Our Top Advice For First-Time Landlords in Western Australia

Big moment? Yep. You’re officially a landlord. That means rental income, new responsibilities, and probably a few questions bouncing around your brain.

If this is your first rodeo, we’re guessing you’re somewhere between excited and quietly Googling “what does a landlord actually do?” That’s completely normal. There’s a lot to think about — leases, legal stuff, inspections, repairs, tenants, the works.

The beauty is that you don’t need to figure it all out on your own. We’ve helped plenty of Perth landlords get started, stay protected, and keep things running smoothly. So, if you’re chasing a tip or two, here’s our advice for first-time landlords.

1. Get across your legal responsibilities

One of the most important pieces of advice for first-time landlords is to know your legal obligations.

As a rental owner, you’ve got responsibilities under the Residential Tenancies Act 1987, which outlines what landlords need to provide, maintain, and manage when leasing a property. It covers everything from rent increases and bond lodgement to minimum security standards and notice periods for inspections.

And the rules don’t stay still for long. Take a look at the recent changes we covered in our blog on WA’s new rental laws and how to navigate them. Spoiler: there’s a lot to keep track of.

The point is, what you don’t know can cost you. And with new legislation popping up faster than weeds in a summer garden, staying informed is non-negotiable. If all this makes your head spin, a licensed property manager (hi, that’s us!) can help you stay compliant, stay organised, and avoid any legal whoopsies down the track.

2. Budget properly

Owning a rental isn’t just passive income and property price gains. It comes with ongoing costs that can catch you off guard if you’re not prepared.

Beyond your mortgage repayments, you’ll need to factor in:

• Landlord and building insurance
• Council and water rates
• Property management fees (if you go that route)
• General maintenance and emergency repairs
• Strata or body corporate fees (for units or townhouses)

Some of these costs are tax-deductible, which helps. But it’s still wise to build a buffer, especially for things like leaking taps, faulty air con, or surprise plumbing issues (always at 9pm on a Sunday, of course).

Planning your budget upfront helps you avoid the dreaded “cash flow crunch” and ensures your rental stays profitable and stress-free.

3. Don’t guess the rent price

It’s a common mistake we see all the time… picking the price without doing the homework.

Setting the wrong figure can either scare off good tenants or leave you short each month. And in Perth’s current rental market, pricing fairly and competitively is more important than ever.

Start by checking similar properties online in the same suburb. But keep in mind that advertised prices don’t always reflect what properties actually lease for. That’s where a local appraisal makes a big difference.

We offer free rental appraisals that factor in suburb trends, vacancy rates, and seasonal demand. Plus, we’ll help you strike the balance between strong returns and long-term tenant appeal!

4. Choose tenants carefully

Tenants can make or break your rental experience, which is why one of our top tips for first time landlords is to never rush the application process.

A good tenant pays on time, respects the property, and sticks around. A not-so-good one? Well… let’s just say late rent and surprise damage aren’t as rare as we’d all like.

The key is solid screening. That means checking references, verifying income, reviewing rental history, and yes — trusting your gut. Social media can even give you a sneaky peek into how someone lives.

5. Stay insured and prepared

Here’s a non-negotiable bit of advice for first time landlords: get landlord insurance. Yes, even if your place is brand new. Even if you think you’ve found the world’s best tenants.

Things can (and do) go sideways, from accidental damage and unpaid rent to a burst pipe that soaks the carpets while you’re on holiday. Standard building insurance won’t cover those rental-specific risks, but a proper landlord policy will.

Look for coverage that includes:

• Loss of rent
• Tenant damage (accidental or intentional)
• Legal liability
• Natural disasters (this is WA, after all)

Not all policies are created equal, so read the fine print and make sure the cover matches your property type and risk level. It’s a small price to pay for peace of mind and a smoother ride as a landlord.

6. Consider hiring a property manager

Managing a rental can quickly turn into a second job. Routine inspections, rent collection, maintenance requests, tenant communication, legal compliance (it adds up fast).

That’s why one of the best bits of advice for first time landlords is to team up with a local property manager who knows the ropes. We’re talking about someone who can handle the nitty-gritty so you don’t have to.

At Semple, our property management team in Perth does all the heavy lifting:

• Marketing your property and conducting viewings
• Screening applicants and securing great tenants
• Lodging bonds and preparing lease agreements
• Organising maintenance, repairs, and inspections
• Staying on top of rental law changes so you don’t get caught out

We keep you in the loop with clear updates and no surprises. You might live just down the road or a few suburbs away, but your investment property still gets the same care, consistency and zero-fuss management we’re known for.

7. Treat it like a business

You’ve got a rental property now. That means income, responsibility and a whole lot of moving parts. If you want things to run smoothly, you’ve got to approach it like a business.

That means being organised, setting clear expectations, and keeping your paperwork in order. Have a system for maintenance requests. Record everything. Stay polite and professional with tenants, even when things get tricky.

We’re not saying to walk around in a suit with a briefcase. More so just having a mindset that balances fairness with structure. That’s how you protect your property, your time and your long-term goals.

What now? Let’s make it simple

There’s a lot to take in when you’re starting out as a landlord, but it doesn’t have to be overwhelming. With the right planning, a good support team, and a clear understanding of your responsibilities, you’ll be well on your way to a smooth and successful rental journey.

And if you’d rather not juggle it all yourself, we’re here to help. Our team handles property management in Perth with the care, clarity and responsiveness every landlord deserves.

Have questions? Not sure where to start? Contact us for a no-pressure chat and we’ll help you feel confident about your next steps.