Saves money<\/span><\/p>\n<\/div>\n<\/div>\nListing a rental privately can save owners thousands of dollars in fees every year, Hassan says. That\u2019s because letting agents can take anywhere between 5-12 per cent of the weekly rent.<\/p>\n
\u201cSo leasing privately means the percentage of weekly income that would otherwise go towards management fees ends up in your own pocket instead,\u201d she says.<\/p>\n
Be across issues<\/h3>\n
Hassan says private landlords can also closely monitor how their property is being maintained and keep across any issues or problems as they arise, rather than waiting to learn about them from the agent.<\/p>\n
Hand-pick tenants<\/h3>\n
In the private rental<\/strong> market, owners have the ability to screen potential renters themselves, rather than rely on someone else\u2019s judgement. \u201cThis allows you to handpick the most suitable candidates based on your personal preferences,\u201d Hassan says.<\/p>\nDownsides of a private rental<\/h2>\n
Managing a property requires a lot of work and carries serious legal responsibilities, so there\u2019s some potential negatives to consider as well.<\/p>\n
It\u2019s personal<\/h3>\n
Having to negotiate issues like lease agreements, rental increases or evictions can be uncomfortable for private landlords, especially if you\u2019ve developed a relationship with your tenants, Hassan says. This is very much an issue in tough economic times like right now.<\/p>\n
Property managers can remain professionally detached and execute decisions without having an emotional involvement.<\/p>\n
Complexities<\/h3>\n
Tenancy legislation, which differs from state to state, is full of complexities and private landlords can run afoul of the law without realising it, Hassan says.<\/p>\n
A property managers will generally have a better understanding of rental laws and any recent changes to legislation which might affect their landlords or tenants.<\/p>\n
How to list a private rental<\/h2>\n
Historically, private landlords have been restricted in where they can advertise their properties, relying mainly on social media, word-of-mouth and online selling platforms such as Gumtree.<\/p>\n
But realestate.com.au now allows private landlords to advertise their properties on its site, which has more than 19.7 million visits a month.<\/p>\n
Owners can pay $220 (including GST) for a standard ad, which runs until a tenant is found.<\/p>\n
Owners can create, edit and save listings, so it\u2019s easy to re-list later and also receive tenant enquiries by email, phone or SMS.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
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<\/p>\n