There are many ways to find rental properties in Sydney, including going through agencies to help you in your search. Private landlords, however, are also constantly looking for tenants. These individuals own and manage the properties themselves, without resorting to hiring a management company, rental agent or other middlemen to handle the details.
Deciding to seek out a private landlord has a lot of up-side, and even has the potential to save you money. You may find communication and maintenance get handled quicker as well when you deal directly with a person instead of a third-party.
If you’re seriously considering seeking out private landlords for renting in Sydney, you’ll be happy to know there are many benefits to you as a tenant.
Here are just a few:
When you rent directly from a landlord, you have direct contact with them from start to finish. Tenants who get to meet their landlord from day one will immediately have a good sense as to if they are the type of person they can have a good relationship with. Communication ends up being straightforward. Issues often get handled much quicker when you can speak directly to the person you are renting from.
Since you are speaking directly to the landlord from the beginning, and throughout your tenancy, there’s less likelihood of misunderstanding. When you are dealing with a rental agent, messages travel through a third party that can misinterpret information or gets facts wrong. This could end up impacting the relationship you have with your landlord or your relative happiness with the property itself.
Avoidance of Admin Fees
Rental agents tend to levy large fees on both landlords and tenants. Private landlords, however, can decide what fees they charge, if any. They have a vested interest in keeping fees low to remain competitive with letting agents. Therefore, in almost every case, you’re likely to save a significant amount of money on admin fees when you rent privately in Sydney.
Landlords that bypass rental agents also avoid handing over a significant percentage of rental income. Rental agents often charge anywhere from 5-14% on the rental income. Private landlords, however, avoid this cost and can offer rent at a slightly lower price, a serious advantage for tenants.
Less Likelihood of Credit Checks
While rental agents will typically run a credit check, private landlords may just perform a reference check on a potential tenant. This means if you do happen to have bad credit, but you can prove to your landlord you can cover the cost of rent, you can probably forgo a proper credit check.
Flexible Deposit Terms
Rental agents have strict policies surrounding deposit amounts and when they need to be paid. Private landlords, on the other hand, are often more flexible when they believe you are the right tenant. Discuss deposit amounts and arrangements upfront. They may be willing to compromise if it means getting their ideal tenant to sign a rental agreement.
Once you’ve committed to seeking out a private rental, you’ll need to know where to look. Most will advertise their properties on social media, local papers, or online classifieds like Gumtree. A simple Facebook search for “private rentals in…” may help you find properties available near you.
Whether you’ve been renting for a while or looking for your first rental opportunity in Sydney, consider looking for properties with private landlords. Not only will you be able to more easily communicate with the actual property owner, but you’ll also be dealing with someone who’s more flexible and less likely to overcharge on rent and fees.
Looking to rent your next home privately? Click the link below to see how Instarent can help you!