Self-managing landlords?

[MichaelaS]

I am interested to find out what resources self-managing landlords use other than this forum? A lot of the discussions on here are about property managers, and I would like to interact more with people who manage their properties themselves, like I do and have done for a long time.

Are there any other forums, websites, publications or even property groups who meet in person that are more tailored towards landlords like me and where I can exchange experiences and information about self-managing?

Many thanks

 

[Dazz]

I am interested to find out what resources self-managing landlords use other than this forum?

Why not just read / understand / master, the only definitive source of information - the RTA in your state.

That's all the PMs use. They have no special powers, no extra pieces of knowledge available to them over and above Owners.

It's all set out in its ugliest form in the RTA.

There is nothing else to reference that is binding or enforceable other than the words in that little booklet.

 

[Belbo]

I am interested to find out what your assignment question specifically asks.

 

[BlackSheep]

Why not just read / understand / master, the only definitive source of information - the RTA in your state.

We have always self managed our properties and I agree with Dazz, a strong understanding of the rules is the best place to start.

Other than that the single best piece of advice I can think of is to remember it's business. The moment you show signs of weakness and do tenants a favour over and above what is required of you, you can almost guarantee it will come back to bite you. Treat em mean and keep em keen I say!

 

[The Fence]

Exactly what BlackSheep said....!!

Only you are not treating them 'mean' at all, you are working within the rules and yes it is business.

We only had a tenant this week say that they would not accept a rent rise (like $10-15) because the neighbours were noisy drunken fools and the police came the other day etc etc.

We replied that this has nothing whatsoever to do with the level of rent and the determining of it. What they can do is either appl,y to the tribunal for a reduction of the 'rise' or move out...!!

I can't believe they expect us to take the blame for the neighbours and suggested that if these neighbours moved out and 'great' neighbours moved in, then could I raise the rent then...???


LOL...some people.....

 

[weg]

I can't believe they expect us to take the blame for the neighbours and suggested that if these neighbours moved out and 'great' neighbours moved in, then could I raise the rent then...???


LOL...some people.....

The tragic thing is there'd be some LL's (and PM's) that would be manipulated much more easily than you or me.

I'd say people that pull these stunts have had luck with this sort of crap in the past.

 

[MichaelaS]

Thank you all for your replies so far!

Dazz,
that is very true and we all need to understand it in detail, but I am interested in sharing tips beyond just what the law says.

Belbo,
I am not sure I understand your question? I'm not a student, therefore don't have assignments?

Agree with what the others have said, just wondering if they are any property clubs or other forums whare you exchange information and tips with other self-managers?

 

[Dazz]

I am interested in sharing tips beyond just what the law says.

Good luck with that !!

You might need to take that discussion to another forum however. People in the past have tried to discuss unlawful procedures and they get quickly deleted....cos the forum rules prohibit unlawful activities.

The "envelope" you are allowed to operate within as a Landlord is defined by the RTA. Stepping outside those confines....and you're playing a very dangerous and expensive game. You won't find too many who'll join you....certainly no-one who wishes to keep their assets intact.

 

[MichaelaS]

Hi Dazz,

I have no intention of discussing 'unlawful' procedures or stepping outside 'the envelope of the RTA'?
There are things that are relevant to self-managing landlords that have little to do with the RTA. For example, what do I do if my most promising application is from a person with no rental history in Australia, because they have just moved here from overseas? Other landlords would discuss this situation and probably be guided by the property manager but we have to make these decisions ourselves.
Or, what is the best landlord insurance if your self-managing? Or is it worth advertising on rent.com.au?

I know some of these things have been discussed here before it would just be nice to find everything relevant in one place, and my question was, do you know of such a resource off or on-line?

 

[Lil Skater]

Hi M,

I'm not sure if there is a forum specifically for self managing landlords - But perhaps conducting a quick Google search may have something for you.

If you can't find what you're after, there are plenty of members on SS who self manage, and if you have any questions etc. I'm sure someone who self manages would love to help out.

There are also many investment forums around, again a Google search or a search for other threads on here will also recommend other sites similar to SS.

 

[Belbo]

Belbo,
I am not sure I understand your question? I'm not a student, therefore don't have assignments?

Agree with what the others have said, just wondering if they are any property clubs or other forums whare you exchange information and tips with other self-managers?

Apologies then. My bad. Just confused by the question.

Yes, I do self-manage a couple of properties. No, I don't have any other website suggestions. No, I wouldn't be prepared to discuss or promote discussion of anything outside the law. Yes, I do think if you've actually self-managed for a long time that your questions are not undergraduate, but are instead dubious.

 

[whynot?]

This website is a wealth of information. It is currently WA based. Worth a look at!


http://www.privatelandlords.com.au/

 

[NSWinvester]

Hi MichaelaS, I think your looking for a "silver bullet" to your answer, there is no one answer, it is a learning process and you gradually learn over time.

I manage my own properties, so I say it is very important to treat people the way you want to be treated and be fair. Fair meaning understanding the rules and regulations, so I would start off by reading that.

This forum is also very helpful, you just have to ask the right questions. I'm still learning and there are a lot of people smarter and more experienced than me on this forum

 

[Jody in Darwin]

Hi Michaela,

As someone else said - it is a learning process.

Ask your questions on this forum - self managers and property managers alike will help you.

Kind regards,
Jody

 

[MichaelaS]

WhyNot,

Thank you very much for your response and the link, this is exactly the kind of information I was after.

 

[fokas]

I know some of these things have been discussed here before it would just be nice to find everything relevant in one place, and my question was, do you know of such a resource off or on-line?

Maybe the mods can look into setting up a separate section on the forum specifically for this?