Saturday, August 30, 2014

Rent Without An Agent

If you engage a real estate agent to look after your property rental, the costs can be rather high compared with the service actually received.  Typically, the cost is a weeks rent to find a tenant, plus GST, and then 8.8% to collect the rent and do the ongoing management.  On rent of $550 a week, assuming that you have a tenant change once a year, the cost is over $3,000 a year.

If you live near your rental property, and don't mind learning how to legally comply with rental laws (the RTA website has good information), then Rent My Estate is a good service for landlords.  It helps manage the advertising process, and is expanding into other programs for landlords (such as recording rents received).  Readers of this blog will receive a $20 discount via this link shared by a reader - thanks John.  The savings year on year could be substantial, if you are prepared to put in the time yourself to do things properly.  There is also a good blog on that site.

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