VIC Alternative ways of renting a house - Non Agent

Discussion in 'Property Management' started by Chotu, 2nd Mar, 2020.

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  1. Chotu

    Chotu Well-Known Member

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    Hi

    Can someone please share if you are aware of an effective way of renting out a house without involving an agent? My agent is being lazy and has not been able to rent out the property for over a month now.
     
  2. Chotu

    Chotu Well-Known Member

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    FYI, 4 bedroom house in Point Cook
     
  3. wylie

    wylie Moderator Staff Member

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    You can do it yourself, or change agents for one that is better.

    @Lil Skater
     
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  4. Chotu

    Chotu Well-Known Member

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    What are the best places to advertise for DIY ?
     
  5. Scott No Mates

    Scott No Mates Well-Known Member

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    Does the agent have a magic wand?

    • Is the property available/vacant?
    • Is the property advertised? At an appropriate amount?
    • In an appropriate condition?
    • What is the competition at present/how many vacancies?
     
  6. Mark F

    Mark F Well-Known Member

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    What reason(s) does the agent give for failing to rent it? Asking too much rent, onerous conditions in lease, better properties available (quality, cost, location)?
     
  7. Scott No Mates

    Scott No Mates Well-Known Member

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    The same places that your agent is advertising - domain & realestate.com.au

    You may still be liable for commission to the agent if you haven't terminated the agreement.
     
  8. Lil Skater

    Lil Skater Well-Known Member

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    @Chotu I don’t look after Point Cook (but thank you @wylie )

    Definitely recommend another agency if you’re unsure on the processes and procedures, more than happy for you to PM me the ad and I can take a look to give some tips.

    Alternatively if you are set on DIY I would recommend you look into some of the free sites like Homely and rent.com.au - from memory they accept private listings. Experience with Gumtree is quite poor, but it is effective usually. Otherwise there’s a number of sites where private landlords can list on REA/Domain for a small fee - there’s Myproperty, Minus The Agent... literally dozens of sites that will push to the big websites.
     
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  9. Mumbai

    Mumbai Well-Known Member

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    This!
    Before pointing fingers at the agent (not defending, just a POV) make sure you have covered the above.

    Also, agent does more than just renting your place. You will need to know the tenancy laws before you plan to manage your property.
     
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  10. Mel Morgan

    Mel Morgan Sydney Property Manager Business Member

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    Ask your agent WHY your property isn't renting out, if its because they haven't had any opens or listed it, then replacing the agent is probably the logical step, instead of advertising the property yourself, because how will you know if they are a good tenant, and ensure you have the correct paperwork signed up as well as compliance in place?
     
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  11. Megan-Werribee

    Megan-Werribee Member

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    I manage in Point Cook and surrounds and if the property is priced right, being advertised correctly and the agent is conducting opens there should be no reason why it shouldn’t have been leased. However, there are a lot of property’s available at the moment in PC. It really always comes back to price.
     
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  12. Chotu

    Chotu Well-Known Member

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    Thanks Megan, the agent started off really overpricing it hence wasted 2 weeks there. I asked the rent to be dropped to what i think is fair market value (430 a week for a 4 bedroom house, 668m2 block, ducted heating, cooling, solar panels, security camera/alarm etc), but it's been another 4 weeks and he has still not been able to rent it. The online ad is a little strange, it says in bold letters *** YOU MUST REGISTER TO INSPECT THIS PROPERTY *** 2 or three times. I thought that might put people off a bit.

    What is the average time to rent a fairly priced property in this market in your experience? I'm just starting to run out of patience
     
  13. PurpleTurtle

    PurpleTurtle Well-Known Member

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    $430 may well be fair, but it looks like there's a lot of competition at that prince point so you may need to think about how yours is meant to stand out against all the others.
     

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