Find an Agent to Rent Your Property

To set a competitive rental price, research similar properties in your area, consider the features and condition of your property, and consult with a local real estate agent for a professional rental appraisal.

Ensure the property meets safety standards, such as working smoke alarms and electrical safety. You may also need to provide a gas safety certificate if applicable. Compliance with local tenancy laws is essential.

Hiring a property manager can save time and hassle by handling tenant selection, rent collection, maintenance, and legal compliance. Managing the property yourself can save money but requires a significant time commitment.

Screen tenants by checking their rental history, credit score, employment verification, and references. A thorough screening process helps ensure reliable and responsible tenants.

A rental agreement should cover the rental price, payment terms, bond details, lease duration, maintenance responsibilities, rules regarding pets and smoking, and any other specific terms.

The bond is typically equivalent to four weeks’ rent, held as security against property damage or unpaid rent. It is lodged with the relevant state or territory authority and returned at the end of the tenancy if no claims are made.

Landlords must maintain the property in a safe and habitable condition, address necessary repairs promptly, and ensure all utilities and appliances are in working order. Tenants are responsible for general cleanliness and reporting issues.

Effective marketing includes high-quality photos, detailed descriptions, listing on major rental websites, social media promotion, and possibly hiring a real estate agent to reach a broader audience.

Tenants have the right to quiet enjoyment, privacy, and timely repairs. Landlords must provide notice before entering the property and follow proper legal procedures for rent increases and evictions.

Rent collection can be handled via direct debit, bank transfer, or through a property management service. If a tenant falls behind, follow legal processes to issue reminders, negotiate payment plans, and potentially proceed with eviction if necessary.

Ending a tenancy requires providing appropriate notice as per the lease agreement and local laws. Notice periods vary depending on the reason, such as property sale, personal use, or lease violations.

Landlord insurance is essential, covering property damage, loss of rental income, and liability. It complements standard home insurance and provides additional protection specific to rental properties.