How To Guarantee Your Rental Income, Higher Rent And Even Good Tenants
It’s an age-old, time-tested technique you can use to build your wealth.
Simply put, renting out property is a fantastic way of generating an income.
Plus, over time, the price of the property will rise, further adding to the financial benefits of such an investment.
It’s definitely a win-win situation for you as a landlord.
But there are a couple of stumbling blocks standing in your way…
Firstly, securing good tenants.
And secondly, ensuring they pay their rent.
Until recently, you had two options to deal with this:
- Manage the whole process yourself, taking on the considerable investment of time needed to achieve this.
- Employing the services of a letting agent who will do all this for you, but charge a handsome fee for it.
But now you have another option available to you.
- Vets tenants for you for free.
- Guarantees your rental income.
- And has the potential to boost your rental income.
Plus a whole host of other benefits.
So what is it and how does it work?
Let’s take a closer look…
Introducing The Landlord’s Secret ‘Income Weapon’
Last year, HouseME entered the property market.
Through its mobile app and web portal, it offers landlords and tenants alike a range of services facilitating the rental of property.
So how does it work for landlords?
In essence, it works in a similar way to a letting agent, but with a number of high-tech benefits. Plus the fees are much less than that of a traditional letting agent.
What HouseME Offers To Landlords
There are three core services you gain through HouseME…
HouseMe Service #1: Renting Out Your Property
In the first of its kind in SA, HouseME offers an auction-mechanism for rentals. By using this facility, you could potentially boost your monthly rental income.
For instance, let’s say you decided a monthly rent of R10,000. If you opted to use HouseME’s auction facility, you could end up netting more per month. Imagine, R11,000 or R12,000.
You may have totally underestimated the true worth of your property and the sky high demand for it.
If this is the case, prospective tenants could push your rental amount up through bidding for it at auction.
In fact, on average, HouseMe boost rental income to landlords by 10% through their auction facility.
If you opt for this, any extra rent you gain above your reserve rental price, will see you paying 25% of it to HouseME. A small price for a boost in monthly yield.
If you use their services at a set rental amount, you’re looking at a reasonable monthly charge of 2.5%.
You’ll be hard pushed to find other letting agencies with such competitive fees.
HouseME Service #2: Free Tenant Vetting
As a landlord, one of the biggest worries is finding the perfect tenant.
The last thing you want is a tenant that’s going to damage your property, cause issues with neighbours and avoid paying their rent.
To deal with this, HouseME offers you free tenant vetting as part of their service.
This includes credit checking prospective tenants.
In addition to this is the tenant vetting system. Every three months, landlords rate their tenants.
This helps to flag up rogue tenants to other landlords.
HouseME Service #3: Guaranteed Rental Income
To provide landlords with even more peace of mind, HouseME guarantees rental income for up to three months.
This avoids the need for you to have your own rental insurance.
The deposit the tenant puts down covers one of the months. HouseME covers the remaining two months through an insurance policy it holds with OneSure.
HouseME covers this cost and it’s all included in your monthly flat fee of 2.5%.
Additional HouseME Services
To make life easier, you can also use HouseME to assist getting work done on your property.
They offer their landlords a discounted rate for using FixForward to access the services of different tradesmen.
And HouseME also offers reduced rate legal services through an attorney it works with.
Should You Use HouseME?
If you have plenty of time on your hands and don’t want to deal with another company when renting out your property, then no.
But even if you want to go it alone, don’t discount the benefits of using HouseME. Their services could save you a lot of hassle and wasted time.
If you’re already using the services of a letting agent, you must consider what HouseME can do for you.
Why pay 7.5% plus a month to a letting agent when you could be paying a modest 2.5%?
Why pay for rental insurance when you can get it as part and parcel of your monthly fee with HouseME?
Why not try to boost your potential income from your property? You could have been losing out for years by charging below par rent.
How To Use HouseME
It’s really straightforward…
- First off, head to their website and register as a landlord by creating a profile.
- Upload details about your property, including photos. You’ll also have to prove ownership, which you can simply do by providing a relevant bill or statement for the property.
- Decide on a fixed rental amount or opt to use their auction facility to boost your potential monthly yield.
- Personalise your rental agreement, including services that you want to include.
Then you can sit back and let HouseME do the hard work for you.
They will advertise your property for you through various sites.
Once prospective tenants register interest, only after passing the strict tenant vetting process will they be allowed to view the property.
The successful tenant will then sign their rental agreement.
Become Part of The Rental Property Revolution
HouseME is really at the forefront of change in the rental property market in SA.
By being part of it, you stand to benefit in a number of ways…
You can save yourself from paying inflated letting agent fees.
You can have longstanding well to do tenants in your property.
You don’t have to worry about tenants paying your rent thanks to inclusive rental insurance.
And you could get more per month for your property than you thought.
It really is a landlord no-brainer!
Until then, here’s to profitable property investing.
The Money Lab