A Guide to Managing Your Own Property
This guide provides a robust framework to help you self-manage your property like a pro!
Disruption is occurring in the world of Property Management, and it is driven by Technology and Changing Behaviour.
This guide provides a robust framework to help you self-manage your property like a pro!
Self-Managing an Investment Property - An Overview.
This guide is for landlords, entrepreneurs, property moguls, first time buyers, those who own one property or one hundred. If finding tenants, managing rental income and your investment is important to you, then you should read this guide. If cash flow and investment returns matter to you, then RentBetter should matter to you.
Those who understand how to find tenants and manage their own property without using an agent will be able to deliver a better rental experience, feel more in control and ultimately will be able to to maximise the return on their investment property. The purpose of this guide is to provide a robust framework for thinking about it and doing it.
You can download a copy of the eBook guide here.
What is Included in the Guide to Self-Managing a Property?
There are 10 chapters and each chapter is set-up and written as a standalone mini-guide that can be read in isolation, but to get the most of the guide it would make sense to read it all the way through at least once, and then return to it as a reference resource when needed.
Chapter 1. What does it mean to rent out your own property?
Chapter 2. The Process of renting out your own property
Chapter 3. The Profile of someone who rents out their own property
Chapter 4. Setting up your ads - Where and what to advertise?
Chapter 5. Inspections, Applications and the Selection Process
Chapter 6. Commencing Your Lease the Right Way
Chapter 7. Onboarding Your Tenant with a Rental Schedule
Chapter 8. Management, Maintenance, Money and Other Hints
Chapter 9. But what if my Tenants don't pay?
Chapter 10. Manage Your Property with RentBetter
What Does it Mean to Rent Out Your Own Property?
Renting out a property is so misunderstood (sometimes even by professionals in the industry) that there is a desperate need for this chapter. Outside of real estate there are few professions that cause people to have such a violent reaction!
This chapter will clearly define what renting out your property really means.
What is the Process of Renting Out Your Own Property?
Before we dive into the specific tactics and tools at your disposal, it might be helpful to first talk about the process of renting out your property. There are definite steps that you can follow, either consciously or subconsciously.
This chapter will outline the six fundamental steps in the process of renting out your property.
What is the Profile of Someone Who Rents Out Their Own Property?
As this new world of renting out your own property comes to prominence, those who are interested in embarking on this journey will wonder if they have what it takes. As with anything, you get out what you put in and certain kinds of individuals will flourish more than others.
This chapter debunks myths about who can and can’t rent out their own property.
How Do You Set Up Your Ads - Where and What to Advertise?
Advertising your property is essentially creating a funnel and a way to guide prospective tenants to your property. The goal is get exposure where people are searching, and then to generate interest.
The problem is that this often gets overcomplicated. This chapter will help you understand where and how to advertise.
How to Run Inspections, Applications and the Selection Process?
As much as we’d all love prospective tenants to just sign on the dotted line, there are very good reasons for both owners and tenants to go through a thorough process of vetting one another before entering into an agreement.
This chapter will outline how to run inspections, collect applications and ultimately select the right tenants for your property.
How to Onboard Your Tenant with a Rental Schedule?
Yes, it is as simple as creating a payments schedule and ensuring the tenant pays on time. But ‘what gets measured gets managed’ and if you don’t manage payments you could find yourself in hot water if something goes wrong.
This chapter will help you set-up a transparent payment schedule for you and your tenant.
How to Manage Maintenance, Money and Other Hints
It may seem daunting at first, but one of the most exciting parts of renting out your own property is the ability to control expenses and ultimately the return on your investment.
There are a number of other items like insurance, depreciation schedules and tax to consider. This chapter will help you navigate this the first time.
What if My Tenants Don't Pay Their Rent?
Perhaps the greatest fear of any property owner, is what to do in the event a tenant stops paying. Industry professionals use this as a way to generate fear in landlords who will hopefully hand over the keys to them to take over.
Have no fear, there are processes and procedures for how to deal with this situation and this chapter will direct you to the right place for guidance.
How do I Manage My Own Property with RentBetter?
We should probably be a bit more subtle than this, but considering this is chapter 10, we figured by the time you get here we have earned the right to plug our business and what we can do to help.
This chapter will outline the RentBetter way.
Practice Makes Perfect.
Managing is a skill that will improve over time, but the only way to improve, is to practice. Reading this guide is one thing, and we hope we have pointed you in the right direction. However, you will find that using RentBetter to support you through the process will be a really positive experience!
Some people may say ‘managing your own property is just some crazy hype from tech companies that will go away’. Well to those people we say look at the many examples where doing it yourself has taken over – from the taxi industry to hotels, travel, media and selling personal objects – in all these industries the do it yourself model has changed the way things work in an irreversible way.
Next Steps:
We’re proud to be helping thousands of landlords across the country manage their properties. If you want total control, transparent pricing and the ability to manage your property like a pro with our technology, then sign up for free today.
If you choose our all-inclusive management plan you’ll get everything you need to manage your own property right at your fingertips…We call it ‘The RentBetter Way’ and we’re confident you’ll love it!
If you’d like more information, our friendly team are on hand to assist. Just email us at info@rentbetter.com.au and we’ll get back to you or organise a call to chat.
