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  1. #11
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    Default Re: Becoming a landlord

    You never know. We rent and take care of a house as if it were our own.

    Just choose ur tenant very carefully

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  2. #12
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    Default Becoming a landlord

    Quote Originally Posted by Littlemissellie View Post
    You never know. We rent and take care of a house as if it were our own.

    Just choose ur tenant very carefully

    Sent from my GT-I9100T using BubHub
    This.

    We are very house proud. We always keep the place tidy and yards maintained. However we have struggled previously because we are young (24 and 27) and have 4 children aged between 3 months and 15 years). A lot people won't give us a chance because they see we have a few kids and think we will trash the place (an agent actually told me that!) which is not the case at all!

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    SoThisIsLove  (17-11-2012)

  4. #13
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    Like others have said LANDLORD INSURANCE!
    Get a few agents out. Ask people you know for their opinions on agents. When the pm comes out treat it like an interview. They will be 'you' while you're gone.
    I agree about getting a gardener. Peace of mind. Don't immediately rule someone out if they have pets though. Some of my best tenants had pets and the properties would be in better condition when they left.
    When it comes to choosing the tenants you get the final say. The pm will narrow down applications for you and present them to you.
    If you can have your neighbour keep an eye out too that's great. Just make sure its not over done as the house is the tenants home while they are there and they have a right to feel comfortable. Of course damage and the like should be reported immediately.
    Good luck. I hope you find a great pm and end up with really good tenants.

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    Tazzy  (19-11-2012)

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    Default Becoming a landlord

    I agree with interviewing a few agents, I'm a PM too. Ask how long they have been in the job etc, no offence to new PM's but it does take a couple of years to have a good understanding of the job, you need to click with them too I think. I hateeeee renting out an owners former home, the responsibility can be nerve racking. But I know if I find the exact perfect tenants they will do my job for me, be prepared to knock back any applicant till you think you have the perfect one for your home good luck!

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    dancingchipmunk  (17-11-2012)

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    The other thing to consider is the tax ramifications of renting your house out. Make sure you speak to your accountant about what it means. An investment property is very different for tax purposes than your own home. There are things you can claim like depreciation on current contents (including oven, carpets, etc I think) and there are definitely capital gains tax implications that you should be aware of.

  9. #16
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    Default Re: Becoming a landlord

    Quote Originally Posted by Littlemissellie View Post
    You never know. We rent and take care of a house as if it were our own.

    Just choose ur tenant very carefully

    Sent from my GT-I9100T using BubHub
    The problem is, even if you're immaculate, chances are you look after the house differently to what the owners do. It might be better, it might be worse, regardless it will be different, and that's what makes it so hard to move back into a family home that has been rented.

    I had a landlord once who had really bad chemical allergies, she went to a lot of trouble to keep her home chemical free. She then got a transfer to NZ for work so she rented her home out. It took me months to make her realise that she couldn't stop the tenants from using chemicals. They kept it cleaner then she ever did, but they used chemicals, so it ruined the house for her.

    Quote Originally Posted by dancingchipmunk View Post
    Get a few agents out. Ask people you know for their opinions on agents. When the pm comes out treat it like an interview. They will be 'you' while you're gone.
    If you can have your neighbour keep an eye out too that's great. Just make sure its not over done as the house is the tenants home while they are there and they have a right to feel comfortable.
    I agree with both these points (the others too, but mainly these two)

    It will be hard enough to like your agent when all they seem to do is call you with problems. You need to like them and trust them when you sign onto their services.

    Quote Originally Posted by Mokeybear View Post
    I agree with interviewing a few agents, I'm a PM too. Ask how long they have been in the job etc, no offence to new PM's but it does take a couple of years to have a good understanding of the job, you need to click with them too I think. I hateeeee renting out an owners former home, the responsibility can be nerve racking. But I know if I find the exact perfect tenants they will do my job for me, be prepared to knock back any applicant till you think you have the perfect one for your home good luck!
    This!

    I think Terry Scheer is worth looking into for landlord insurance. Avoid NRMA, they're really expensive and don't cover much. Any insurance company that specialises in landlord insurance will be worth looking into. Your PM won't be able to advise you on who to go with, but they should be able to provide some brochures on who they deal with alot.

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  10. #17
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    Quote Originally Posted by Disbride View Post
    Your PM won't be able to advise you on who to go with, but they should be able to provide some brochures on who they deal with alot.

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    Good point. I forgot to mention that. I do remember quiet a few of my landlords going through Terry Scheer (sp?) and they were happy with it.

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    Default Becoming a landlord

    Thank you every one for your advise it has helped so much. I had a real estate agent come out this morning for a chat, she was lovely. She's from a local family owned real estate company so I think I'll go with them. I'm feeling much more at ease about the whole thing now


 

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