Top 5 Mistakes First-Time Landlords Make—And How to Avoid Them

Becoming a landlord is an exciting step, but it can also feel overwhelming. At Thryve Property, we’ve worked with many first-time landlords in Mandurah who are navigating the learning curve of managing a rental for the first time. The good news? Most common issues are completely avoidable with the right advice and support. If you’re new to property investment, here are five mistakes to watch out for—and how to avoid them.

1. Underestimating the Importance of Tenant Screening

One of the biggest (and costliest) mistakes new landlords make is rushing to fill a vacancy without properly screening applicants. It’s tempting to accept the first person who shows interest, but a poor tenant can lead to missed rent, property damage, or legal headaches.

Avoid it:Use a thorough application and screening process. At Thryve Property, we conduct comprehensive background checks, verify employment and rental history, and assess financial stability to ensure you're getting reliable tenants.

2. Setting the Wrong Rent Price

Setting your rent too high can lead to extended vacancy periods, while pricing it too low leaves money on the table. First-time landlords often base their price on emotion or rough estimates, rather than local market data.

Avoid it:Work with a local expert who understands real-time trends in Mandurah and surrounding suburbs. We provide rental appraisals based on accurate comparisons to ensure your property is competitively—and profitably—priced.

3. Not Knowing WA Tenancy Laws

From bond lodgement to notice periods, WA’s Residential Tenancies Act has strict rules—and first-time landlords often don’t realise they’re non-compliant until it’s too late. A small oversight can lead to fines or tenancy disputes.

Avoid it:Stay informed and seek professional advice. At Thryve Property, compliance is a core part of our service. We manage documentation, timelines, and communication in line with the latest regulations, so you don’t have to worry.

4. Delaying Maintenance and Repairs

Some landlords try to cut costs by delaying repairs or ignoring maintenance requests. Unfortunately, this can damage your property’s condition, upset tenants, and even result in compensation claims.

Avoid it:Be proactive with maintenance. Our property managers schedule regular inspections, respond quickly to tenant issues, and have a network of trusted local trades to ensure repairs are done properly—and affordably.

5. Trying to Do Everything Yourself

Managing a rental property requires time, knowledge, and systems. First-time landlords often underestimate the admin involved in advertising, vetting tenants, handling payments, following up maintenance, and managing disputes.

Avoid it:Let an experienced team take care of it for you. Thryve Property specialises in property management in Mandurah, offering tailored support to landlords who want their investment to run smoothly without the stress.

Final Thoughts

The most successful landlords are the ones who treat their investment like a business—but that doesn’t mean you need to do it all alone. At Thryve Property, we’re here to guide you every step of the way. Whether you’re renting out your first home or building a property portfolio, we’ll help you avoid common pitfalls and thryve in your property journey.

📞 Book a free landlord consultation today📧 Email Alicia at alicia@thryveproperty.com.au🌐 Visit www.thryveproperty.com.au

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