Call 1300 44 55 66
 
Mortgage Broker of the Year
MFAA Approved Broker

Managing your investment property

Managing an investment property generally means finding tenants, gathering rent and arranging maintenance and repairs. You can save yourself a bit of money if you do this yourself, or you can save a bit of time and have an agent do it for you.

If you decide to appoint an agent expect to pay around 5% of the rental income you get from the property. The upside is, once you have signed, there’s little more for you to do. An agent will:

  • Find your tenants.
  • Deal with their day-to-day needs.
  • Provide you with a monthly statement that details all the income and outgoings associated with your investment.

Plus, an agent should know the system inside out – so you don’t have to do a crash course in tenancy laws and requirements.

Find a tenant

Depending on what you decide, either you or the agent will have to:

  • Advertise the property, then interview and reference check the interested parties.
  • Arrange the lease agreement.
  • Lodge the rental bond with the appropriate agency in your state or territory.
  • Get a written report from the tenant confirming the condition of the property prior to the start of the lease.

Deal with the day-to-day

Either you or the agent may also have to:

  • Chase any missed rent payments.
  • Arrange repairs and maintenance.
  • Inspect and authorise any repairs and maintenance.
  • Pay all bills, for example council and water rates and strata fees.

Whether you’re doing-it-yourself or with the help of an agent, take the opportunity to inspect your property regularly. A visit can reveal any potential tenancy or maintenance issues.




Feedback