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How do we safeguard our rental deposit?


Guest slmurphy1

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Guest slmurphy1

Hi All,

Just in the process of looking at private rentals - we're going to try to get a 6month to 1 year let near Canning Vale without being able to view first so looking at private landlords on gumtree.

 

I get that this is a risk for landlords and so was planning on offering 3 months rental up front plus the bond, however the LL will want this money up front to reserve the house, and how do we safeguard ourselves against them disappearing with our money!

 

Any hints would be greatly received!

Sally

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I would recommend that you don't use anyone private as you have no way of securing your money, have you looked at realestate.com.au?! They are all run through estate agents you would definitely not get ripped off they are usually really helpful.

 

Hope this helps.

 

Fiona

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I would recommend that you don't use anyone private as you have no way of securing your money, have you looked at realestate.com.au?! They are all run through estate agents you would definitely not get ripped off they are usually really helpful.

 

Hope this helps.

 

Fiona

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  • 2 months later...
Guest firedart

I have a couple of rental properties that are leased out privately as I prefer to keep an eye on the property myself instead of putting them in the hands of a real estate agent who charge huge commissions for not looking after the properties to the standard that I do. I also know other people who like to run their own leases themselves.

When a new lease is signed the landlord will give a receipt for the bond (which is not more than equal to 4 weeks rent) and will lodge this with the government run and regulated bond authority.

As with any rental property there will always be good and bad landlords. I do not think it is fair to say never to go with a private landlord as you will get ripped off and it is a risk. As with tenants there are good and bad ones here too and even though I have had bad tenants in the past, I would not let this influence me by saying that all potential tenants would be the same.

My advise to you would be to make sure you never hand over any money without a receipt, I wouldn't put in an application without viewing the property either. As rental properties are in short supply it is tempting to try and be one step ahead of the game but a good, honest landlord will always do the right thing...

Also...unfortunately, you will soon learn that their are good and bad real estate agents too.

Good luck in your search.

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