Help with 1st self managed property

Discussion in 'Property Management' started by weejimmy, 7th Apr, 2017.

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  1. Sasim

    Sasim Well-Known Member

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    11th Aug, 2015
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    Perth
    Cheers Legallyblonde and glad you are issue free. I feel I have a lot of luck and a lot of the right selection and choices at the start of tenancy. Of course you never know.

    The other thing I focus on in the selection process is setting up of direct debit payments.

    Please send some of that strong rental market mojo our way ;)
     
    legallyblonde likes this.
  2. chibs

    chibs Well-Known Member

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    16th Jul, 2015
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    Location:
    WA
    Great advice by Sasim. We too self manage for the same reason outlined by Sasim.

    Following the guidelines set out by Dept of Commerce is important, it is there to protect both landlords and tenants. If you have any questions, you can call them up for advice, they are more than helpful. Also make sure you are covered by landlord insurance.
     
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  3. legallyblonde

    legallyblonde Well-Known Member

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    TAS
    With my two places I have the original tenants that I sourced on gumtree. Both are perfect! I never hear from them, they just pop we a text with any concerns ect. I pretend that I have a sixth sense for dodgy tenants... but I probably just have amazing luck.

    My senior tenants have indicated that they are never leaving and the young couple have previously applied for other properties and were only renewing six monthly. However, I have kept the rent low for them and they are just signing a 12 month lease ATM.

    Amazing tenants can be hard to come by... I am keeping the rent low because the house is immaculately looked after, rent is always in time, next to no effort needed. .. that extra 30 bucks rent I could me making is so not worth the hassle of finding new tenants! After all... after tax it is less than 20 bucks a week...
     
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  4. Perthguy

    Perthguy Well-Known Member

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    You don't live in Perth. It is very difficult to get a decent property manager here. I have managed my own properties here for over 10 years with no major dramas. Conversely, people with property managers here have regular dramas. I just finished my mate at work through the process of a useless PM stuffing up one of his rentals. The place got trashed but the PM couldn't figure out what paperwork to serve and in what order so the tenant got an extra 3 months rent free while they continued to damage the property. Nightmare. This is a big Perth agency too, not some fly by nighter.
     
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  5. WestOz

    WestOz Well-Known Member

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    Maybe all us WA LL's should entice @Xenia & @D.T. to move over here and look after us, guaranteeing all our properties at Perth rates to kick them off, one of them covering Nth of the river, the other covering Sth. ;)
     
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  6. D.T.

    D.T. Specialist Property Manager Business Member

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    Adelaide and Gold Coast
    Its in the works mate. Just have to allow for things to settle down here first as growth has been phenomenal and cant let premium service level slip.
     
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  7. Xenia

    Xenia Well-Known Member

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    You are unbelievably awesome - thank you.
    Always here to help with information.
     
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  8. weejimmy

    weejimmy Well-Known Member

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    19th Jun, 2015
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    Location:
    Perth
    Can't believe what a great response you guys have had.
    Thank you all so much.
    I'm going to do a bit more research on the finer details for now.
    We are quite happy treating as a business as that's exactly what we have been doing with air BnB .
    I think we will stick with self managed for now as its only the one and between us both we have a fair amount of time to dedicate to it.
    Great post sasim.
     
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  9. weejimmy

    weejimmy Well-Known Member

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    They are professional pics. mayb it's the format or Something
     
  10. Sasim

    Sasim Well-Known Member

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    11th Aug, 2015
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    Perth
    Hei Weejimmy,

    If you wish to PM me happy to have a wee look the photos for you:)
     
  11. weejimmy

    weejimmy Well-Known Member

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    Perth
    Theres a link to the AirBnB advert in the thread. you can see the pics there.
    i can use the advice for the pics to put on the rental advert.
     
  12. PeterV

    PeterV New Member

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    23rd Mar, 2017
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    Location:
    Adelaide

    I have always managed my own properties from day one. I find meeting the prospective tenants a real benefit. You can get a good feel for people when talking to them. I always have a short application form for them to fill in. Never had a bad tenant and we have 3 rentals. All our tenants love us as landlords and have all been with us for years. I have found the book keeping a bit harder to manage but recently found an online system that has been great. Simple to use and I can access it anywhere (www.squirehub.net). I say go for it. Many forms and ifo can be obtained from your states authority. Check online for W.A
     
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  13. weejimmy

    weejimmy Well-Known Member

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    Perth
    Dose anyone have a good screening questionare to get the tenants to fill out?
    or know anywhere i can download one?
     
  14. PeterV

    PeterV New Member

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    23rd Mar, 2017
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    Location:
    Adelaide
    Weejimmy, I usually just ask the questions that interest me. Like proposed term (long or short), number of occupants, proposed pets and usually the good applicants I find are organised and have references already for you. I don't feel there is a one size fits all questionare. I also like to meet and talk to them to get a gut feel about what they are like. Speaking directly has been the the best in my opinion. I have had people on paper look good but when I meet them, they came across push and controlling. They didn't rent with me.
     
    Perthguy likes this.

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