Managing an investment property generally means finding tenants, gathering rent and arranging maintenance and repairs. You can save yourself a bit of money if you do this yourself, or you can save a bit of time and have an agent do it for you.
If you decide to appoint an agent expect to pay around 5% of the rental income you get from the property. The upside is, once you have signed, there's little more for you to do. An agent will:
Plus, an agent should know the system inside out – so you don't have to do a crash course in tenancy laws and requirements.
Depending on what you decide, either you or the agent will have to:
Either you or the agent may also have to:
Whether you're doing-it-yourself or with the help of an agent, take the opportunity to inspect your property regularly. A visit can reveal any potential tenancy or maintenance issues.
Aussie does not provide any financial or investment advice. This document has been prepared as a factual guide only. It does not take account of your objectives, financial situation or needs. Aussie recommends that you seek independent financial advice and obtain your own professional legal and taxation advice before making an investment decision.