Property owners: Can I rent out my house by myself?
We had a client ask, ‘can I just rent it out myself? I’m going to be close by, so I can handle it.’ It makes sense, and yes, technically she can do it herself. But should she? In our professional opinion as property managers, we advise against it.
At Nitschke, we’ve had clients come to us, seeking help after a situation went awry with a tenant. Miscommunications rent not paid on time, one party overstepping a line… it happens all-too often when a property manager isn’t present. This is the number one reason why every investment home needs a reliable, experienced property management team.
Your property investment requires professional care
Experienced property managers help you navigate the complex, ever-changing world of real estate. With regular updates to legislation, laws and local regulations, it’s difficult to keep abreast with these changes.
This is why property management is a full-time job.
Knowing which forms to fill out…
Adhering to the rules for property inspections…
Vetting possible tenants and preparing agreements…
Negotiation skills and chasing up rent…
It takes a specific skillset that the everyday homeowner doesn’t have. With something as serious as the biggest investment of your life, you want to make sure everything is perfectly in line.
Interrogate the reason why you want to do it yourself. Is it to save money? To learn how to do it? Because you’re interested in it? Most often when we have this conversation with clients, it’s to save money on property manager fees. However, the moment there’s a dispute, either from you or the tenant, you’ll require outside expertise (at a cost). Property managers not only minimise issues from occurring, through their experience, they also diffuse situations quickly.
Tenants feel comfortable voicing their concerns to property managers, especially if the problem is related to the landlord. Having someone to act as a professional bridge between you and your tenants can save time, money, and unnecessary disputes.
A property manager is a valuable resource
Having an expert in your corner, as well as your tenants, helps foster long, fruitful relationships. You’ll never have to worry if you’re meeting the obligations towards your tenant, and vice versa. It’s a small price to pay for the ongoing advice you’ll receive… and happy tenants that help you pay off your mortgage sooner.
If you live in the Adelaide Hills, you might already know the faces who make up the Nitschke property management team. For award-winning property managers that feel like family, please reach out. We’re here to help with all your Adelaide Hills real estate services.
