When you are renting out your property there are a few different routes you can go down. You can go with an agent, you can self-manage, and you can go with something like Cubbi, online. Choosing which option you are going to go for depends on your investment goals and the time you want to spend on your rental.
Taking on an agent to manage your property can involve some risks. It is no longer as simple as letting them do their job. Your property is your number one priority in your mind but not your agents. More often than not your property will just be added to the five-page list of properties that this one agent manages. Agents are a great way to manage your property if your investment strategy won't take a hit from cost control but can be cumbersome if you run it on a calculated budget.
Let's take a look from Kate's perspective, a previously agent managed landlord to now being with Cubbi.
Imagine handing over all your responsibility for your property to an agent. Your expectations are that they will look after property and find a great tenant that will love the house, look after the house and call the house their home. That is exactly what Kate expected. That is what Kate was paying for. Kates story has previously been published in a separate blog post. There was a family extremely interested in Kates property because it had great accessibility which they needed for their son who has a disability. They had been searching everywhere desperately for a home where he would feel comfortable and accommodated so when they called the agent and were met with a voicemail multiple times they were upset and even more stressed that they had to search for another home because the property had now been rented to someone else.
If your agent has dropped the ball in this department what other places are they are they letting go. For Kate, this experience undermined their whole experience, making Kate question the trust towards agents as a whole.
As a result, choosing an agent means researching to find the right agent for your property is absolutely crucial. You also may have to go through a few different agents to find a good one.
On the other end of the spectrum is DIY. If you don’t know all your laws when it comes to renting then you will be doing a lot of research but on the other hand, if you know all the ins and outs of the renting process and have quite a bit of time on your hands then this option might be perfect for you.
Going with an online management solution like Cubbi is different. Being the new breed of ways to managing your property, any online solution will be more focused to specific needs, so make sure you select one that fits you. These guys are usually in the game of changing the renting game so their focus lies purely in maximising your value and making you and hopefully the tenant as happy as possible. Makes sure to get to know the offering and let them get to know and you'll most likely have a wholesome experience.
If you are interested to know more about how Cubbi works and whether it could be a fit. Email us on firstname.lastname@example.org