Self-Managing Your Rental Property: Getting Started
Thinking about self-managing your rental property? Learn the laws, costs, tenant screening, lease, bond and maintenance basics to start with confidence.
Quick Summary
Self-managing your rental can save thousands in agent fees and gives you full control. To get started:
- Learn your state’s tenancy laws
- Get landlord insurance and line up reliable trades
- Screen every tenant thoroughly
- Get the lease, bond and condition report right
- Use software to automate rent, reminders and records
If you are already self-managing your own property, or you are thinking about switching from an agent to self-manage your own property, then this guide will help you get the basics right so you can get started with confidence.
Property owners often prefer to cut out real estate agents (and their fees) and self-manage their properties. There are already a large number of property owners self-managing in Australia, from first-time investors with a single unit to real estate investors with a growing portfolio.
Each state in Australia has its own government agency and regulatory requirements to comply with. This article focuses on how to get started and walks through the full rental lifecycle, from finding a tenant to the end of a lease. You might also like to review our quick reference guide on renting out your property without an agent.
Our aim at RentBetter is to provide you with content and support to make this whole process a frictionless experience for you and your tenant. We build the necessary documents and compliance into our process, and you can register here for a demo to check out the RentBetter platform.
Is Self-Managing a Rental Property Right for You?
Most landlords who self-manage do it for two reasons: cost savings and full control over their investment.
What a property management company costs
A property management company usually charges an ongoing management fee as a percentage of the rent it collects. On top of that you'll often see a letting fee when a new tenant is placed, plus charges for routine inspections, lease renewals, tribunal attendance and end of financial year statements. Property management fees vary by state and agency, so check your current management agreement for the exact figures.
As an example, a property renting for $650 a week with a 7% management fee plus GST costs the owner roughly $2,600 a year in management fees alone. Letting and admin fees come on top. You can run the numbers on your own property with our Savings Calculator.
The time cost and opportunity cost
Fees are only one side of the equation. Self-managing takes time, and your time has value.
In a typical month the time cost is small. You confirm rent has arrived, answer the odd question and approve a repair or two. The busy periods come at tenant turnover, when you are marketing vacancies, running showings and collecting applications.
Weigh the opportunity cost honestly. If an hour spent on your rental would otherwise be billed at work or spent with family, factor that in. For most owners of one to a few properties who set up good systems, the numbers favour self-management comfortably.
What you gain beyond the savings
- Full control over who lives in your property, which repairs get approved and how much is spent.
- Direct tenant relationships, which usually mean faster answers and fewer misunderstandings than when every message passes through an agent.
- Hands-on learning about your asset. You'll understand your local market rent and the true condition of the property far better than you would from a quarterly report.
Consider a hybrid approach
Self-management doesn't have to be all or nothing. Plenty of landlords take a hybrid approach by outsourcing specific parts of the job, such as professional photos, a condition report or a tenant check, while keeping day-to-day management in-house. The RentBetter Marketplace is set up for exactly this.
Know Your Local Rental Laws
Landlord-tenant laws in Australia are set by each state and territory. Legal compliance is the one area where getting it wrong can cost you far more than an agent ever would, so spend an hour on your state's tenancy authority website before you list.
You don't need a real estate licence to lease and manage your own property. A licensed leasing agent is only required when someone manages a property on behalf of another owner for a fee.
State or territory | Tenancy regulator | Disputes heard by |
|---|---|---|
NSW | NSW Fair Trading | NCAT |
VIC | Consumer Affairs Victoria | VCAT |
QLD | Residential Tenancies Authority | QCAT |
WA | Consumer Protection WA | Magistrates Court |
SA | Consumer and Business Services | SACAT |
TAS | Consumer, Building and Occupational Services | Residential Tenancy Commissioner / Magistrates Court |
ACT | Access Canberra | ACAT |
NT | NT Consumer Affairs | NTCAT |
The rules every self-managing landlord should check
- Lease agreements. Most states require a prescribed standard form of agreement. You can add special terms, but they can't override the legislation.
- Bond (security deposit) rules. In Australia a security deposit is called a bond. It's generally capped at four weeks' rent for standard rentals and must be lodged with your state's bond authority within a set timeframe. It can't sit in your own account.
- Notice requirements. Minimum written notice periods apply to rent increases, entry for inspections or repairs, and ending a tenancy. Most states now limit rent increases to once every 12 months.
- Minimum standards. Several states set minimum standards a rental must meet before a tenant moves in, covering things like secure locks, weatherproofing, ventilation, working bathroom and kitchen facilities, and safe electrical fittings.
- Smoke and carbon monoxide detectors. Working smoke alarms are mandatory in every state, with testing and replacement duties that vary. Queensland requires interconnected photoelectric alarms. Carbon monoxide alarms aren't mandated nationally, but they're a sensible addition wherever there are gas appliances.
- Building codes and regulations. Pool barriers, blind cords, balconies and gas and electrical safety checks all carry specific obligations. Victoria, for example, requires gas and electrical safety checks every two years.
- Ending a tenancy. NSW, Victoria, Queensland, South Australia and the ACT now require a valid reason to end most tenancies. Know the accepted grounds before you sign a lease.
Tenancy reforms have been frequent in recent years. Check your state regulator's site for current rules, or book a Safety & Compliance Check if you're unsure where your property stands.
Set Up Your Foundations Before the First Tenant
A little preparation before you advertise saves a lot of stress later. These are the pieces most rental property owners wish they had sorted on day one.
Landlord insurance and liability protection
Standard home and contents insurance rarely covers a tenanted property. Landlord insurance typically protects against loss of rent, malicious or accidental damage by a tenant, and legal liability if someone is injured on the property. If you own a unit, confirm what the strata policy covers and insure the rest.
Entity structure, mortgage and property taxes
The way you hold the property affects your tax position, land tax thresholds and liability protection. Owning in your own name, jointly, through a trust or via a company each has different outcomes, so speak to your accountant before buying or restructuring.
If you're turning your former home into a rental, tell your lender. Some owner-occupier mortgage products need to be switched to an investment loan. Budget for insurance and taxes as well, including council rates, water service charges and state land tax where it applies.
Accounting and tax deductions
Good accounting from the start makes tax time simple. Rental income must be declared, and many costs are deductible, including loan interest, repairs, insurance, property management software and depreciation. A Tax Depreciation Schedule often pays for itself in the first year. Our top tax tips for landlords cover the essentials.
Creating systems and processes
Systems are what separate a calm self-managing landlord from a stressed one. Put these in place early:
- Property management software to handle rent, documents, reminders and reporting in one place.
- A digital document management system so leases, condition reports, invoices and notices are stored together and easy to find.
- Communication SLAs that you share with your tenant. For example, you might acknowledge routine maintenance requests within one business day and urgent issues within two hours.
- Clear boundaries around how and when your tenant should contact you, with a separate number or in-platform messaging for anything after hours.
- A key dates calendar covering lease expiry, routine inspections, smoke alarm checks and insurance renewals.
- An exception log for anything outside your normal process, such as a late payment, a complaint or an urgent repair. It builds an audit trail you'll be glad of if a dispute ever reaches a tribunal.
Build your contractor network
You don't want to be searching for a plumber at 10pm on a Saturday. Line up reliable trades before you need them:
- Plumber
- Electrician
- Handyman for small jobs
- HVAC technician for air conditioning and heating
- Locksmith
- Cleaner and gardener for turnover and landscaping
Have a backup for the critical trades. Strong vendor relationships mean faster call-outs and fair pricing. If you don't have contacts in your area yet, you can hire a tradesperson through RentBetter.
The Full Rental Lifecycle
The different phases covered in the process of managing a property are as follows. Each phase links to a more detailed guide.
Match a Tenant
- Create your ad
- Manage and respond to enquiries and applications
- Schedule and host viewings
- Select a tenant
Set the right rent
Start with market rent. Look at comparable properties in your suburb with a similar number of bedrooms, parking and condition, then check local vacancy rates to see how quickly rentals are being taken.
Pricing too high is the most common mistake new landlords make. On a $650 a week property, a single vacant week costs $650. That equals a discount of about $12.50 a week across a full year, which is why a slightly sharper price usually wins. Our free Rental Estimate Report gives you a data-backed starting point.
Marketing vacancies and managing listings
Your listing is your shop window. Good professional photos, a floorplan and an honest description of the property's best features will lift both enquiry volume and the quality of applicants. You can book Property Photography if you'd rather leave it to a pro.
Most Australian renters search on the major rental platforms, so that's where your ad needs to be. Overseas guides often mention tools like Zillow Rental Manager, but these don't serve the Australian market. Here, RentBetter lists your property on realestate.com.au, Domain and Rent.com.au from one place. Social media and local community groups can add reach, though they also attract more scam and time-wasting enquiries.
Running showings
Group open inspections save time and give applicants a sense of demand. Private showings suit busy professionals or premium properties. For safety and follow-up, collect each attendee's name and contact details at the door. If you can't attend, you can book someone to run Property Viewings for you.
Collecting applications and screening renters
Finding and screening renters is the most important decision in the whole process. Write your tenant screening criteria down before applications arrive and apply them consistently to every applicant. Discrimination laws apply to private landlords, and some states restrict what you can ask on a rental application, so use your state's approved form or a compliant platform.
Check | What it tells you |
|---|---|
Identity verification | The applicant is who they say they are and their documents haven't been altered |
Income verification | Whether the rent is affordable. A common income standard is rent at or below 30% of gross income |
Rental history | References from previous landlords or agents, plus payment history and how the property was left |
Tenancy database check | Australia's equivalent of an eviction report, showing listings for serious breaches such as unpaid rent or damage |
Credit check | Credit standing and any defaults, often shown as credit score bands. Requires the applicant's consent |
Criminal report (police check) | Only with the applicant's written consent and rarely required for residential rentals |
For students, first-time renters or applicants with limited history, guarantors can make a borderline application workable. Together these checks form a solid background check, and a tenant screening platform pulls them into one report. You can Run a Tenant Check on RentBetter in a few minutes.
Manage Your Tenancy
Lease drafting and lease management
A compliant lease protects both you and your tenant. Use your state's prescribed residential tenancy agreement as the base and keep any additional terms clear, specific and lawful. Common additions cover garden upkeep, pets and who pays which utilities.
Decide upfront whether you'll offer a fixed term (usually six or 12 months) or a periodic agreement. Digital signing lets everyone sign from their phone and stores the executed copy straight into your records. Good lease management also means tracking expiry dates so nothing rolls over by accident.
Rent collection
Online rent payment systems remove most of the friction from rent collection. Automatic electronic payments arrive on schedule, every transaction is recorded and receipts are issued without you lifting a finger. Some states require landlords to offer at least one fee-free way to pay, so check your rules before choosing a rent collection app.
If rent is late, act early and stay polite. A friendly reminder in the first few days resolves most cases. If arrears reach your state's statutory threshold (between 7 and 14 days depending on the state), you can issue formal late payment notices. Keep a copy of every notice with your communication records.
Tenant communication and professionalism
Treat your rental like a small business. Keep tenant communication in writing wherever possible, either by email or in-platform messaging, so you always have an accurate record of what was agreed. Respond within the timeframes you've promised and always give proper written notice before entering the property.
Professionalism builds trust. Tenants who feel respected tend to report issues early, pay on time and stay longer.
Lease renewals and the renewal runway
Give yourself a renewal runway of 60 to 90 days before the lease ends. That leaves time to review market rent, decide whether to offer a renewal, and serve any rent increase notice within the required period (60 days in most states).
Rent optimisation is about balance. A modest increase in line with the market usually beats losing a reliable tenant, as tenant retention saves you weeks of vacancy, advertising and cleaning costs.
Maintain Your Property
- Handle administration, repairs, expenses and maintenance
- Conduct routine inspections
- Report on income, expense and financial position
- Communicate on regular intervals with you and your tenant
Handling maintenance requests
Ask your tenant to log maintenance requests in writing with photos, ideally through a single channel. That gives you one place to triage each job and track it through to completion.
Maintenance and repairs fall into two groups. Urgent or emergency repairs need action straight away, and every state defines them in its legislation. Typical examples include:
- A burst water service or serious water leak
- A blocked or broken toilet
- A serious roof leak or storm damage
- A gas leak or dangerous electrical fault
- Failure of the hot water, cooking or heating supply
Everything else, from a dripping tap to a sticking door, is routine maintenance and can be booked in at a convenient time.
Your emergency response plan
Emergency maintenance rarely happens during business hours. Give your tenant a written emergency response plan at the start of the tenancy that lists who to call, your preferred contractors and how to shut off water, gas and power. In many states a tenant can arrange urgent repairs themselves if they can't reach you, and you'll be liable for the reasonable cost.
Routine maintenance and property upkeep
Regular property upkeep prevents small problems from turning into expensive ones. A simple schedule keeps maintenance coordination on track:
Task | Suggested timing |
|---|---|
Test smoke alarms and replace batteries | At least annually, per your state's rules |
Service HVAC systems and clean filters | Annually |
Clear gutters and check the roof | Before winter and storm season |
Inspect water heaters for leaks and corrosion | Annually |
Landscaping, trees and common areas | Seasonally, or as set out in the lease or strata by-laws |
Deep cleaning and touch-ups | At each tenant turnover |
Routine inspections are your chance to spot issues early. Most states cap them at around once every three months with at least seven days' written notice, though exact rules vary.
Keep maintenance logs
Record the date, issue, contractor, cost and outcome of every job, along with invoices and before and after photos. Maintenance logs back up your tax deductions, support any bond claim and show you met your repair obligations if a dispute arises.
Starting a Tenancy: The Big 4
If you already have your tenant and are ready to start a tenancy, this typically consists of four key elements. They have slightly different names depending on which state you are operating in, but ultimately have a similar intent and outcome. We cover this in detail on a state by state basis in our blog renting out your property without an agent.
- Guide. A guide or checklist provides the tenant with a range of helpful items that they should know or understand before signing a lease.
- Lease. A residential tenancy agreement (or lease) is the legal contract and terms and conditions between the owner and the tenant.
- Bond. A rental bond is a security deposit a tenant pays at the start of a tenancy, which is then lodged with the state government agency.
- Condition report. This report records the general condition of the property on a room by room basis, and is signed within the first 7 days of the lease by both the owner and tenant.
The condition report matters more than most new landlords expect. Take detailed, dated photos of every room, because it becomes your key evidence at move-out. If you'd prefer an independent record, you can Book a Condition Report.
Record-Keeping and Financial Statements
Strong recordkeeping turns tax time from a scramble into a 20 minute job. Keep every lease, notice, invoice, receipt and communication in one place, and record income and expenses as they happen.
At a minimum, track:
- Rent received, with the date and period it covers
- Expenses such as repairs, insurance, rates, strata levies, interest and fees
- Utilities you pass on to the tenant, such as water usage where the property meets your state's water efficiency requirements
- Notices issued and received
Regular financial statements show how your property is actually performing, and a clean audit trail makes life easier for you and your accountant. The ATO generally expects you to keep rental records for five years, and records relating to capital gains for as long as you own the property plus five years.
Tenant Disputes, Ending a Tenancy and Turnover
Handling tenant disputes
Most tenant disputes come down to communication. Talk it through first, then confirm what was agreed in writing. If you still can't resolve it, your state's fair trading or tenancy authority offers free mediation, and the tribunal is the last step. Good problem-solving early on keeps most issues from ever getting that far.
Legal notices and eviction procedures
In Australia, termination and eviction procedures follow a set path:
- Serve a valid notice of termination (often called a termination notice) on accepted grounds and with the correct notice period.
- If the tenant doesn't leave by the date given, apply to your state tribunal for a termination order.
- If the tenant still doesn't leave, the order is enforced by a sheriff or bailiff, depending on the state.
Changing the locks or removing a tenant's belongings yourself is illegal. Eviction coordination is where your records earn their keep, as the tribunal will want to see your lease, rent ledger, notices and communication records.
Move-out inspections and the bond
At the end of the tenancy, complete move-out inspections against the original condition report. Fair wear and tear is expected, but damage beyond that, unpaid rent or cleaning shortfalls can be claimed from the bond. If you and your tenant agree, the bond is released quickly. If you don't, the tribunal decides.
Managing tenant turnover
Every tenant turnover means lost rent, cleaning, minor repairs and a fresh round of marketing. Start planning as soon as notice is given. Book trades and cleaners early, refresh your photos and get the new listing live before the outgoing tenant has left.
Keeping a good tenant is usually cheaper than finding a new one. Respond quickly to repairs, keep rent in line with the market and treat your tenant fairly. Tenant retention is one of the biggest drivers of long-term returns.
Switching From an Agent to Self-Management
If your property is currently with an agent, a simple transition plan makes the handover smooth:
- Check the notice period and any termination fees in your management agreement.
- Give written notice to the agent and request every document they hold, including the lease, condition report, bond details, rent ledger and keys.
- Arrange a bond transfer with your state authority so the bond sits in your name.
- Write to your tenant to introduce yourself, explain how to pay rent from now on and share your maintenance and emergency contacts.
Our free Agent Switch Kit includes the letters and checklists for each step. You can always call in a real estate agent or a specialist for a one-off task later on. Self-managing simply means you decide when.
Use the RentBetter Platform to Easily Manage 'The Big 4'
The platform enables you to advertise on Australia's leading property sites (realestate.com.au, Domain.com.au and Rent.com.au) so you can find a great tenant.
Once you've found a tenant, you can create and send your lease agreement from the platform directly to your tenants where you can sign digitally. Manage your property and tenant relationship with access to a host of tools, right at your fingertips:
- Set up and organise bond payments
- Conduct digital condition reports (or hire a pro to do it for you)
- Collect, manage and provide receipts for rental payments
- Track expenses and automate reports (including EOFY)
- Instant message your tenant on platform
- Extend or end your lease agreement at the click of a button
- Store all your important docs in one place
- Schedule repairs and maintenance
- Organise routine inspections
- Receive automatic reminders, payment notifications and prompts so you don't have to waste time thinking about it
Frequently Asked Questions
Can I self manage my rental property in Australia?
Yes. Any owner can lease and manage their own property without a real estate licence. You still need to follow your state's tenancy laws on leases, bonds, notices, repairs and minimum standards.
How much do property management fees cost?
Most agencies charge an ongoing management fee as a percentage of rent, plus a letting fee for each new tenant and extra charges for inspections, renewals and statements. Rates vary by state and suburb, so compare your own management agreement using our Savings Calculator.
What does a self-managing landlord need to do?
You'll handle the full rental lifecycle. That includes setting the rent, marketing the property, screening tenants, signing the lease, lodging the bond, collecting rent, coordinating repairs, running routine inspections and keeping records for tax.
Do I need property management software?
It isn't compulsory, but it makes self-management far easier. Software keeps your documents, payments, communication records and reminders in one place, and its cost is generally tax deductible against your rental income.
What happens if my tenant stops paying rent?
Contact them early and put any payment arrangement in writing. If arrears reach your state's statutory threshold, you can issue a formal notice and, if needed, apply to the tribunal. Landlord insurance with loss of rent cover can protect your cash flow while this plays out.
