at period of income, in whatever way it comes. Tax returns may be acceptable- I don't see the income or the proof. (In a way that's good- I wouldn't be happy showing my proof of income to just anybody, there's no professional ethics).

People without a rental history who have owned their own homes are acceptable a tenants.

As hard as it may be for people freshly graduated, after one very bad experience, I would regard this as a minus.

 

[TMNT]

I haven't rented since 1980 (canada) and never in Australia.
If I had to rent here, I would take a private landlord over a PM, all things being equal.
The most important factor would be the actual property offered, and if it met my needs.

I certainly don't consider myself a dodgy tenant, but I'm sure to a PM, I am.
I wouldn't have references, or employment history to show.

why would you go out of your way and avoid PMs
I assume you are not 18-20 yrs old,
if you've just come from overseas and cant show income for whatever reason, most pms are willing to give people a go,
Ive just letted one out to 3 separate people on the one lease, None them have income, job, we assumed it was parents money and made a calculated decision, and gave them the go ahead

 

[kathryn d]

why would you go out of your way and avoid PMs
I assume you are not 18-20 yrs old,
if you've just come from overseas and cant show income for whatever reason, most pms are willing to give people a go,
Ive just letted one out to 3 separate people on the one lease, None them have income, job, we assumed it was parents money and made a calculated decision, and gave them the go ahead

Just by going with what I have read.
Pm's generally only slot very small amounts of time to open houses, or private appointments.
If someone was on a deadline to find a place, it may be difficult to run the course to get accepted.

As others have said, a private landlord may be more willing to go on gut feelings, and on less requirements for checks.
Providing a bond woudn't be an issue.

No, I'm not 18-20, and we do own several homes..in canada.
Our home here is Victoria..our van.

 

[StevefromMRE]

Gumtree isnt enough

You can only feel confident that you have acheived the highest rental possible if the property has been marketed on the biggest websites (re.com and domain) with good copy, great professional photos and numerous convenient inspection times (or even better an online booking system).The better the marketing, the more people that see the ad, the more people that come to the inspections, securing you the best person willing to pay the most. Its pretty simple but few agents are accross it.

 

[wylie]

You can only feel confident that you have acheived the highest rental possible if the property has been marketed on the biggest websites (re.com and domain) with good copy, great professional photos and numerous convenient inspection times (or even better an online booking system).The better the marketing, the more people that see the ad, the more people that come to the inspections, securing you the best person willing to pay the most. Its pretty simple but few agents are accross it.

Are you saying you get involved in rent "auctions"?

 

[TMNT]

so my property has been vacant for 3 months now
rental apparisal 220-$230,
started at $230,

dropped it to $210 in $5 increments,

agent now says $160 to generate interest which has really annoyed me,

i put an ad up on gumtree, had interest in an hour

that being said, if I pass on these people to the agency,

do agents in general,are they obligied or do they as a gesture of good, reduce or waive any of the fees, this agency is rather expensive at 2 weeks + 9.9%


edit: back to the OP, I am very skeptical of the quality of applications for my one on gumtree, because in 3 months theyve have a handful of enquires via the agent with 1 bad application,

however, the gumtree ad has been up for 40 mins and ive got 3 parties sounding desperate to rent

 

[Lil Skater]

$160?!!?!? OMG!

I'd remove the property from the agent immediately for that and probably refuse to pay advertising, that's really poor form!

Get a new agent and pass applicants through to the agent, or alternatively ask the new agent to also advertise on Gumtree for you.

Most agents probably would still charge full letting fees if the tenant is passed though to them as they'd still do inspections, application processing and the letting process etc.

There's no problem with an expensive agent, if they're worth it!

 

[TMNT]

$160?!!?!? OMG!

I'd remove the property from the agent immediately for that and probably refuse to pay advertising, that's really poor form!

Get a new agent and pass applicants through to the agent, or alternatively ask the new agent to also advertise on Gumtree for you.

Most agents probably would still charge full letting fees if the tenant is passed though to them as they'd still do inspections, application processing and the letting process etc.

There's no problem with an expensive agent, if they're worth it!

yes!! agree,

my first reply was WTF!

I have it listed through 2 agencies, both have failed to generate any key applications, the 2nd agency is cheaper at 1 week+7.7%
I havent paid for any advertising,

I might pass these applications through the cheaper agency as they seem a bit nicer

its now listed at $215!

Ps. im going to contact these gum tree applicants and tell them to submit an app via theagent, but im expecting them to run like fire when I mention using an agent

 

[mattysavager]

It may well be that your property is only worth $160 - and that their initial appraisal was just way off.

Has it been rented previously? What price?

If that were my client, I would waive the letting fee, and instead offer one week's free rent or something else designed to get attention.

Dropping the price below 'market value' is a silly move - as it means you're losing potentially $60-$70 per week for at least 6 months. That's a $1500 drop over 6 months. It also means that after a 6 month lease, you need to try and get a $50 increase from the tenants, or this just starts again.

I would ask two other local rental agents to come and give you an appraisal ASAP. If they come back at $220 or close, might be time to change agents. Don't let them drop the price until you get another opinion. Once it's been on the net for $160, it's harder to go back to $210.

 

[TMNT]

It may well be that your property is only worth $160 - and that their initial appraisal was just way off.

Has it been rented previously? What price?

If that were my client, I would waive the letting fee, and instead offer one week's free rent or something else designed to get attention.

Dropping the price below 'market value' is a silly move - as it means you're losing potentially $60-$70 per week for at least 6 months. That's a $1500 drop over 6 months. It also means that after a 6 month lease, you need to try and get a $50 increase from the tenants, or this just starts again.

I would ask two other local rental agents to come and give you an appraisal ASAP. If they come back at $220 or close, might be time to change agents. Don't let them drop the price until you get another opinion. Once it's been on the net for $160, it's harder to go back to $210.

agree matty,

is a fine balance between dropping the rent vs how much it will cost per year,eg $10 drop is $500 per year, so thats 2 weeeks rent,

as for appraisals, I got 3 from different agencies, and they were all 230-$240 per week, it has nt been rented before because I just purchased it, so yeah, even the agents are a little miffed as to why its not even getting applications, but the rental market appears a little more volatile then usual, but I just wanted it rented out as yo ucan imagine, I was going flag the 2 weeks +9.9% agency because they were so expensive, but im happy to pay if anybody canget it rented out!

 

[Lil Skater]

Have they given you any feedback aside from dropping the rent? Are there people turning up for inspections?

A good agent should be able to give you plenty of feedback, even if they're not quite sure what the issue is, they should at least be able to ask people coming through the door what their opinion on the property is.

I'd suggest getting some other appraisals done, and discuss whether the market has moved in the last 2-3 months or what their experience is.

I'd still probably take the property off both agents as the property would be stale on re.com by now, and they should've moved quicker, alternatively offer 1 weeks rent free rather than dropping quite so low.

Ie. $200 per week, with 1 week free. Still a large loss, but you still have the higher starting mark for when renewal comes around, even if in the first year the rent is equivalent to the $160pw mark for whatever reason, you're in a better position at the end.

 

[kathryn d]

Get a friend to call and pretend to be an applicant, unless you don't think they will recognise your voice.

See what kind of response you get
...or send an email, using a different account.

 

[sanj]

almost all your posts recommend this company, you obviously are not being honest with us, what is your connection to them?

spam dressed up as a genuine recommendation is frowned upon here

 

[happy landlord]

I have used Gumtree to advertise our rental properties as we self manage, and have found that some of the tenants coming through are very desperate, obviously you get tenants that the real estate agents don't want and they are seeking out private landlords. Make sure you check them out thoroughly, unless you want to one of those stories on the current affairs programs.

 

[locko24]

the rest were ... drug users,

Not the best thing to put on your application...

 

[wylie]

You can only feel confident that you have acheived the highest rental possible if the property has been marketed on the biggest websites (re.com and domain) with good copy, great professional photos and numerous convenient inspection times (or even better an online booking system).The better the marketing, the more people that see the ad, the more people that come to the inspections, securing you the best person willing to pay the most. Its pretty simple but few agents are accross it.

Are you saying you get involved in rent "auctions"?

Hellllloooooo!!! StevefromMRE....

I'm keen to have an answer to how you market a place for rent and "the more people see the ad, the more people that come to the inspections, security you the best person willing to pay the most".

Isn't that creating a "rent auction" and isn't that illegal?

Why can't you answer that. It is a simple question.

 

[The Fence]

How is that an auction?

Auctions are conducted with an auctioneer and a hammer falling after bids are taken.

This is having open homes with many prospects attending creating a competetive environment whereby some may wish to offer more in rent because they really like the place.

Why are you trying to make out it's an auction and illegal..?

 

[mattysavager]

Auctions are conducted with an auctioneer and a hammer falling after bids are taken.

In QLD, advertising a rental property without a price, or with a price range, or price guide is illegal. It's referred to as a 'rent auction'.

Rental properties must be advertised at a fixed weekly price, and tenants cannot be encouraged to 'make offers' by the agent. It happens, but if the agent is reported, they can be disciplined.

A tenant may decide of their own volition to offer more, and we have this happen occasionally, but what Wylie is getting at is that Steve from MRE was possibly being creative with the rules, and encouraging 'bids'.

 

[happy landlord]

I have had another tenant give notice last week. Have put the ad on Gumtree and on a large website.

I have had a few responses from the one website, which seem to be okay, which I am yet to met, I have had 4 responses from gumtree ad. One guy just admitted to me he is on TICA, had a few others which have been unsuitable. All of the responses seem to be a waste of time.

 

[The Fence]

Dear happy landlord,

are you trying to market realestate .com.au...?

Because if you are not then you are doing a damn good job without knowing it.

90% of your posts have the link to it and also discrediting Gumtree.

I have a property for rent on Gumtree and have had excellent prospects enquire. I also have a sign on front lawn and direct those enquiries to the gumtree add for further information, pics etc.

Works very well in my honest opinion and cant see how you can claim that all enquiries from gumtree lookers can be from so called undesirables...???

Im smelling a spammer....