Real Estate & Managing Rental Property SA
Everything you need to know about the SA real estate market - how to start a lease, lodge a rental bond, price a SA property
Everything you need to know about the SA real estate market - how to start a lease, lodge a rental bond, price a SA property
Many property owners prefer to cut out the real estate agent (and their fees) and simply self-manage their property themselves. Renting out your own property is certainly not rocket science, and can be an extremely rewarding experience (both financially and personally) but it is worthwhile getting the basics right so that you and your tenant are set-up for success.
This article aims to provide readers with a quick reference guide on where to go and what to do when starting out.
When preparing to rent out your own property, it is important to familiarise yourself with similar rental properties in your area. SA is a large geographic area and the property market can seem complex, so we have compiled a summary of 'Fast Facts' that will help you understand the rental landscape.
There were 1,676,653 people in SA as at the last census date in 2016, and here are the key figures to know:
Most State government have rules about when a landlord can increase the rent on their investment property. The restrictions only apply where there is an existing tenant in the property, so if you are looking to sign on a new tenant you can just change the asking rent when you advertise.
Consumer and Business Services
Starting a lease typically consists of 4 key elements, which have slightly different names depending on which state you are operating in, but ultimately have a similar intent and outcome. The ‘big 4’ are;Starting a lease typically consists of 4 key elements:
Consumer and Business Services – Phone 13 18 82
More information on lodging bonds in SA: All bonds in South Australia are managed online. Landlords must lodge a bond within 2 weeks of receiving it.
You can register for Residential Bonds Online (RBO) here. You will need to create a username and password. Don’t forget to record these so you can login to manage your bond at any time.
You will need to enter the PIN sent to your mobile to verify your account and register as a ‘landlord’.
The tenant will receive a link to verify the bond lodgement. You will need to collect payment from the tenant then transfer the money via Direct Debit to the RBO. The owner should record the receipt number in case they need to manage the bond in future.Alternatively, you can download a lodgement form and send it through post.
Of course, at RentBetter.com.au our aim is to make this a seamless, frictionless experience for you and your tenant by including the necessary documents and compliance into our process – you can click here to sign-up and get started.
RentBetter is designed to help you find and manage tenants using the RentBetter Platform. Our customers use RentBetter to advertise their property on the major property portals (Realestate.com.au and Domain.com.au), and our platform can help with enquiries, applications, tenant checks and lease documents to assist you in finding a high-quality tenant for your property.
The RentBetter platform can also help to onboard your tenant to your lease, and automate the process of rent collection, tracking, receipts, maintenance, and reporting.
Learn how the RentBetter platform can help you self-manage your rental property. Register below to watch the demo video.