Hi all. I am just wondering if anyone managing the rental property themself?
If you have a reasonable tenant…
My Agent is not doing a great job and my rental is in the same building so I think with a good tenant in place I can manage it myself and safe 9% on the commission.
Just need a great user friendly platform.
There are so many on the market I noticed.
Any advice much appreciated
cheers All
hmmmmm
Interested to see the responses here. I've just leased out my place to a work colleague. In the current rental situation thought I'd help them out and offer the place a bit cheaper and cut out the costs of an agent so we both benefit.
I've just used all the standard forms from the RTA in my state and it's been pretty straight forward.
thanks! I think the same as well. No need to increase rent significantly.
But I am sure there are great portals for use at a very low fees and everything is properly accounted for like rental income
Yikes.
If your work colleague has any issues with your IP later and for whatever reason you don't resolve them, they'll come after you.
Also try telling your colleague you're raising the rent later and see how well they're gonna respond to you in the workplace afterwards.
I use agents to keep tenants away at arm's length.
I should add that I no longer work at that workplace.
With the current rental situation I see it as a win-win for both of us. A nice family gets a good place to live (A significant mental stressor taken away as they were really struggling to find a place) and I don't have to deal with estate agent letting fee's etc. By the time all of that is said and done I'm in the ballpark of market rent minus expenses and know the property is in good hands.
I've just used all the standard forms from the RTA
Those car registration forms will assist greatly with any tennancy disputes.
All jokes aside, renting to a work colleague, that can never end well.
agree))
I've managed my own properties since 2007. And it's very straightforward. Just research the applicable tenancy contract, bond lodgement and condition report templates and you'll be well on your way. The most important step is securing quality tenants. With this in place, the property will look after itself.
I work for a large multinational so I just advertise on our intranet site for a ready pool of candidates. If you can do something similar it will save you from having to go public. Either way, vet prospective tenants very closely.
Once everything is established, you should (depending on the age of the property) rarely hear from them. My thinking has always been why pay for something I can do myself. I think I've saved tens of thousands over this period. Good luck.
wow well done. Great to see some people do not hesitate to do this themself. And save substanatial amount annually actually
Real estate agents have a fairly shoddy reputation in the ACT and I was loath to pay for bad service. And when I discovered there isn't much to managing your own property, it became a no brainer.
Which insurers allow this without a registered agent? That would be my concern if chasing tenant damage / rent default.
Any insurer that offers landlord insurance is fine
I've used cubbi and found it to be very straightforward.
thanks will give it a try probably
all in all Cubbi seems top be a good one for personal rental.
A friend of mine has helped with a tenant at first.
Cubbi online rental agreement is not good enough so we made an online one and also separate on paper.
Payments are flawless.
Also easy to manage all property expenses in one place.
I really like it.
Their online support Team also replying quickly enough to resolve any issues.
to anyone who is thinking to do it on your own I would personally recommend CUBBI
Based on the above … This plan