Renting Out Your Property in Australia – A Complete Guide for First-Time Landlords

Thinking about renting out your home? With rental demand at an all-time high, now is a great time to turn your property into a reliable income stream. Whether you're new to the rental market or exploring self-management for the first time, this guide will walk you through everything you need to know to become a confident, compliant, and successful landlord.

1. Is Renting Out Your Property the Right Move?

Before you list your home, take a moment to assess your goals and readiness. Ask yourself:

• Are you seeking long-term rental income or short-term flexibility?

• Can you emotionally detach from the property and treat it as an investment?

• Are you prepared to take on the responsibilities of a landlord?

Once you’ve weighed the pros and cons, you’ll be better equipped to move forward with confidence.

2. Get Your Property Rental-Ready

To attract quality tenants and meet legal standards, your property should be safe, functional, and appealing. Key preparation tasks include:

• Installing a working, energy-efficient heating system

• Ensuring all windows open, close, and lock securely

• Addressing any signs of mould—consider a professional inspection

• Upgrading internet and phone lines, including NBN access

• Improving ventilation in kitchens, bathrooms, and laundries

• Installing secure deadlocks on external doors

• Ensuring bathrooms, kitchens, and laundries are fully operational

• Weatherproofing and checking structural soundness

• Verifying that electrical systems meet Australian safety standards

💡 Proactive maintenance now prevents costly issues later—and keeps tenants happy.

3. Understand Your Legal Responsibilities as a Landlord

Landlord obligations vary by state or territory, but common duties include:

• Paying council rates and property-related fees

• Providing at least 24 hours’ notice before entering the property

• Responding to urgent repairs immediately and non-urgent ones within 14 days

• Issuing notices to vacate if rent is overdue by more than 14 days

• Maintaining smoke alarms, gas appliances, and pool safety features

Check your local tenancy legislation to ensure full compliance.

4. Know the Legal and Tax Implications

Renting out your home changes your legal and financial obligations. Key considerations:

• You may be eligible for tax deductions on depreciation, repairs, and property expenses

• You must declare rental income on your tax return

• You’ll need to comply with your state’s Residential Tenancies Act

💡 Consult a property-savvy accountant and legal advisor to stay compliant and maximise your returns.

5. How to Rent Out Your Property Without an Agent

Self-managing your rental gives you full control and can save thousands annually. Here’s how to do it right:

Know Your Property’s Rental Value

• Research similar properties in your area

• Use online rental appraisal tools or seek a professional valuation

Create a High-Impact Listing

• Take clear, well-lit photos of each room and outdoor areas

• Write a detailed description highlighting features, upgrades, and location benefits

• List your property on major platforms like realestate.com.au and Domain

Screen Tenants Thoroughly

• Check references and verify employment and income

• Review rental history and cross-check with tenancy databases (e.g. NTD, TICA)

Draft a Legally Compliant Lease Agreement

• Include rent amount, bond details, lease duration, pet policies, and entry rights

• Use your state’s standard tenancy agreement template

Complete a Condition Report

• Document the condition of every room with photos and notes

• Have the tenant sign the report before moving in

💡 Managing your own rental can save you 5–12% in agent fees—often over $1,500 per year.

Ready to Become a Self-Managing Landlord?

With the right preparation, renting out your property privately is not only achievable—it’s empowering. You’ll enjoy:

• Full control over tenant selection and lease terms

• Significant savings on property management fees

• Direct communication with tenants for faster resolutions