People who have a go at managing their own properties soon discover some hard realities. They often come to see us when things go wrong – and of course we are always happy to help!
When it comes to self-management, these are some of the important things that need to be considered:
Could you bring yourself to evict a person or a family?
Would you be able to represent yourself in a tribunal or court and argue a case?
Do you want to be on call with your tenant 24 hours a day?
How do you manage when things go wrong, if you’re away or overseas?
Are you available to arrange and supervise tradespeople at short notice, if required?
How will you be able to verify a tenant’s identification and check if they have a possible defaulting history with a previous rental property?
Are you good at record keeping, dates and keeping a ledger and produce this on request for your tenant?
Do you know the warning signs of a bad tenant, and even the signs of illicit drug production?
Can you access the best landlord insurance should you self-manage?
These concerns are why most property owners choose to have their property managed by a professional agent.
At the end of the day, what you’re really buying is peace of mind for yourself and your family. All agent fees are tax deductible and you can have more quality time spent focusing on other real and more urgent priorities than the day to day management of a rental property.
Managing rental properties professionally is what we do best, so you can focus on what you do best and enjoy life without all the hassles that come with DIY!
