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  1. #1
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    Default Real estate advice

    I am about to rent out my house and need to list it with an agent. Anyone have any advice on what to look for when listing a property for rent with an agency?

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    Default Real estate advice

    Hi,

    My thoughts:

    1. Look up some rentals on the Internet and ring up an enquire about them. It's a good chance to see how they treat tenants from the get go. If you have to leave a message, how they respond is a good indicator as well.

    2. Do you know any people renting in the area? Feedback on how they are treated and how maintenance and repairs are treated is invaluable.

    3. Look at the the real estate body in your state eg. Reiq and download and read a standard tenancy agreement and management agreement. Some agents put dodgy clauses in each, make sure you know where you stand for anything you sign and any paperwork put to your tenants on your behalf.

    Other than that, interview a couple of agencies and see what they offer in terms of service and what rates they charge for management. The cheapest isn't necessarily the best.

    Good luck!


    Edited to fix autocorrect
    Last edited by Deskar; 27-04-2016 at 17:56.

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    GrabbyCrabby  (29-04-2016)

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    Organise 2 or 3 to come and give you a proposal and interview them - recommendations or referrals are best so if you know anyone with an investment property ask if they recommend their agent , a few questions to ask:

    - who will be the actual person looking after the management ( check their experience and how long they have been with the company )
    - ask for their arrears policy ( when and how they chase the rent)
    - ask for their inspection policy ( how often , types of reports, photos etc)
    - marketing ( professional photos, email , brochures, websites, sign)
    - how often they do rent reviews
    - availability for emergency repairs and after hours emergencies
    - do they do end of financial year reports , pay outgoings, extra charges for tribunal hearings

    I believe good agents are worth a good fee and be wary of cheap agents!

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    bel2466  (27-04-2016),Mokeybear  (27-04-2016)

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    Not an agents advice but from a person whose had issues with agents/tenant please ensure you have adequate insurance to cover you if tenants end up being "less than perfect".

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    I agree with Elijah's Mum - I used to be a property manager for 5 years and couldn't have said it better myself!

    Just ensure that you get Landlord Insurance!! The amount of people I've worked with who said no to it and ended up having the tenants from hell who trashed their home, ugh!

    Good luck with it all!

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    Thank you all for your advice and tips.So I've had 3 agents come through. The first is very popular for sales in my area, they aren't a huge agency and the only fees they have is the letting fee and the weekly management fee. The second agent I wasn't that keen on and the third is a fairly big agency who seemed quite good but their fees are big.. So confused !!!

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    Quote Originally Posted by Angels4me View Post
    Thank you all for your advice and tips.So I've had 3 agents come through. The first is very popular for sales in my area, they aren't a huge agency and the only fees they have is the letting fee and the weekly management fee. The second agent I wasn't that keen on and the third is a fairly big agency who seemed quite good but their fees are big.. So confused !!!
    Go with who you felt more comfortable with, the standard agency agreement has a clause saying you can give a certain amount of time ( usually 30 days) to cancel the management and give it to another agent so don't be afraid to do that if the agent does not keep all their promises in the first 6 months of the tenancy

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    Quote Originally Posted by Elijahs Mum View Post
    Go with who you felt more comfortable with, the standard agency agreement has a clause saying you can give a certain amount of time ( usually 30 days) to cancel the management and give it to another agent so don't be afraid to do that if the agent does not keep all their promises in the first 6 months of the tenancy
    I really liked an agent but her fees were 12%!!!


 

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