Wombat ,look up the regs in your council area for short term accom , all the info is public. It will be quite clear the min stds on a range of requirements. if you are classed as short term accom , you need to ensure your insurance is in place reflecting that is what they are covering. If you have a regular insurance policy on a res unit, but its being used as short term accom. you probably arent really covered.You will need a landlord package. Being what it is it is probably straight fwd , but best to be sure. Fire code is the scariest of all possible issues.. Just ask the managers how often a fire service comes through to do their fire & safety compliance check . You can check the tag on any extinguisher in the building , that will be dated and needs to be current. Regarding the electrical testing & tagging, its probably not a bad idea to get a sparky in to test the smokies & the rcd's in the sub board just to be sure its all working. you can do it yourself , but may be worth getting the sparky to do it as you will then have his inv as evidence you are proactive in this regard. If there is an issue one day and there is no evidence of ongoing maintenance, then you have a problem. Usually though , nobody goes to the bighouse if they can show they have been proactive with this stuff. short term accom im thinking will be quite straight fwd , boarding houses , geez , the regs on these are epic. good luck.
