Legally, you can manage your own rental property in Victoria. However, in 2026, self-management is more complex and carries higher risk than ever before, particularly in Melbourne’s South East.
What does self-managing require?
Successfully self-managing requires getting several areas right. This includes ensuring minimum standards compliance for heating, cooling, and window coverings, completing and correctly storing condition reports at the start of each tenancy, and responding to urgent repairs within 24 hours in many cases. You’ll also need to lodge the bond with the RTBA correctly and promptly, and follow rent increase procedures to the letter.
What are the financial implications?
Self-managing can save roughly $2,500 to $4,000 per year in management fees. However, one VCAT dispute, a missed urgent repair notice, or a non-compliant lease clause can easily cost you multiples of that amount.
The honest reality
Most experienced investors in the South East have decided the risk isn’t worth the savings. The potential for costly errors is significant, and the legislation is constantly evolving. A single mistake can quickly negate any financial benefit from avoiding management fees.
Questions to consider
- What is your capacity to respond to urgent repairs 24/7, including outside of business hours?
- Are you confident in your understanding of current Victorian tenancy legislation and how it applies to your property?
- Have you factored in the time commitment required for property inspections, tenant communication, and administrative tasks?
Talk to KR Peters for a straight-talking appraisal with no obligation.
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Market information is general in nature and reflects conditions
at the time of publication. For advice specific to your property,
contact KR Peters.