As a Landlord you are responsible for providing a clean, vacant, and secure property for tenant/s to live in.
Landlords pay for Building Insurance, rates and sewerage expenses, carry out necessary repairs and respect tenant’s privacy. In return Tenants are to pay rent at stipulated time agreed by both parties (i.e. weekly, fortnightly etc), keep the property clean, and inform you of any necessary repairs required.
When self managing, you are required to issue rent receipts regularly, however this is not required if Direct Debit is established, as bank statements will suffice. You may wish to obtain from your bank a deposit book. This will have your account details pre-printed, making the process simple for the tenant that wishes to pay over the counter, and will provide proof of payment for your tenant.