Managing your own rental property in Victoria involves directly handling all aspects of the tenancy, from finding and screening tenants to collecting rent and organising maintenance.
As of December 2025, while legally permissible, self-management requires a significant time commitment and a thorough understanding of Victorian legislation, including the Residential Tenancies Act 1997 and upcoming changes announced for 2027 regarding minimum energy efficiency standards. Currently in Melbourne, particularly in the Eastern Suburbs where demand for well-maintained family homes is high, prospective tenants often favour properties managed by professionals. This is because of the perceived reliability and efficiency in addressing maintenance requests. Sellers considering self-management should realise that preparing a property for rent – including safety checks, condition reports (typically $300-$500), and marketing – mirrors the preparation needed for sale, though with a different focus. In 2026, a well-presented property with professional photography (around $800-$1,200) will attract higher-quality tenants. Furthermore, the administrative burden of lease agreements, bond lodgement, and potential VCAT proceedings can be substantial. Fletchers’ experience across the Melbourne market demonstrates that consistent, professional management often maximises rental yield and minimises vacancy periods.
Ultimately, while self-management is an option, many Victorian property owners find the expertise and time-saving benefits of a professional property manager, like those offered by Fletchers, to be invaluable.