Forums / Property Investing / General Property / Privately Managing Property

Viewing 20 posts - 1 through 20 (of 21 total)
  • Profile photo of mrpropertymrproperty
    Member
    @mrproperty
    Join Date: 2005
    Post Count: 49

    Hi all ,
    I have just purchased an investment property and would like to management it myself rather than use an agent.
    I have a month until settlement and I was wondering if anyone could tell me the best way to market the property , are you allowed to list it on realestate.com.au , are their specific sites for this?
    any advice would be much appreciated.

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,850

    only domain.com.au allows private listings

    You may have some luck with local newsprint as well

    Profile photo of cuteyoungchiccuteyoungchic
    Participant
    @cuteyoungchic
    Join Date: 2010
    Post Count: 66
    mrproperty wrote:
    Hi all ,
    I have just purchased an investment property and would like to management it myself rather than use an agent.
    I have a month until settlement and I was wondering if anyone could tell me the best way to market the property , are you allowed to list it on realestate.com.au , are their specific sites for this?
    any advice would be much appreciated.

    Is there a To Let section in your local paper that the property could also be listed in?    
    Suggest by whatever method you choose, you ask for 2 references (that you make sure you follow up), preferably from prior landlord/s.    Also drive past their most recent address to see it's condition).    Also search your state Consumer Protection website for rental forms that you can download & use.
    Tenants who've been in some sort of breach of agreement with Real Estate Agents are listed on an Australia wide data-base, so no other agent is likely to accept those same tenant's rental property application.    Those tenants therefore head straight for private landlords, so any applicant is needed to be screened absolutely thoroughly.
    Hope it works for you, but if there's a problem with a tenant, the 9.25% (or whatever property management fee's charged in your state) looks pretty small compared with the problem-solving effort that may be required on your part.
    Cheers,

    Profile photo of quattro4quattro4
    Member
    @quattro4
    Join Date: 2011
    Post Count: 17

    Rent.com.au seems to work well too. I have had 150 views in 10 days.

    Cost 149.95 to list for 24 weeks.

    Cheers,

    Q

    Profile photo of Marie123Marie123
    Participant
    @marie123
    Join Date: 2009
    Post Count: 176

    My friend has successfully rented two of her houses out through GumTree.

    That might be something you could try?

    Marie.

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    In Canberra, Queanbeyan and some outer regions there’s one site that everyone uses – http://www.allhomes.com.au

    It’s about $150 – $200 for a rental listing. We’ve always had good responses through it.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of Andrew_AAndrew_A
    Participant
    @andrew_a
    Join Date: 2003
    Post Count: 392

    Good advice so far, getting on realestate.com.au is close to essential.

    Also.. don't underestimate the power of a good sign stuck in the front lawn, very powerful.

    Profile photo of mrpropertymrproperty
    Member
    @mrproperty
    Join Date: 2005
    Post Count: 49

    thanks guys , I have just been informed that you have to be a agent to list on realestate.com.au ,does anyone know if this is true?

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,850
    Scott No Mates wrote:
    only domain.com.au allows private listings

    You may have some luck with local newsprint as well

    Sorry to quote myself but that’s what I was alluding to. You will need to put it on domain.com.au as the other is agents only.

    Profile photo of quattro4quattro4
    Member
    @quattro4
    Join Date: 2011
    Post Count: 17

    All, I have found rent.com.au to be excellent. I have an agent mate who has my place advertised on realestate.com.au, and i have privately advertised it on rent.com.au.

    I have had more queries on rent.com.au.

    Rent.com.au allows private listings.

    Profile photo of mrpropertymrproperty
    Member
    @mrproperty
    Join Date: 2005
    Post Count: 49

    thanks guys , I think I will give rent.com.au a go!! :)

    Profile photo of rudra_rrudra_r
    Participant
    @rudra_r
    Join Date: 2009
    Post Count: 61

    Hi,
    I just listed mine on Gumtree and paid the $1.99 to be listed on page 1 and received 686 views in 3 weeks with 5 replies via the form on Gumtree and about 10 phone calls. I think it is definitely worth it given it’s free to list with an option to pay if you want to highlight your ad etc…

    Cheers
    Rudra

    Profile photo of maree_bradrossmaree_bradross
    Member
    @maree_bradross
    Join Date: 2007
    Post Count: 401

    I urge you not to privately manage your IP, it makes it all too personal imho.

    If you are set on managing it yourself, please protect your privacy by only giving your tenant a mobile phone number and email address (no landline numbers). Also make sure you use a PO Box for correspondence – preferably not in the suburb your living in.

    Profile photo of Jason700Jason700
    Member
    @jason700
    Join Date: 2011
    Post Count: 17

    Look I'm gonig to have to agree with a couple of the people here.  If you manage your investment property yourself you will run into various problems.  However, I'd like to point out one majour problem and that is…

    If you are looking to rent it out immediately then it may take you some time trying to find the suitable tenants.  Time = money.  Therefore lets just say you save on the 8% or whatever the company charges.  For illustrative purpases lets just say it's 10%.

    Lets say the rental agency takes 21 days to find a suitable tenant.  Let's say it'll take you one or two or three weeks longer to get the suitable tennant.  That'll mean that to recoup your losses you will have to rent out the place for 10, 20 or 30 weeks.  These tenants may not last that long.

    Also, what happens when the tennants dont pay on time.  Who follows it up?  What happens when there is a dispute.  Are you ready to go to the tribunal and waste even more time.  Use the simple economic theory you stand to earn more money doing your own job then spending time trying to fix up your property management

    Profile photo of maree_bradrossmaree_bradross
    Member
    @maree_bradross
    Join Date: 2007
    Post Count: 401

    good point Jason – yes if you need to go to a Tribunal Hearing it will be where the rental property is (or nearest major town). So unless you live close by it is a major pain to attend

    Profile photo of wisepearlwisepearl
    Member
    @wisepearl
    Join Date: 2009
    Post Count: 264

    Something I have done in the past is negotiate with a property manager to provide me with a listing only service. I paid 2 weeks rent+ GST to her for her to take photos, advertise on her own company website and the various real estate ones, and field the queries. she showed people through the apartment, did background checks, wrote up the lease agreement, and then once the tenant moved in I managed the ongoing stuff. Was an excellent deal.

    Tried again last year, she put price up to $1000 + GST (rather than 2 x expected weekly rent of $440) but I ended up deciding to sign up an agent. I signed them for just 6 months, and have not been very satisfied with the services so will likely not renew their contract and revert to self-management again.

    Its tough to find, most managers wont even consider a listing only, but if its a good property and they can see it should be easy to find a tenant, its a quick way for them to make some $, you to find a tenant, and the peace of mind in knowing everything has been done correctly.

    Profile photo of SandraLSandraL
    Member
    @sandral
    Join Date: 2010
    Post Count: 45

    Hi MrProperty.

    We provide listings on realestate.com.au as part of our rental package. You also get an ad on domain, and a number of other services for $199. Feel free to message me if you need more information 

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    Jason700 wrote:
      However, I'd like to point out one majour problem and that is…

    If you are looking to rent it out immediately then it may take you some time trying to find the suitable tenants.  Time = money. 

    This hasn’t been my experience. Since self managing, we’ve never had a property vacant – one tenant leaves, another arrives. This wasn’t the case when using PM’s – one property sat vacant for two weeks (the same property that we receive a number of applications for each time it becomes available).

    Self managing isn’t for everyone, but it works for us.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of wisepearlwisepearl
    Member
    @wisepearl
    Join Date: 2009
    Post Count: 264

    Jamie – do you have techniques you’d like to share about how you manage such low vacancies?

    Profile photo of ksherwellksherwell
    Member
    @ksherwell
    Join Date: 2007
    Post Count: 125
    mrproperty wrote:
    Hi all ,
    I have just purchased an investment property and would like to management it myself rather than use an agent.
    I have a month until settlement and I was wondering if anyone could tell me the best way to market the property , are you allowed to list it on realestate.com.au , are their specific sites for this?
    any advice would be much appreciated.

    You could use flatmatefinders.com.au and rent the home out, room by room. It would give you more rent.

Viewing 20 posts - 1 through 20 (of 21 total)

You must be logged in to reply to this topic.