Renting out the house while travelling?

Submitted: Sunday, May 24, 2009 at 19:42
ThreadID: 69138 Views:3536 Replies:11 FollowUps:17
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We are hoping to had off around OZ for a 12 month trip some time in the next few months. We would like to rent our house out without using an agent and ideally fully furnished. Has anyone got any ideas on where the best place to advertise this.

By the way its a 4 br 3 bathroom house at samford, 20km from Brisbane cbd. it is on 7 acres of paradise. if anyone is interested let me know. shoud rent for about $680.00 per week cash.
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Reply By: Member - daz (SA) - Sunday, May 24, 2009 at 20:57

Sunday, May 24, 2009 at 20:57
Who screens your prospective tenant
Who has the list of defaulters & house wreckers.
Who completes the quarterly inspections.

What happens
When the tenant defaults.
Maintenance needs to be done
The rates etc need to be paid

You want to be away for 12 months with peace of mind
Not running back every 5 minutes to see if all is well with your property.

Leave the letting to a professional. It is cheap

It will save you all the hassell & give you peace of mind whilst away,

& no I am not a real estate agent.

Daz
AnswerID: 366539

Follow Up By: blueriderwa - Sunday, May 24, 2009 at 21:06

Sunday, May 24, 2009 at 21:06
Thanks for your concern ....but do you have an answer to my question?
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Follow Up By: Member - Graham H (QLD) - Sunday, May 24, 2009 at 21:09

Sunday, May 24, 2009 at 21:09
In my experience of renting the more you charge the less they care for the place.
I rented a house through an agent for 12 months and due to damage refused to pay bond back.

Kids swinging on clothes line broke it.
Pulled stuff around corners and ripped wall paper back to bare wall
Painted on the bedroom walls.
Broke a table.


Agent said that was acceptable.

Sold house and sacked agent.

Rent obtained is also taxable income.
Bond must be paid into a a Govt dept holding fund.

Not worth the risk in the present economic climate.






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Follow Up By: Member - Graham H (QLD) - Sunday, May 24, 2009 at 21:12

Sunday, May 24, 2009 at 21:12
The short answer to your question would be the Courier mail Real Estate Pages which the ATO also have been known to read.







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Follow Up By: blueriderwa - Sunday, May 24, 2009 at 21:13

Sunday, May 24, 2009 at 21:13
Thanks gain for your informaiton ..... but do you have an answer to my question?
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Follow Up By: blueriderwa - Sunday, May 24, 2009 at 21:15

Sunday, May 24, 2009 at 21:15
ahhhh yay an answer to my question ... thanks .... what i am wondering is are there any web sites that specialise in private renting ? or renting in general ?
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Follow Up By: Bushwhacker - Sunday, May 24, 2009 at 21:45

Sunday, May 24, 2009 at 21:45
blueriderwa,
You want to go to the trouble of leasing your 'house in paradise' without professional help, but you don't even know where to start looking for prospective tenants?? My suggestion, take the counselling. 'Whacker
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Follow Up By: blueriderwa - Sunday, May 24, 2009 at 22:14

Sunday, May 24, 2009 at 22:14
Whacker,
What i am trying to do is get some advice on a topic which is quite appropriate for this forum given that there is a chance that other people on this site might have done something similar. I am not looking for a whole heap of advice or "counselling" on whether i should or shouldnt do it. Its pretty simple really .... you can be it i had posted that i am going to rent with an agent there would have been 10 post suggesting that i should do it privately!
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Follow Up By: Member - Graham H (QLD) - Sunday, May 24, 2009 at 22:23

Sunday, May 24, 2009 at 22:23
Yes it is simple Use Google.

Mosty people answering questions on here, if they havent had the experience themselves use it to find the answers.

The answers given so far are trying to be helpful, something that seems to upset you.

As you dont seem to think we are doing what you want try it.




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Follow Up By: Shaker - Sunday, May 24, 2009 at 22:24

Sunday, May 24, 2009 at 22:24
I Googled it & found a Brisbane based site for private rentals in about 15 seconds!
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FollowupID: 634285

Follow Up By: Member - Graham H (QLD) - Sunday, May 24, 2009 at 22:37

Sunday, May 24, 2009 at 22:37
My Point exactly


Google and self help are wonderful to use before posting.

Can save a lot of hassle.







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Follow Up By: get outmore - Sunday, May 24, 2009 at 22:55

Sunday, May 24, 2009 at 22:55
Graham H (QLD)

Definitly the wrong agents - in Perth the house must be left in better condition than you found it - absalutly spotless including carpets cleaned and fully cleaned from the lightshades down

- if it isnt they will send someone in to do it and take it from the bond
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Follow Up By: fisho64 - Monday, May 25, 2009 at 03:23

Monday, May 25, 2009 at 03:23
I tend to disagree somewhat.
While an agent provides some peace of mind, it is really a false security.
Agents take NO responsibility whatsoever, you must sign a waiver. The fees are quite steep (at least in WA) and my own experience (and that of a friend recently) was of the agent waving that paper in our faces when pulled up on a quarterly inspection provided that had photos with a date from 6 months before on them and similar "discrepancies".
Inspections not done (but charged for) and cleaners provided and charged for at the same time as signing off new tenants comments of the place being "unclean".

This was from a National franchise Real Estate agent

Do it yourself if you want, but make sure someone will keep an eye on the place just driving past and dont tell tenants your plans.
The 8-12% fee will go a long way toward your travel for inspections.
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Follow Up By: fisho64 - Monday, May 25, 2009 at 03:25

Monday, May 25, 2009 at 03:25
forgot to add, the bond is worth s++t.
If a tenant thinks they are going to have a problem they just stop paying rent a month before the end.
You can only charge 4 weeks and it takes at least that long for an agent to even notice or get serious that its not paid.
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Reply By: Wayne's 60 - Sunday, May 24, 2009 at 21:13

Sunday, May 24, 2009 at 21:13
blueriderwa,

I agree with Daz and while it may be seen to be expensive there are a number of benefits to having a properly managed property. Search around through the local real estate agents, asking what their rate is and for customer references or ask around for people who have rentals and get their opinion.

10 to 15% is a small price to pay for piece of mind.

Just our opinion, though there is a good chance others will differ.

Cheers,
Wayne & Sally.
AnswerID: 366542

Follow Up By: blueriderwa - Sunday, May 24, 2009 at 21:17

Sunday, May 24, 2009 at 21:17
Thanks Wayne and Sally for your opinion but i am not looking for counselling i am simply trying to find somewhere where advertising my house might find me a tenant.
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FollowupID: 634267

Follow Up By: Member - Graham H (QLD) - Sunday, May 24, 2009 at 21:23

Sunday, May 24, 2009 at 21:23
Try Google then as thats what we would have to do to find your answers for you

All the advice given so far is good sound advice .

Hoewever if you choose to ignore it fine.

Its your house you can do what you want

Hope its still there when you come back
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Follow Up By: Wayne's 60 - Sunday, May 24, 2009 at 21:24

Sunday, May 24, 2009 at 21:24
blueriderwa,

Sorry for the counselling.......... just airing our opinion.

Where to advertise? ....... apart from your post ........ maybe in the trader section. You could also try some of the various Caravan forums.

Cheers,
Wayne & Sally.
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FollowupID: 634273

Reply By: Member - Mal and Di (SA) - Sunday, May 24, 2009 at 21:31

Sunday, May 24, 2009 at 21:31
For the last two winters we put our home in the hands of an agent and were very happy with the results.
However, a word of warning.
We insured using a Landlords Policy which is fine BUT this negates your normal household policy and in so doing you will find that your personal effects such as jewelry ,cameras. laptop etc which are covered under the household policy are now not covered. The first year we just did not realise this and got away with it but the second trip we tried without success to find a cover for these items so decided to "wing it". The only cover available is a travel insurance ( as in OS travel) and the cost was prohibitive. We did lose a camera along the way but got back with everything else.
AnswerID: 366547

Reply By: Shaker - Sunday, May 24, 2009 at 21:57

Sunday, May 24, 2009 at 21:57
You could always try the Forum page of ExplorOz.
AnswerID: 366550

Reply By: tim_c - Sunday, May 24, 2009 at 22:36

Sunday, May 24, 2009 at 22:36
Hi Bluerider, you could try realestate.com.au, they are nationwide but I don't know if they accept adverts from private people (ie. non-agents) like you & me.

Incidentally, I am currently renting out two properties with no managing agent, but I do have someone in my family in the next suburb who attends to maintenance, inspections, etc. - hope you have an agreeable family member/friend who can do the same for you.
AnswerID: 366554

Reply By: stevesub - Monday, May 25, 2009 at 07:43

Monday, May 25, 2009 at 07:43
USE AN AGENT and talk to your accountant about the tax implications. We have had rental properties for many many years and have been down the track of doing it ourselves, never again, an agent at 7.5% of the rent is good value.

Also the ATO will get very interested in you if they find out that you have taken $35,000 in cash rent in a year and have not told them.

BUT you have to get a good agent as there are some dodgy ones out there.

Tenancy law these days is tricky and in favour of tenants, especially if the deal is under the table, so my advice, do it properly with professionals to help - there are untold pitfalls taking shortcuts, too many to mention here.

Most of our income is from rents so we should know.

Stevesub
AnswerID: 366568

Follow Up By: tim_c - Tuesday, May 26, 2009 at 11:18

Tuesday, May 26, 2009 at 11:18
Yes, tenancy law often seems 'in favour of the tenants', primarily because bad landlords outnumber bad tenants by a significant margin (even taking into account the horror-tenant stories you'll hear).
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Reply By: Brian Purdue - Monday, May 25, 2009 at 08:40

Monday, May 25, 2009 at 08:40
Blue, For what it is worth, you could try "house sitters". No income but peace of mind. They provide a list of names and references from previous house-owners. They feed the chooks, cats, dogs look after the garden, etc and are there all the time.
No income means no tax to pay but against that no repairs either.
I have a friend who has been house sitting for the past 12 years. She has a round like a milkman. Same house, same time every year.
You can find them on the internet. By the way, the house sitter pays a fee and you get to meet them and make your own assessment.
Good luck.
Brian
AnswerID: 366573

Reply By: Brian Purdue - Monday, May 25, 2009 at 08:48

Monday, May 25, 2009 at 08:48
Woops forgot. $680 a week CASH? Pipedream, the taxman will find out. That much money for no return to renter? Maybe they could grow some "weed" to offset their outlay. Then the coppers would watch the property and after the renters go to prison the place will be vacant.
Pipedream Blue.
Brian
AnswerID: 366576

Reply By: Dan - Yal - Monday, May 25, 2009 at 09:06

Monday, May 25, 2009 at 09:06
Try advertising in Saturdays newspaper. I use it in WA and can always find good tennants. Should be just as effective in Qld. I tried realestate.com but its only available to real estate companies.

Good luck with it all and enjoy your travels

Dan
AnswerID: 366580

Reply By: Saharaman (aka Geepeem) - Monday, May 25, 2009 at 09:51

Monday, May 25, 2009 at 09:51
HI blueriderwa,
I am not here to give you counsel - thats your business what you do with your property.
But in order to find a tenant my suggestions are:
1. Try to do it by putting out feelers - rather than advertising publicly in The Courier mail or on line. This way you get a tenant recommended by someone else and can check out their credentials. For example:
2. Try the local banks in Samford village - they often rent executive homes for their managers. I have a friend who leases his fully furnished luxury home to one of the big 4 banks - the manager gets it as part of his salary package. Yours would be in the price range they consider.
3. Try local clubs (rotary, lions etc) - as these generally have reputable business people as members. It may be they have a member who is in need to rent for 12 months (eg maybe building a new home etc).
3. Try local church groups or any other community organistaions- they often have noticeboards they can put such info on.

It will take a few weeks for word of mouth to get around but you may be surprised at the results of such a simple marketing strategy. And the good news is doing it this way it is probably someone who is already living in the area and you can thus checkout their background more easily and even visit them in their current abode.
All the best,
Cheers
GPM
AnswerID: 366586

Reply By: sparrow - Monday, May 25, 2009 at 17:00

Monday, May 25, 2009 at 17:00
Try aussie house sitters.
Regards Bryan.
AnswerID: 366636

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