Property owners, we’re answering your question… can I rent out my house, by myself?

An interesting question arose in a meeting with one of our clients, recently. She’s new to the property market and is getting ready to buy a home. It’s just around the corner from the house she lives in, so it’s the perfect investment opportunity.

Date:

19-Sep-2019

Category:

Lifestyle

Tags:

Author:

Amanda Smith

Property owners, we’re answering your question… can I rent out my house, by myself?

An interesting question arose in a meeting with one of our clients, recently. She’s new to the property market and is getting ready to buy a home. It’s just around the corner from the house she lives in, so it’s the perfect investment opportunity.

She logically asked: “Can I just rent it out myself? I’m going to be close by, so I can handle it.”

It makes sense, and yes, she can do it herself. But should she? In our professional opinion as real estate agents, we strongly recommend against it.

At First National 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 property manager.

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… and this is okay. 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.

First National Nitschke, part of your family.

If you live in the Adelaide Hills, you might already know the faces who make up the Nitschke property management team. Give us a call on 8391 5004 or fill in this form to book a free 20-minute consultation to discuss your needs.

For award-winning property managers that feel like family.