There are a lot of articles and narratives out there about the pros and cons of being a private landlord, but only a few can be seen discussing the perks and pitfalls brought by private rentals to tenants. And never ones to stay in our lane, we wanted to change that up!

Since a lot of the younger generation are struggling to climb the property ladder nowadays, it does leave a lot of Tasmanians renting homes with hopes of adapting to the ever-changing market. With the options of renting through an experienced agent or through a private landlord, others tend to choose the latter for financial reasons.

Whilst some owners do the process by the book, others are accidental or experimental landlords. The tendency, legal rights and responsibilities of both parties can often be neglected or misunderstood. 

By trying to save extra bucks for a middleman’s professional fees, it’s like trying to play a game of monopoly without a dice?! Not only do you exchange a professional’s years of experience for much cheaper fees, but you also put your peace of mind at risk.

Aside from saving minimal cash, the misconception that property managers and agents only take the side of the property owners is another reason why other renters prefer to cut the middle person out of the process. This is what 4one4 Property Co.’s Business Development Manager Joanne Strange wanted to take some time to debunk.

“We actually have lots of rules and regulations to follow, so we don’t take anyone’s side at all times,” Joanne stressed.

“As the middleman between the tenants and the owners, we work to effectively communicate each other’s needs and concerns. We want the best for both of them.”

As an agency that campaigns for excellent customer service and champions client satisfaction, we thought it is time we dig deeper and provide more context about private renting from a tenant’s perspective.

We might live in bricks and mortar homes, but we are also deeply immersed in a digital world on the daily!  Almost every item–if not all–can now be purchased online. Renting homes is no exception to this. Websites and applications for private rentals are continuously increasing in number giving potential tenants more options to choose from. A good example and unquestionably, one of the most popular sites for this is Gumtree and Marketplace. 

No doubt, there are some benefits that a tenant could enjoy if he/she wishes to rent through a private landlord. These include the following: (1) cutting out the middle person for direct communication, (2) saving money on admin and other fees, (3) perhaps acquiring cheaper rental rates, (4) getting rid of credit checks, and (5) dealing with flexible deposit arrangements. 

Whilst there are a number of perks that a tenant may enjoy when renting a property directly from a landlord through unmonitored sites like the Marketplace or Gumtree, this does not eliminate the potential risks and dangers this may also carry. We’ve collated for you some of the risks that private renting brings which renters should  be aware of before making their final decisions.

Tenant Protection: Missing in Action

Truth be told, private landlords often have little to no knowledge of property renting and its legalities. More often than not, lease agreements are issued informally and at times, no written agreements are released before moving in. More than just a simple loophole, this is a massive red flag since you could be risking your own full rights as a tenant. 

When push comes to shove, your claims might just be disregarded regardless of your verbal agreement. If a proper lease is in place, you know you can’t have the rug pulled from under you without good discourse. We have heard stories of families being evicted with a few days notice because a landlord’s friend needed a place to stay. Hence, it would help if you always demand formal written agreements that experienced letting agents or property managers would never fail to provide.

Tricks and Scams

If you’re in the market for a long time now, you must have read many horror stories about scams being rampant on insecure online platforms. The last thing you’d want to experience is to just lose your hard-earned money for nothing. And yes, these real-life experiences can happen to anyone – scammers can get pretty crafty with the elaborate ways they try to trick you these days and you don’t have to be reckless or a ‘newbie’ on such platforms to be caught. 

The security that unregulated sites could not provide is a default in professional agents’ systems. Paying the extra bucks to a professional letting agent or property manager can save you from a whole lot of disaster, moving forward.

Insufficient Legal Knowledge

This is a big one! At times, private landlords aren’t aware and knowledgeable of the legalities involved in renting  (or not even the essential points) – that’s why the professionals are professional since they have completed training and certification to become experts in the field. It can often be unintentional, but with their ultimate goal to bring in positive cash flow, not everyone has the time and dedication to know the lay of the land–especially the ‘accidental’ and ‘newbie’ ones. 

The tendency, they may neglect their legal responsibilities. But when an experienced agent is put in the picture, you won’t need to worry about this since it is their job to gain a comprehensive understanding of the law and legal processes involved as far as rental properties are concerned.

Viewings Vulnerability

Since private landlords are not regulated unlike professional agents and property managers, viewings and inspections should be taken cautiously. Aside from going to an unfamiliar location, you are also meeting a complete stranger for the first time. 

Better safe than sorry, you should always do your research and it’s perhaps a good idea to look for information online such as the address to ensure that all the details match the property you are expecting to view. In contrast, if you rent through an established agency, you’ll be relieved to know that agents and property managers abide by the industry’s professional conduct and legislation.

Repairs and Maintenance Inefficiencies

Property managers do regular inspections of rental properties to (1) address tenants’ concerns and (2) keep properties in their best condition. Through this, too, necessary repairs and complaints are being communicated transparently and as a result, actions are implemented eventually.

When renting through private landlords or a property you’ve found on Gumtree or Marketplace, chances are the landlord isn’t focused on the maintenance aspect of the property or he/she is busy doing other personal things. Since many landlords do not live around the corner of their rental property, this could mean long waits and queues for any maintenance or general repair issues.

These are just some of the risks and pitfalls entailed with private rentals in sites like Gumtree or Marketplace. And with the cost of living on the rise and property prices increasing, one would certainly want to make worthy and confident decisions when it comes to their homes. Hence, it is valuable to consider all the ins and outs of renting a property before you get labelled officially as a tenant. 

Having witnessed the horrors of private renting, 4one4 Property Co. confirms that the service and peace of mind one could get when working with a reputable agent certainly outweigh the minimal fees needed to get things started.

Just as some food for thought, the next time you are looking to rent a property, do not just focus on the minimal money that you could save when you rent privately. Moreso, take note of the possible risks and dangers involved in the process. 

For any other enquiries or questions, never hesitate to reach out to our friendly superstar team. We are here to help and always want the best for whoever we encounter!!