Find and choose suitable tenants also thoroughly screening them.
Keeping up to date with all tenancy laws, these are constantly changing and something you have to stay on top of.
Maintain the property and organise repairs when needed, including the handling of tenant complaints.
Find suitable daytime and after hours tradespeople eg. plumber, electrician.
Conduct regular property inspections and complete condition report on entry, exit and at inspections.
Handle all monetary transactions including rent payments and receipt and lodgement of rental bonds.
Be able to deal with problematic and malicious tenants, and those who pay late or refuse to pay.
Review and renegotiate rental amounts.
Produce rental receipts for monies paid.
So as you can see, a lot does go into property management.
I will stress if you don’t have the time or don’t think that you will keep on top of this, hire a property manager. Your insurance will be more without one as well.