For others, the time, administration and risk involved make professional property management a much better option.The important question isn't "Can I manage my property myself?"It's "Ismanaging it myself actually the best decision for my property, my time and my finances?"

Managing Your Own Rental Property

There are advantages to managing your property yourself.You remain directly involved with your tenant, you don't pay a management fee to an agency, and you have complete control over decisions involving your property.However, you also take responsibility for the entire rental process.That can include:

• Advertising the property
• Responding to enquiries
• Arranging viewings
• Screening applicants
• Verifying documentation
• Preparing the lease
• Conducting inspections
• Collecting rent
• Following up on late payments
• Handling maintenance requests
• Coordinating contractors
• Managing deposit administration
• Dealing with breaches
• Communicating with tenants
• Keeping proper records

The real cost isn't necessarily the work itself.It's the time, knowledge and responsibility required to do it properly.

Professional Property Management Isn't Just Rent Collection

A good property management service should do much more than collect monthly rent.The purpose is to create a structured process around the entire tenancy.That can include professional tenant placement, screening, lease administration, inspections, maintenance coordination, rental collection and ongoing communication.For a landlord who doesn't want to deal with tenant issues after hours or spend their weekends arranging repairs, that can be extremely valuable.

What Happens When Something Goes Wrong?

Most landlords don't judge their rental strategy by what happens when everything goes smoothly.The real test comes when something goes wrong.What happens when:

• The tenant stops paying?
• The tenant disputes a maintenance issue?
• There is damage to the property?
• A contractor does poor work?
• The tenant wants to leave early?
• The property needs an urgent repair?
• A neighbour complains?
• The tenant disputes a deduction from the deposit?

These situations require more than simply owning a property.They require a process.

Your Time Has a Value

One of the biggest mistakes landlords make when comparing self-management with professional management is looking only at the agency fee.Consider the time involved in managing a rental.If you spend several hours every month dealing with enquiries, maintenance, inspections, payment follow-ups and tenant communication, that time has a value too.Professional management effectively allows you to outsource the operational side of your investment.You remain the owner.Someone else handles much of the day-to-day work.

Professional ManagementCan Also Create Distance

Sometimes the biggest advantage of using a property manager is that the landlord doesn't have to be the person having every difficult conversation.A professional property manager can communicate with the tenant regarding:

• Late payments
• Maintenance responsibilities
• Property access
• Inspections
• Lease obligations
• Breaches
• Renewals

That can help maintain a more professional landlord-tenant relationship.

Which Option Is Right for You?
There isn't one answer that applies to every Witfield landlord.Self-management may suit an experienced landlord who has the time, knowledge and willingness to manage the property personally.Professional management may be more appropriate for an owner who:

• Has multiple properties.
• Works full-time.
• Lives far from the property.
• Doesn't want to handle tenant problems.
• Wants structured administration.
• Wants professional tenant placement.
• Wants someone monitoring the tenancy on their behalf.

The right choice depends on your circumstances.

Your Property Deserves a Strategy

A rental property is an investment.The objective shouldn't simply be to collect rent every month.It's to protect the property, manage risk, minimise unnecessary vacancy and generate sustainable rental income.If you're considering renting out a property in Witfield, it can be worthwhile to calculate the true cost of self-management before deciding whether professional property management makes financial sense.

Thinking About Renting Out Your Witfield Property?
A+ Properties assists landlords with tenant placement and professional property management, helping owners manage the rental process while they focus on their own priorities.

If you're a Witfield property owner and you're wondering whether you should manage the property yourself or appoint a professional, talk to A+ Properties.Let's look at the property, the rental potential and your circumstances—and work out what makes sense for you.