Rental property maintenance: 4 key tips for landlords

When it comes to owning property, maintenance is unavoidable. New or old, there are obligations to be met, and standards to be upheld. We help you navigate the ins and outs of maintenance for landlords with four essential tips. Let’s get into it. 

Each state and territory in Australia has its own laws that set out the rights and responsibilities of landlords, tenants and property managers. 

While these obligations differ depending on where you are, broadly speaking, all landlords need to ensure the property they rent out is fit for living. This means that minimum health and safety standards must be met by ensuring utilities are connected and working, and health risks are addressed and resolved in a reasonable time frame.

Here are some websites  to help you start to learn about your repair and maintenance obligations as a landlord:

As a landlord, you’ll need to keep on top of a range of costs, including council rates, mortgage repayments, body corporate fees (if applicable) and of course, maintenance and repairs. Depending on the age and condition of your property, the amount you spend on repairs and maintenance will vary. 

As a starting point, you may like to consider researching the average price of general maintenance jobs that are required annually and set aside some cash to pay for them. This might include: 

• servicing heating and cooling systems
• smoke alarm inspections
• gutter cleaning
• pest control
• replacing light bulbs.

Then, depending on how old your property is, you might consider an emergency fund for significant repairs and requirements, such as:

• replacing a hot water system
• repairing a leak
• fixing an electrical fault
• replacing an appliance.

Keep in mind, repairs and maintenance expenses for rental properties can be tax deductible. For information on what can be claimed and how, head to the Australian Taxation Office website.

Landlord insurance can help reduce the potential out-of-pocket expense of repairing damage to your home caused by an insured event. Insured events can include incidents like water leaks, impact damage, and vandalism, to name a few.

Some policies even provide cover to help protect your rental income (subject to some exclusions and limitations) if your tenants stop paying rent or leave without notice, while you find a solution for the situation.

As you would with any home insurance policy, remember to carefully check what is and isn’t covered by carefully reading the relevant Product Disclosure Statement (PDS), so that if your ever need to make a claim, there won’t be any surprises.

Documentation and record keeping is essential for all landlords. By maintaining a checklist of maintenance jobs, schedules, payments and receipts, you can ensure that you are doing your best to:

• fulfil your legal responsibilities by proactively planning repairs and seeing them through
• prepare for tax time when you need to claim rental expenses and declare income, and;
• be ready in the event you need to make an insurance claim.