Rent Own House Out
Owning rental property can be a great way to make extra income each month, and is considered to be one of the smartest investment opportunities around. No matter what, renting out your property will result in increased profit for you, but some ways of leasing your property will result in you being able to take in a much larger profit.
How to Rent Your Own House
When it comes to finding new tenants and renting out your house or other piece of property, you basically have two different choices. The first (and most popular) option is to hire a property manager to take care of everything, including leasing, managing, and maintaining your home. The reason this is the most popular option is that it allows you to basically relax and wait for your monthly or weekly rental payments to start rolling in.
However, the one problem with this option is that a rental agent or property manager will typically take at least ten percent of your gross rental income as part of their fees. With the current economic climate, more and more people are making maximizing their income their main priority, which is why more owners are starting to avoid the rental agencies and their high fees and commissions, and instead choose to lease their property themselves.
Renting Out Your House Alone
If making the highest total profit from your rental is your primary concern, you definitely need to think about doing it yourself. The best way to lease your property is to list it on one of Australia’s most popular real estate portals. There are many different real estate websites that give you this option, but the best by far is For Sale For Lease. For Sale For Lease will charge you a set-up fee and monthly fees until your property is rented out, but in return your listing will be placed on all of the major real estate portals including domain.com.au, realestate.com.au, and property.com.au among many others. This will in turn ensure that your rental listing is seen by thousands of potential tenants every single day.
Still, before choosing to rent out your own property, you need to be aware of all of the time and effort that goes into the process. While For Sale For Lease will allow thousands of potential tenants to view your listing and will make finding the right tenant incredibly easy, you will then be left to do everything else yourself. This includes hiring a solicitor to draw up the rental contract, dealing with any issues the tenants may have, collecting rental payments, performing required inspections, scheduling any maintenance work that needs to be done, and all other aspects of the property including general upkeep. If you are willing to do the work, you will definitely make a much larger profit from your rental.
Using a Rental Agency
If convenience is your main priority, then hiring a property manager is probably your best bet. Still, not all rental agencies are equal. Therefore, if you are looking for a full service property management company at a reasonable price, look no further than For Sale For Lease. For Sale For Lease offers all of the services of a traditional rental agency, but at a much lower price. For a flat fee of only $600, you can hire For Sale For Lease to completely manage your property. No matter what method of rental you choose, you should strongly consider using For Sale For Lease for all of your rental needs.
The first step towards leasing your property is to create a property listing so that you can find potential tenants. Now you can either hire a rental agency to do everything for you and sit back and collect your rental payments, or you can do everything yourself and save yourself a ton by not having to pay the high commission and fees charged by property managers. Truth be told, renting out your own property is actually quite easy and will allow you to maximize your profit, and here’s how to do it.
Find Potential Tenants
The best way to find potential tenants for to lease your house is to create an online listing on a major real estate website such as For Sale For Lease. With sites such as this one, your rental listing will be seen on all of the major Australian real estate portals, and you will most likely start getting inquiries almost immediately after signing up. Now these sites aren’t free, but the listing fees are quite reasonable and this is the only way to really ensure your listing will be seen by thousands of potential tenants, so it’s well worth the money.
Draw Up The Agreement & Manage the Property
After you have chosen which tenants are the best, you’re ready to hire a solicitor to draw up the contracts and start collecting your lease payments. Of course, you will still be responsible for all other aspects of managing the home, from yearly required inspections to maintenance work and general upkeep. If you are willing and ready to do all of this work, then you will definitely be able to maximize your profit. Still, many people simply don’t have enough time for all of this work. If this is the case, then you should consider using an online rental agency like For Sale For Lease to completely manage the property for you. For a flat yearly fee of only $600, For Sale For Lease’s team of real estate professionals will take care of all aspects of the property for you in the same way as any other property manager, except at a much lower rate.
This means you’ll never have to have the hassle of dealing with tenants, while still maximising your rental income. With For Sale For Lease, you will know exactly how much you are paying, as they never charge any commission or extra fees such as for property inspections. Overall, no matter which option you choose, renting out your house online using For Sale For Lease is definitely the best way to go. No other option will give you so many benefits for such a low price. So if you are serious and want to rent your property quickly and easily, why not try sign up today and see just how much extra rental income you can make.