Where to find tenants?

I need to find a tenant for my Kensington rental. Had no luck with the papers yet, does anyone know of any good websites to advertise on. Realestate.com.au wont let me as they say I need to use an agent.

Please help as costing me money each day without a tenant.

Cheers

Dave
 
As you appear lost on even the first step of finding a tenant, I'd suggest you just go through a real estate agent and have them manage the property for you. It does not appear you have enough knowledge to self manage the property. Agent cost are about 7%.

Otherwise, maybe try Gumtree. But with anything in the paper, or free on the web, be prepared to have applications from some less than desirable tenants material.
 
Agent cost are about 7%..
Not so in Perth. The land of rediculous management fees.

.
Otherwise, maybe try Gumtree. But with anything in the paper, or free on the web, be prepared to have applications from some less than desirable tenants material.

Try Gumtree like Bluestorm suggested. My daughter was using Gumtree when she was looking for a rental. No guarantees, but it's free to advertise & can't hurt.
 
You can advertise on realestate.com.au. You just need to search these forums or find an agent willing to place the ad for you at a negotiated price.
 
I believe domain.com.au will allow private landlords to advertise?

I do have to agree with bluestorm, see if you can get an agent to agree to a letting only. They will charge you to lease the property to new tenants and then you can manage it if you want to. They will then advertise on all of the sites for you, screen applications and arrange the lease agreement etc. for you.

Good Luck.
 
Many of the larger agencies will arrange a let only.

Just cross off the management parts of the agreement and come to an agreement on the letting fee.

For a little over 1 weeks rent - no hassle.
 
I need to find a tenant for my Kensington rental. Had no luck with the papers yet, does anyone know of any good websites to advertise on. Realestate.com.au wont let me as they say I need to use an agent.

Please help as costing me money each day without a tenant.

Cheers

Dave

as others have said.

And put up posters all over the place in the local area, lots of tenants are not actively looking to rent but will switch rentals if they think you provide a better alternative.
 
Ask an agent and have them charge a letting fee only and not retain them for ongoing management.

Doing it alone is just going to cause you problems later - you'll have no way of screening out tenants and end up with trash living there trashing your place.
 
Ask an agent and have them charge a letting fee only and not retain them for ongoing management.

Doing it alone is just going to cause you problems later - you'll have no way of screening out tenants and end up with trash living there trashing your place.

Bit of a sweeping generalisation. We've done it without an agent for 30 years, and it is only the past two years that we have had an agent find the tenant, and that was only due to a family illness that needed our full attention.

In all that time, my mother and I used to do our own "gut feel" investigations. Never looked at payslips, never called for references, and in all that time we only ever had less than a handful of bad tenants.

Actually, the first time we had an agent find us a tenant they put in an ex-hooker who ended up abandoning the house. That put us off that idea for another several years. They probably saw an easy way to make a week's rent without having to deal with the dross they sent our way.

In fact, we found that many tenants (mainly older tenants not happy to be judged by a young PM having such power) were sick of being treated like rubbish by agencies and having to be judged worthy or not by a stranger that they chose to rent privately to avoid having to deal with PMs. Of course, there were also those tenants who couldn't rent through an agency due to a bad rental record, etc, but we always found those quite easy to pick.

These days though, unlike earlier years, the internet has made it almost a waste of time advertising in the newspaper, which was the only place we could advertise (until recently when a few sites made it easier to get on the main sites).

I don't suggest others do what we did, and go mostly on "gut feeling" but it very rarely let us down. When it did, it was generally due to accepting less than ideal tenants due to financial pressure to get some income flowing. In other words, our "gut feeling" didn't let us down but our need for cashflow meant we didn't listen to our gut.

We have tenants moving out soon, and we have decided to have an agent find us a tenant in exchange for a week's rent plus GST. That is another thing I found was a waste of time over many years... finding an agent who would actually find a good tenant knowing they would not be managing it. We have found a great agent and plan on sticking to this plan for the moment. I'm impressed with the investigation they do, and maybe I'm just over doing it myself.
 
Have you thought of renting out to University students in that area?

I need to find a tenant for my Kensington rental. Had no luck with the papers yet, does anyone know of any good websites to advertise on. Realestate.com.au wont let me as they say I need to use an agent.

Please help as costing me money each day without a tenant.

Cheers

Dave
 
It’s common for private managers do get a disproportionately high level of bad tenants because these bad eggs know that they don’t have access to the tenant databases and/or don’t know the correct eviction procedure.

Rent.com.au is a good option and there are some avenues to get on re.com.au.

However do that maths:
1 weeks missed rent = $350
$350 * 50 weeks = $17,500
350/17500 = 2%

Break even on management fees is about 4-5 weeks no rent. That is not taking into account the time, higher marketing exposure and professional advice you can get from a good PM.

I’m not saying sign up for a manager straight away, but when it is making economic sense to do so.
 
I need to find a tenant for my Kensington rental. Had no luck with the papers yet, does anyone know of any good websites to advertise on. Realestate.com.au wont let me as they say I need to use an agent.

Please help as costing me money each day without a tenant.

Cheers

Dave
I rented one of the flood jobs out last week,Government paid for the bond 2 weeks rent ,the add was a simple small paper on the local free Woolworths whiteboard cost zero,sometimes you only need to think outside the box..i just goes on my gut-mind-and look into their eyes
because the eyes never lie..
 
i agree a good old fashioned eye-balling and intuition is great, but is that all you rely on?
As a PM I have a little more than this but it is where I start with every application!!!! If I'm not happy after the eye-balling then generally things don't go too well with that application.
 
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