Tips & Solutions

Should you manage your investment property yourself?


Property management can be time-consuming

Is it worth managing your investment property yourself? In my opinion, if you have a long-term tenant paying low rent, and you’re happy to keep on top of the paperwork and the legislation, you COULD manage your own investment property. 

However, I warn you, self-managing even a low-maintenance property and an easygoing tenant is time consuming. Also, you could leave yourself open to legal action if you aren’t aware of all your responsibilities as a landlord. So before you write off property managers as too expensive, I’d ask you to consider issues such as:

●  Can you distance yourself emotionally? Can you say no to a tenant’s request if you feel it’s unreasonable?

●  Do you have a comprehensive knowledge of landlord and tenant rights? Do you know what your legal obligations are?

●  Do you have time to attend to emergency repairs?

●  Will you be able to maintain a proper rental ledger and stay on top of arrears?

●  Should you need to attend an NCAT hearing, would you know what to do and would you have the time to deal with it?

While self-managing might appear to be a cost saving, it is likely to cost you more in the long run.

Free Property Management Advice, talk to an expert now!

Are you a landlord looking for advice? Do you have questions about these uncertain times? Changes to the rental market or anything specific to Property Management? Book a one-on-one, obligation-free, consultation with Jaime Pratt, Head of Property Management at Vogue Property Managers.

Book your session now:

With over 20 years of property management experience, Jaime will openly provide advice on improving rental return, enhancing your property, attracting quality tenants and finding ways to alleviate your expenses.