Renting Privately
- Thread starter Robin
- Start date
We have just used rent.com.au and rentfind.com.au. One was free and the other was $66 for an advert which will run for two months.
We actually had one enquiry from rent.com.au which is good. We also gave it to a local rental agent and have had two inspections through them with one application coming through today.
Things have been really slow for this house with three open houses and only a couple of people through, so cannot see where all the hysteria is about people missing out etc. Possibly that is in Sydney or Melbourne, or cheaper houses than the one we have listed.
Wylie
We actually had one enquiry from rent.com.au which is good. We also gave it to a local rental agent and have had two inspections through them with one application coming through today.
Things have been really slow for this house with three open houses and only a couple of people through, so cannot see where all the hysteria is about people missing out etc. Possibly that is in Sydney or Melbourne, or cheaper houses than the one we have listed.
Wylie
www.comeandripmeoffcauseicantcheckonyou.com
Aimy
Sorry, as you might have guessed I wouldn't do it. $1,000 for a property manager per year so you can have a life - priceless
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There is a bigger pool of renters at the cheaper end of the market, but also, the Big newspapers and media in general are pretty much myopic on the CBD areas when it comes to news on real estate conditions.
So, when you hear of a rental squeeze, you can pretty much bet on them reporting on all the high demand inner-city and trendy suburbs.
You-know; the areas where the affordability crisis is forcing out the first home buyers.
Hi Robin,
We recently used domain.com.au - totally useless! Not one response in 4 weeks and cost ~$165. I would have preferred realestate.com.au but that is only for real estate agents.
We did much better in the local paper but that was $60+ a time. We ended up putting "....... area" so we got a better hit rate off a popular near by suburb.
Cheers,
Bazza
We recently used domain.com.au - totally useless! Not one response in 4 weeks and cost ~$165. I would have preferred realestate.com.au but that is only for real estate agents.
We did much better in the local paper but that was $60+ a time. We ended up putting "....... area" so we got a better hit rate off a popular near by suburb.
Cheers,
Bazza
www.comeandripmeoffcauseicantcheckonyou.com
Aimy
Sorry, as you might have guessed I wouldn't do it. $1,000 for a property manager per year so you can have a life - priceless
Hi Aimy,
I don't use PM's as I think that it is easy enough to do yourself once you have all the forms from the RTA etc. I can see it would be a problem if you had 30-40 IP's though.
How did you come to the figure of $1,000?
Say the rent is $380 pw -> $19.760 pa
PM's charge say 8% -> 1,580 pa plus one weeks rent for getting a new tenant totaling 1,960 pa.
OK, it is tax deductible (less say 30%) = $1,372 pa.
Still reckon it's better to have the $1,372 in my pocket for just a few annoying calls a few times a year!
Cheers,
Bazza
I've had very little success with newspaper adverts. Realestate.com.au has worked wonders for me. Tremendous results! I won't advertise my properties anywhere else. Some agents will do what they call a Let Only deal, where they list on Realestate.com.au, run the opens, accept applications, check references and short list the tenants for you. After you select a tenant, they do the lease, pre inspection and lodge the bond. After that, you manage the property yourself. Prices vary, but around 3 weeks rent is a common figure.
I prefer to run my own opens, select tenants, do the doco etc. So, I've done a deal with an agent to list my property for a flat fee of $110. They pass the enquiries on to me and I take it from there.
For me, this is a great deal. All the benefits of internet advertising at a minimal cost.
Rob
I prefer to run my own opens, select tenants, do the doco etc. So, I've done a deal with an agent to list my property for a flat fee of $110. They pass the enquiries on to me and I take it from there.
For me, this is a great deal. All the benefits of internet advertising at a minimal cost.
Rob
Let Only deal - where are they
Hi Robwilliams,
Would you mind to tell us/me, where to find an agent who do Let Only deal, either/both in Brisbane and/or Melburne?
Thanks a lot.
Aulyna
Hi Robwilliams,
Would you mind to tell us/me, where to find an agent who do Let Only deal, either/both in Brisbane and/or Melburne?
Thanks a lot.
Aulyna
Without answering for Robwilliams, in my experience, when a house comes up for lease, we proceed with the usual Courier Mail adverts and I phone the local estate agents to ask if they will do a "let only".
Some agents don't do them, some do. With the ones that do, I type up a spiel about the house and we usually never hear from them again
However, over the past year or so, whenever my mum or I have been trying to let a house, we have had a really good hit rate with local agents who are happy to try to "let only". It is because the market is so tight, it is easy money for them.
In one case, my mum let a house from a prospective tenant who called the agency looking for a rental. We took over from there. The agent did do reference checks but we did the forms (though they would have done them as part of their fee). For their $440 all they had to do was take a few photos and upload them on the net, and it was rented with one phone call. So I would think it is a good way to make easy money as a side to their usual management business.
We also had a good strike rate from a specialised rental agency recently, when they took photos, posted to the net and brought a number of potential tenants through. In this instance, we rented it ourselves, but at least there was some "action at the station".
I imagine while rentals are tight, it is worth asking a few local agencies if they will "let only" because it is such easy money. I understand that when things are not so tight, they will want to fill the houses they will be managing first.
Wylie
Some agents don't do them, some do. With the ones that do, I type up a spiel about the house and we usually never hear from them again
However, over the past year or so, whenever my mum or I have been trying to let a house, we have had a really good hit rate with local agents who are happy to try to "let only". It is because the market is so tight, it is easy money for them.
In one case, my mum let a house from a prospective tenant who called the agency looking for a rental. We took over from there. The agent did do reference checks but we did the forms (though they would have done them as part of their fee). For their $440 all they had to do was take a few photos and upload them on the net, and it was rented with one phone call. So I would think it is a good way to make easy money as a side to their usual management business.
We also had a good strike rate from a specialised rental agency recently, when they took photos, posted to the net and brought a number of potential tenants through. In this instance, we rented it ourselves, but at least there was some "action at the station".
I imagine while rentals are tight, it is worth asking a few local agencies if they will "let only" because it is such easy money. I understand that when things are not so tight, they will want to fill the houses they will be managing first.
Wylie
Aulyna,
Sorry for the delay. You have to do the leg work. Some do, some don't, even within the same franchise group. It's not easy to find one, but when you do, it's worth the effort, in my opinion.
I'm advertising a unit I settle on in 2 weeks and have tenants competing for pole position already. I should have an agreement signed and 2 weeks rent in hand before settlement day. That really helps my cashflow.
Sorry I can't suggest anyone. If you were in Adelaide, I could help, for sure.
Good luck!! Ley me know how you go.
Rob
We have had success with Harringtons (07) 3217 9386 and Pulse 1300 723 911 in Brisbane.
Harringtons actually found us a tenant, and took several lookers through another property, but in the end our tenant came from the paper. Pulse were about to come around and photograph it when we found our own tenant, so have not experienced what sort of response would have come from them.
Apart from those recent experiences, the local agents will tell you in one phone call whether they are interested or not.
Wylie
Harringtons actually found us a tenant, and took several lookers through another property, but in the end our tenant came from the paper. Pulse were about to come around and photograph it when we found our own tenant, so have not experienced what sort of response would have come from them.
Apart from those recent experiences, the local agents will tell you in one phone call whether they are interested or not.
Wylie
Hi Wylie,
Do you have a charge a rental bond to tenants when managing the IP privately? Note: I am looking at renting one of my IPs to my Folks & just wondering if you have to charge bond or not? Many thanks.
Thanks Rob
Thanks Rob, I thought you are at Melburne, don't have any IP at SW.
Happy new year to you.
Thanks Rob, I thought you are at Melburne, don't have any IP at SW.
Happy new year to you.
Hi Bazza,
I negotiated my rates to 6.6% and they'll drop to 5.5% when I give the PM another 2 IPs to manage as well.
My rents are mostly around $250pw and as you say it is tax deductible.
No way do I want a few annoying phone calls x 8 tenants per year....... I get annoyed just hearing from the PM's
I just want to outsource the problems and get on with the investing / deal making bit
Happy New Year!
Aimy
Thanks Wylie
Thanks Wylie for your kindness.
Haveing an IP in Brisbane, the pm charged more than we agreed over the phone before sign the contract. (as it's my first IP, so only work out the real rate later. )
Happy New Year to you and your family.
Aulyna
Thanks Wylie for your kindness.
Haveing an IP in Brisbane, the pm charged more than we agreed over the phone before sign the contract. (as it's my first IP, so only work out the real rate later. )
Happy New Year to you and your family.
Aulyna
We take the bond and lodge it within ten days of receiving it, and it must be lodged with the RTA.
As to whether you HAVE to take a bond, I don't know the answer to that one, but the RTA will give you an answer. Obviously if you are renting to your parents, it will not be a trust issue, rather a taxation or record keeping issue.
RTA website has buckets of information, or give them a call as they are most helpful.
Wylie
Hey Rob, I would love the contact for your $110 RE.com.au deal agent.
I self manage and am really pissed at RE.com.au that they do not accept private ads or even reply to emails asking why.
I am very tempted to buy shares in REA and ask the question at the AGM, where they will have to answer.If you are not happy to post, then a PM (private message, not a property manager
) would be great.Thanks
Mike
i believe from that realestate.com.au was setup by a few agents, with an supporting arrangement that it was not to compete against realestate agents, rather as an additional means of connecting with the end users.
I'm pretty sure McGraths was one of the initial founders of realestate.com.au
I'm pretty sure McGraths was one of the initial founders of realestate.com.au
www.comeandripmeoffcauseicantcheckonyou.com
Aimy
Sorry, as you might have guessed I wouldn't do it. $1,000 for a property manager per year so you can have a life - priceless
That link is dead
