Renting My Property whilst I’m on the Road

To help with my mortgage, whilst away, I have decided to rent out my flat.  I am nervous about the prospect, but it should cover  at least 50% of my loan so I would be a fool not to.  That would certainly give me a lot more spending money in Nepal!!!

Tuesday, I got off my back side and phoned an agency.  Has  a property manager was coming first thing, this morning I was up at a godly hour cleaning my bathroom.  What with airbnb (no potential lodgers yet!!!) and now this, my flat has never looked so tidy.

I have little experience of being a landlord, so this is new territory for me.  Until 2 years ago, I have always been in the renters shoes, so I didn’t quite know what to expect.  First impressions, she seemed very nice.  A typical estate agent.  I made her take her shoes off, so not to damage my wooden floor with her stilettos. 

She did not think it would be a problem renting it for only 4 months.  A lot of overseas visitors look for a short term let, so that sounds promising.

I am planning on renting my flat furnished.  That would mean a lot less hassle, since if I had to place everything in storage that would have been a complete mare.  I just need to pack away my personal belongs, bed linen and anything I couldn’t bare to lose.  The agency will provide an inventory of all remaining items, so if the tenant does go on the rampage they will be held accountable.

I will need to cancel Electric and Gas just before I leave, so if the tenant decides to live in desert like conditions I have not got to stump the bill. 

I have a few things I need to fix around the house, so that the tenant won’t annoy her.  Not sure why a temperamental washing machine can’t be seen as a quirky feature.

It was short and sweet meeting, but it all sounded good.

Tonight I had a quick flick through the literature:

  • Letting Fees – 1 week’s rents
  • Management Fee – 7% of rent collected
  • Lease preparation fee – $20 AUD
  • Admin charges – $5 per month
  • Advertising – $75
  • Plus 10% GST (Good Services Tax – for any non Aussies)

Hmmmm, certainly a lot of fees.  This morning I was happy to go with Miss Stilettos but I might check one more agency to see if they are competitive.  However, for me it is more important I get a good agency, that will choose good tenants, than save a few pennies. When I am TEFLing in Nepal – I DO NOT want to be stressing over my little flat.

Well that’s it for tonight, night night

The Wanderer x

4 thoughts on “Renting My Property whilst I’m on the Road

  1. Enjoyed the section of Renting out your property as I am intending to do something similar with my flat. Great to see the detailed costs hope Miss Stilettos works out for you.

  2. I think a temperamental washing machine can be a quirky feature. Add a couple of goldfish and some plants (water plants rather than pot plants preferably!) and it makes a unique and interesting fish tank. Don’t forget to warn the tenants not to put it on fast spin cycle as goldfish vomit when span at over 1000 rpm.

    Interesting blog!

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