Landlord Information, Advice & Obligations | Tenancy Check - AU TenancyCheck

Acting as a landlord, whether you're managing one property or several, requires careful planning to ensure you don't haemorrhage both time and money. The following tips and techniques will guarantee you see maximum returns on your real estate.

Acting as landlord for a rental property, whether residential or commercial, includes a number of legal obligations. These regulations are in place so that, should issues with the rental lease arise, both you and your tenant have security.

In 2005 the Australian Securities and Investments Commission (ASIC) estimated that an astonishing 70 per cent of Australian homes were under-insured. Under insurance results from valuing an asset, such as your property, too low to replace in the event it's damaged.

While many investors spend months and even years carefully researching real estate before committing their hard-earned cash, it's not uncommon for the same people to take a much more haphazard approach to property management.

Although a verbal tenancy agreement is permitted, maintaining signed written records of all your important dealings with your tenant affords you both added protection should a dispute arise. However, both forms are legally binding and you may have difficulty in any subsequent Tribunal or Court hearing if you do not have comprehensive written documentation.