Help for landlords

Will you manage your property, or get a professional to help? Here's a look at what being a landlord can involve - and a reminder to check you're covered by insurance.

Property management

About managing a property

If you don't think you have the skill or the time to be a landlord, you could think about hiring a property manager. Consider how involved you'd like to be in the management of your rental property.

Managing your property

Property managers have a lot of duties, and we can't lie - at times it can be a very stressful role to play, especially if you get difficult tenants. So have a good think about whether you have the time and inclination to take on this role. However, there are benefits to managing your own rental property. You can rely on your own intuition when making decisions, and if you have time to take care of the day-to-day management it can save you a lot of money.

Check out the Department of Building and Housing website, for a variety of helpful templates such as tenancy agreements and bond forms.

Getting a property manager

Your other option is to pay a property manager to take care of duties for you, including screening tenants, checking references and doing credit checks, which can help you avoid the pitfalls of tenants. They also know all the ins and outs of what your legal requirements are regarding bond payments, managing tenants and any necessary follow up. Property managers will take approximately 8-10% of the rental income.

You can give your property manager a budget for regular property maintenance or unexpected repairs, so they don’t have to bug you every time something comes up.

We’ve put together a checklist of questions to ask a potential Property Manager, to make sure they're the right person for you.

Download the Property Manager checklist.

Your rights and responsibilities as a landlord

The Department of Building and Housing has a list of your rights and responsibilities as a landlord, including what you can and can't do in relation to your property and tenants.

Visit the Department of Building and Housing

Insurance for landlords

Insurance for landlords

It’s a no-brainer that you’ll need to protect your investment property, but make sure your insurance policy considers your needs as a landlord. For example, our Home and Contents insurance could help you to recover lost rents for up to 12 months to a maximum of $20,000 if your property is unlivable and being repaired or rebuilt as part of a claim. And we’ll cover your chattels like appliances, furniture, carpets and blinds up to $5,000.

You should also ensure you’re covered for the additional debt of owning one or more investment properties. Income protection insurance is also something you may wish to consider as a landlord.

View all our insurance options here