Landlord Rights and Responsibilities (Property Management)

Becoming a landlord comes with many rights and responsibilities, some common sense but others are more complex and have legal implications

With the rental market booming and television glamourising property portfolios, new landlords are jumping into the business without a full understanding of the role.

Don’t get caught unaware, do your research first.

If you’re a seasoned veteran when it comes to renting your property these are likely things you already know. Yet new or potential landlords may not be aware of four basic rules.

  1. Remember, its business and nothing personal

    Several scenarios such as late rent or damage caused often make being a landlord tough at times. It is important to leave any emotional attachment to your tenants and the property behind and focus on the business arrangement you have.

  2. Always have a lease

    Your lease agreement is designed to protect you and your property and it will clearly state the legal responsibilities of each party. Never let a tenant move in without one.

  3. Check out your tenants

    It is always important to ensure you set a standard for the type of tenants you want living in your property. Check references and employment details for every tenant on the application.

  4. Know your rights and responsibilities

    Being a landlord comes with certain legal requirements (these will vary in different states and territories) and it is worthwhile researching exactly what you are getting yourself into firsthand. From lease dates and notices, seeking legal advice to simply, smoke alarms and electrical checks, landlords can be imposed hefty fines if they don’t comply.

Before you take the plunge learn more information by following the links below:

References

  1. For Landlords ( qld.gov.au)
  2. Renting - Information for tenants and landlords on renting ( fairtrading.nsw.gov.au)
  3. Landlords rights and responsibilities ( qld.gov.au)

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