Before you manage your own investment property, it is important that you familiarise yourself with the specific legal rights and obligations of both tenants and landlords in your state.

Consider what type of Lease Agreement you will offer, either a Fixed Term Agreement or a Periodic Term Agreement.

A Fixed Term Agreement is set for a period of time and a Periodic Term Agreement is set from week to week or month to month.

Before signing a tenancy agreement you must give the tenant a copy to review. When both parties have signed, the tenant should be given a copy of the fully executed lease within 14 days.

You can upload the signed Lease Agreement onto the RealRenta platform to form part of the Property History Report.

In order to keep a faultless and comprehensive record keeping system, consider using RealRenta to regulate Rental Payments, maintenance requests, rent receipts, records of bond lodgement and refund, inspection sheets and tenant requests.

Make sure that the property is clean and secure before occupancy and that all appliances are in working order and encourage your tenant to use the ReaRenta platform, to lodge all maintenance requests and any other enquiries they may have.

Finding the appropriate tenant is easy with RealRenta , which has Free Advertising for your Property on realrenta.com.au and also gives you access to some of Australia’s most popular real estate sites, like Realestate.com.au (Free for paid users).

High risk tenants will often target private landlords, hoping that they will be less thorough than a property manager, however, Bad Tenant Checks can be requested via the RealRenta platform to minimize the possibility of acquiring a recalcitrant tenant.

With ReaRenta, your tenants can pay their rent via Bpay or Direct Debit and the platform will automatically send reminders to the tenant in the case of late payments.

When deciding on a rental figure, inspect as many commensurate properties in the same area, to give you an idea of what the market will deliver.

When you conduct property inspections, you will be able to upload the report onto the RealRenta platform for record keeping and  will form part of your Property History Report.

You can use the Realrenta platform for Free for up to 2 months and see how easy it is use- you will never want to pay high property management fees again.