Whether you're renting out a property for the first time or you've done it before, the same fundamentals apply: get the property ready, understand your obligations, price it properly, and find the right tenant. Here's the checklist we work through with every landlord before a property hits the market.
Getting the property rent-ready
A clean, well-maintained property attracts better tenants and reduces disputes down the track. Before listing, we recommend a thorough clean, attending to any obvious repairs, and making sure all fixtures and appliances included in the tenancy are in good working order. First impressions at inspection genuinely affect the quality of applications you receive.
Understand your obligations under the Residential Tenancies Act 1997
Victoria's Residential Tenancies Act 1997 sets out the rights and responsibilities of both landlords and tenants, and it's been updated over the years with reforms affecting notice periods, rental increases, and grounds for ending a tenancy. As a landlord, it's your responsibility to be across the current rules — we always encourage owners to at least skim the current legislation or speak with a property manager who stays on top of it.
Minimum standards compliance
Victorian rental properties are required to meet a set of minimum standards covering things like working smoke alarms, adequate locks on doors and windows, and functioning heating in the main living area. These checks should be done before a tenant moves in, not after a complaint is raised.
"A well-prepared property and a clear lease agreement prevent far more problems than they solve after the fact."
Setting the right rent
Pricing a rental too high can leave it sitting vacant, costing you far more in lost rent than a modest reduction would have. We'd rather look at recent comparable rentals in the immediate area — Mitcham, Ringwood, Croydon, Doncaster and the surrounding suburbs all have slightly different rental markets — and set a realistic figure from the outset.
Marketing and screening tenants
Good photography, a clear listing description, and prompt responses to enquiries all help fill a vacancy faster. When it comes to applications, we look beyond just income — rental history, references, and how promptly an applicant communicates all tell you something about how the tenancy is likely to go.
The bond and the RTBA
Rental bonds in Victoria are lodged with the Residential Tenancies Bond Authority (RTBA), not held by the landlord or agent. This protects both parties — the bond is only released at the end of the tenancy once both sides agree on the condition of the property, or by determination if there's a dispute.
Lease agreements and special conditions
A clear, correctly drafted lease reduces the chance of a misunderstanding later. Any special conditions — such as arrangements around pets or garden maintenance — need to comply with the current rules around what can and can't be included in a Victorian residential tenancy agreement.
Ongoing management
Renting out a property doesn't end once a tenant moves in. Regular routine inspections, timely responses to repair requests, and clear communication all help protect your asset and keep good tenants in place for longer.
Work with someone who manages it personally
We handle every rental enquiry directly, which means you're getting direct, consistent communication rather than being passed between different people at different stages of the process.
Thinking about renting out a property in Melbourne?
We're happy to talk through what's involved — no obligation.
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