Start a rental property management agency

Landlords and investors who own rental properties and want someone else to manage them.

A percentage of weekly rent as an ongoing management fee, plus letting fees for finding new tenants and charges for things like lease renewals. Income is steadier than sales once a rent roll is built.

• Organised, with good record-keeping
• Calm handling of tenant and landlord disputes
• Knowing tenancy law in your state
• Marketing to win new landlords

• A licence or registration is generally required to manage rentals for others, and the rules differ by state and territory
• Rent and bond money must be handled in a trust account under strict rules, so check audit and reporting requirements
• Tenancy laws change and differ by state, so keep up to date to avoid disputes and penalties
• Professional indemnity and public liability insurance
• Buying an existing rent roll can be costly, so get independent legal and accounting advice first
• It takes time to build enough properties to cover your costs

Startup costs are typically estimated at around $10,000 to $40,000, depending on your state, insurance, systems and whether you buy an existing rent roll. Buying a rent roll can be costly, so get independent legal and accounting advice first.

Monthly revenue is typically estimated at around $3,000 to $15,000, depending on how many rental properties you manage. It takes time to build enough properties to cover your costs, so early months may sit near the lower end.

Check whether a licence or registration is required to manage rentals for others, as rules differ by state and territory. Also check trust account rules for rent and bond money, audit and reporting requirements, tenancy law changes and insurance.