QUESTION: I’m buying my first investment property and I would like to be a good landlord. Can you suggest books or websites that advise landlords of their rights and responsibilities.
Also, any info on what to look for when choosing a property manager and the pros and cons of hiring a professional as opposed to doing it yourself? – Geoff, Sydney
ANSWER: Love the attitude. The Fair Trading website www.fairtrading.nsw.gov.au/Tenants_and_home_owners.html has everything you need to know about the legal aspects of being a landlord (in the wittily named “Being a Landlord” section).
It includes all the forms you need and you can download their Tenancy Handbook as a Pdf from there too.
To look at issues from the tenants’ point of view, go to www.tenants.org.au. As for books, I can’t recommend too highly my own modestly titled Ultimate Guide To Buying And Renting Houses and Apartments (available via www.smhshop.com.au).
As far as agents go, use one unless you like the idea of being hassled over dripping taps and monstered over rent rises. And shop around. The best ones will be local to your property and have a similar attitude to tenants as you have (ie, they are not the enemy).
Email your rental questions to rentals@flat-chat.com.au.