For rent by Owner- Rent & Self manage my property online privately-----Everything you must know
Is it legal and can i Rent & self manage my property privately?
This will be the first question that many landlords/owners will ask. Yes, absolutely it is 100% legal to rent & self manage your property privately in all states and territories: Many people had done this before. Thanks to the modern technology, many people are renting their property online privately at the moment than ever before, 95% of buyers are looking their properties online especially on realestate.com.au etc; we will help you to advertise your property for rent on realestate.com.au etc for a just flat fee without paying an agent commission. You can be your own agent to simply open the door, talk to the buyers and sign the contract; because you are most familiar with your own property than anyone else in the world!
How can I rent & self manage my property privately without an agent?
1. Get ready for your home for lease
you need to make sure they are in presentable condition This involves a good clean of your property, repairing the broken things and possible some decoration of your property. Just thinking from a prospective tenant's perspective, how they feel when they first walk into your property? Is it clean and presentable or messy not ready to show.
2. Take some nice pictures
Presentation is the key; first impression matters, people are attracted by nice pictures so take some time to make your pictures look great as this will help to generate more views of your listing online.
Just remember a photo is worth of a thousand words; Some tips below:
Choose a time which enhances the best light during the day to best present your property;
Tidy and prepare your rooms before taking any photos; try with the best angle to have a wide angle shot;
Photo editing on your phone or computer to make picture looks more appealing
For the best results, we suggest to contact your local real estate photographers to do the photos for you as it is a one off investment but definitely worth the value; some of the professional photographers also provide service such as virtual furniture to you instead of spending lots of money for real furniture staging, virtual furniture is a cost effective tool to make your online pictures more appealing. You can still hire professional property staging/styling company for your property to make people to feel like home.
3. Set up a price
You are competing with other properties on the market so it is really important to consider the factors below:
Similar properties on sale now or sold in the past
Location, convenience and amenities
4. Write a nice catchy description
Headline is really important!
Nice description to highlight your property features
5. List your property with us
You can Register an account for free and create your listing first; You only need to make a payment, once you want your listing to be live on the major portals e.g realestate.com.au etc
6. Set up your inspection time
Can be open house or by appointments; you are in control
7. Go through applications, select a tenant, approve the application and asking for a holding deposit
Check tenants employment status
You need to send the information disclosure sheet to tenant’s landlord/employers to check these information
You can also conduct a tenant reference database check to see if the tenant had been blacklist in the national database;
Once you agreed with your tenants for the lease price and terms then send out a formal approval Email to approve your tenants; ask one week holding deposit for your tenants to secure the property; tenant can pay the remaining 1 week rent and 4 weeks of bond upon signing the lease (Please check with your State or Territory regulation for the maximum deposit/bond amount) so normally is 2 weeks rent in advance+ 4 weeks of the bond
8. Lease agreement, key sheet, bond, ingoing report, other documents required by State/ Territories
You need to prepare the lease agreement which the lease agreement can be downloaded in your relevant states regulation body and arrange a time to sign with the tenants
A key sheet signed by the tenant includes all the keys, swipe cards, remote controls etc. which you issued to the tenants
You need to lodge the bond to your relevant state/Territory regulation after you received the bond.
Lastly, a detailed ingoing report with photos will help you to capture all the details in the property; you need to give tenants a copy of this ingoing report and the tenants need to return a copy of their completed report within a timeframe required in each State/Territory; this ingoing report is the evidence not only at the beginning of the tenancy but also the evidence to cross check when tenants vacating the property
Give your tenant a copy of signed lease, copy of signed key sheets and ingoing report; keep a copy of everything for yourself as a record. (Strata by-law if in a strata tile community; please also check additional documents required by State/Territory to issue to your tenants
9. Landlord Insurance
landlord insurance will give you peace of mind when managing your property privately
- Covver for loss of income : this can be due to a tenant who can not pay the rent or abandoned a rental property
- Protection against damage: This can be malicious damage by tenant or natural event outside of your control, e.g leaking upstairs, flooding of property etc
- Protection against tenant lawsuits:Landlord insurance can provide legal defense and coverage for damages if a tenant sues the landlord for an injury or other issue related to the rental property.
10. Ongoing communication
Exchange contact details with your tenants; keep good communication during the tenancy as good communication will solve lots of problems during the tenancy; attend tenant’s repair request to minimize the risk of litigation as some of the repairs will be wear and tear in the property;
We have an online platform with technology to help you to self manage your property digitally with the features below, Click here to view more information
- Advertise your property on the major portals such as realetate.com.au etc
- Create and manage your listing 24/7 from your own account dashboard
- Receive online enquires with automated responder
- View online rental application with a few clicks of button to conduct rental/emploeyment refererence with preivous agent/landlord/employer
- Run online national tenancy database Check
- conduct digital ingoing, routine and outgoing inspection
- Record rent payment and expense
- Automated generated rental receipt
- financial statements including monthly statement, EOFY report for your account
- Schedule repairs & maintenance
You can also view our state by State guideline per links below:
Rent & manage my property privately in NSW
Rent & manage my property privately in QLD
Rent & manage my property privately in VIC
Rent & manage my property privately in WA
Rent & manage my property privately in TAS
Rent & manage my propertyprivately in SA
Rent & manage my property privately in ACT
Rent & manage my property privately in NT