Perth · Sharehouse management
We manage Perth sharehouses on your behalf — every room let under its own residential tenancy agreement. It multiplies the income a property can carry and lifts the owner's net return by 50–70%.
Modelled on a real appraisal — a four-room house in Craigie, let at $750/wk on a single lease.
Net to you, per year
$58,750
After our 15% fee and running costs
Same house, single lease
$35,354
After a standard 9.35% agency fee
All four rooms let — +66% on the single-lease net.
The model
Letting the same house as a managed sharehouse spreads that income across several tenants, several agreements and several bonds — and lifts the total rent the property can carry.
Each room is let under its own residential tenancy agreement made under the Residential Tenancies Act 1987 (WA), naming that room with shared use of common areas. Every tenant is responsible only for their own rent, and every bond is lodged separately with Bonds Administration.
Rooms turn over one at a time, so the property is almost never sitting empty. When someone leaves, the rest keep paying while we re-let the room. The risk that your property drops to zero income — the thing that happens the moment a single lease ends — is largely designed out. Both properties we manage have been fully let every week since letting began.
Condition reports, inspections, lease preparation and tenant onboarding all sit inside the fee. We charge on rent actually received rather than appraised rent, so an empty room costs us too. Rent is paid direct to you and we invoice monthly.
Because for one house it is four of everything. Four lots of photography and viewings, four agreements, four bonds, four condition reports, four tenants to screen and four sets of questions to answer — against a single management fee on a single lease for the same address. Most agencies have decided that is more trouble than it is worth. We built the business the other way round: this is the only thing we do, and the systems, documents and processes were designed for it from the start rather than bolted onto a single-lease operation.
Every property we manage is configured to stay within the occupancy limit that keeps it a standard residential tenancy under WA law, rather than a registrable lodging house. We confirm the position for your property, its local planning scheme and your insurance before a single room is advertised.
Results
Both are live. Craigie has run at full occupancy for 18 months, Orelia for 3.
Craigie
Fully let, 18 months continuous
Three of the four rooms let is enough to beat the single-lease net. The fourth is upside.
Orelia
Fully let, 3 months continuous
Two of the three rooms let matches the single-lease net. With only three rooms the third is where the real gain sits.
Who we are
We bought our first investment property together — a 1970s house on a large block, the sort that earns its keep slowly through the land under it — and painted the front door cherry red. The loan was substantial, and on a single lease the rent simply did not cover principal and interest. So we let it room by room instead. It covered the repayments with room to spare, at a gross yield of around 12%.
That house is the Craigie property shown above, and we still let it the same way today. After a while the numbers stopped needing an argument: what we had worked out on our own place could be applied to other people's, and most owners have no idea the option exists.
The name came from that front door. We think the world could do with more colour, and a front door is a reasonable place to start.
We rented here for years before we managed here. Both of us arrived, found somewhere to live, and dealt with agents who had never seen the property, repairs that took three weeks and two call-out fees to resolve, and small problems left long enough to become expensive ones. Every one of those costs lands on the owner in the end. We built Red Door around not doing that: requests triaged the day they arrive, trades we know and use repeatedly, and jobs done once rather than twice. It is not a high bar. We intend to clear it comfortably.
Oli
Co-founder
A British geologist who moved to Perth and stayed. Qualified as an unrestricted real estate agent in Western Australia.
George
Co-founder
Also a geologist, also British, also here for good. Qualified as an unrestricted real estate agent in Western Australia.
Between us that means two countries' worth of letting practice — the British sharehouse market, where this way of running a property is ordinary, and the Western Australian one, where it is not. We have taken what works from each.
What we handle
Furnishing is the owner's responsibility — we'll spec exactly what each room needs and can arrange it within a budget you set. The rest sits with us.
Request an appraisal
We'll model it both ways — a standard single lease against a room-by-room configuration — and send you the comparison, room by room, with the assumptions shown. No cost, no obligation.
Or complete the full property questionnaire →
Four minutes. Gives us everything we need to appraise it properly.