Renting property privately

[ritchie77]

Looking at renting a granny flat in Sydney..... Other IP's are rented through agent but this one would like to self-manage and see how we go (it is closer and we managed to secure a good tenant for the house ourselves so thought we would give it a go).

Have managed to get the Bond forms, lease applications and inspection reports together. Are there any other additional forms others could recommend?

Re the granny flat, it is not available for a couple of weeks and would like to advertise it now.... It is up on Gumtree.... Are there any other sites? I was thinking the Sydney uni website and maybe some local ads?

Is it possible to advertise yourself on domain or realestate.com.au or not yet?

Look forward to feedback guys.....

Thanks

Ritchie

 

[neK]

I think you can post on domain

http://www.selfservice.domain.com.au/

 

[ritchie77]

Using Gumtree because it's FREE

Yep, just had a look....... Domain costs $150..... Was looking at putting it on a few free websites first to se how I go as there is a couple of weeks to settlement.....

Had good response from Gumtree!

Any others to recommend?

 

[Just RentSydney]

I would recommend using domain.

There is a much higher volume of traffic on this site and you will tend to get taken more seriously than an ad on gumtree which looks a bit cheap.

Of course the more people looking at your ad, the higher likelihood of finding a tenant quickly, therefore a lower vacancy rate.

Good luck.

 

[MichaelaS]

I used www.landlordschoice.com.au to find tenants last time and thougt it was very good. You can advertise on domain and realestate.com.au through them and also get the legal docs from them. Have previously used Gumtree and had a lot of spam and it took ages to get tenants.

 

[neK]

Ritchie, your place isnt located in the inner west near a train station by any chance? If so i might be interested.

Just had a quick look at Domain's prices.... wow they really try and bend you over dont they.

 

[ritchie77]

Nek

Yes it is actually, Canterbury and very close to the station (Jeffrey Street - near Aldi)......

It is a 1 bedroom g/flat however the kitchen/shower/toilet are external therefore probably suit more a student/single person that does not cook a lot.....

If this is you - or you know somebody please PM me..... We are conducting an open house this Saturday between 10 and 11......

 

[Simon]

Yep, just had a look....... Domain costs $150..... Was looking at putting it on a few free websites first to se how I go as there is a couple of weeks to settlement.....

Had good response from Gumtree!

Any others to recommend?

Yes - but it will reach many more people.

if it get's you an extra $20 pw then it was worth the $150?

Do the numbers but don't be scared of the numbers.

 

[neK]

Almost, external toilet and kitchen is the deal breaker unfortunately. LOL

Actually i think i might know which house you bought.

If its the one im thinking of you are better off placing a classified in the chinese/vietnamese newspaper and rent each room out separately.

Personal thoughts on the place (if its the one im thinking of).

• I dont think its certified to be a granny flat. The agent dodged my question on the certification (not very skillfully, but i thought if i kept going it would annoy him).
  
• It may not meet the regulations as i think its below the minimum height requirement of 2.4mm which means its an illegal conversion so your insurance may not cover you if something happened to the tenant (more reason to go with the asian newspapers).
  
• If it does meet the requirement, perhaps get it certified and approved by the council.
  
• Also see if you can add a shower and toilet to the existing dwelling (from memory it kinda had two rooms, one normal size, one more hallway size).
  
• Try and fence it off so the tenants enter via the backstreet instead as opposed to the driveway.

Also are the tenants who are looking to rent the main house happy for some random in their backyard? Perhaps its easier to increase the rent of the main house and allow the tenant to sublease (not that you would recommend it, but rather turn a blind eye to it).

Also, how are you conducting an open house if settlement hasnt completed yet? Arent the current owners/tenants still living there?

 

[Skeetaboat]

Another fan of landlordschoice.com.au -$199 for a domain ad, realestate.com.au ad, national tenancy database check and all the leasing docs

 

[ritchie77]

Thanks guys

Nek - not sure if it is the same one you mention? Did note the potential issues re council etc but have now covered these off....

We have had a number of applications from the weekends open house - unbelievably one of them was a family of 4!!

This g/flat would defenitely be more suited to an international student/single person and maybe the chinese/voetnamese newspapers may be worth a go.... Can you advise which one and how I go about advertising in English or do u get them done in chinese? I Have a contact that could organise if needed - but she is in Canberra and unlikely know details of local papers in the area...

Thanks

Ritchie

 

[YoungGun]

Have managed to get the Bond forms, lease applications and inspection reports together.

A close friend wants to rent my property. How do I obtain these forms?

Previously my PM submitted Bond forms etc. I'm not quite sure what the procedure is from here.

 

[kathryn d]

A close friend wants to rent my property. How do I obtain these forms?

Previously my PM submitted Bond forms etc. I'm not quite sure what the procedure is from here.

Congrats on wanting to self manage.
I know many will say you shouldn't rent to friends (and maybe for the sake of the friendship, that is true) but on a business prospective, it should work well.
You don't need to spend that money on advertising, PM fees etc
If they do a runner, you still have the bond.



PS. Forms etc are on www.fairtrading.nsw.gov.au
and then follow the links Tenants and Homeowners and Being a Landlord

 

[MichaelaS]

So how did you go with the big decision? It's not easy making the move to self-managing, but I have found it is worth wile. That's true of course until you meet the horror tenant

 

[kathryn d]

So how did you go with the big decision? It's not easy making the move to self-managing, but I have found it is worth wile. That's true of course until you meet the horror tenant

Not trying to insult any good PM's that may be on this site...but do you see the PM's being mentioned (in general) doing a better job?
They seem to be working in the favor of a tenant, who is NOT their client.

Wylie self manages, and has stated on many occassion, there is help for a landlord there..all you need to do is call and ask.
They will walk you thru the proper steps.