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Outsource or in-house – property management for investors

30 NOV 1999 • By Phillip Tarrant • 3 min read • Investor Strategy

Do you have the time or inclination to manage your investment property?

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A key element of long term successful property investment lies in the management of your property.

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Finding good tenants is essential for any landlord, but keeping them happy can be a challenge. Successful property management is not just down to collecting the rent on time, it’s also ensuring the property is well maintained and that problems are dealt with in a timely manner.

The question is: do you take the job on yourself or bring in the professionals?

 
 

Benefits of doing it yourself Without doubt a major draw card for self-managing your property is that you will save money as agents typically charge around five to seven per cent of the monthly rent for their services.

If you live within close proximity to your investment property you may also feel that you’d like to build a personal relationship with your tenants and be available to fix problems when they arise.

If you own a new house or unit there is likely to be less need for maintenance, or if you’re a dab hand with a hammer and saw you may be able to keep costs down on repairs on an older property.

Benefits of an agent But not every landlord wants to deal directly with their tenants and many prefer to hire a property manager.

Some landlords may feel uncomfortable negotiating increases in the rent whereas a property manager can remain detached. A property manager is also likely to be more familiar with market rental rates, which can be reassuring for the tenant when pushing up the rental price.

In addition, a property manager will ensure that there is a structured process to regular inspections, which can help reassure tenants that their interests are also being considered.

And when your tenants decide it’s time to move on, a professional is likely to have access to a bigger pool of potential tenants – which could mean cutting down the time that your property lies vacant.

If you’re seeking a good manager for your investment property, we have some great relationships with local agents, so give us a call.

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RELATED TERMS

House
A house refers to a building or property used as living quarters or an individual’s place of permanent or temporary residence.
Property
Property refers to either a tangible or intangible item that an individual or business has legal rights or ownership of, such as houses, cars, stocks or bond certificates.
Phillip Tarrant

Phillip Tarrant

AUTHOR

Phillip Tarrant is one of Australia’s leading property commentators, with more than a decade at the forefront of conversations shaping the nation’s property investment market.

As the long-time host of the Smart Property Investment Show and a regular commentator across property, finance and business, Phillip has interviewed thousands of investors, economists, advisers, brokers, agents and industry leaders, giving him a unique perspective on the trends, policies and market forces influencing Australian property.

Beyond property commentary in the media, Phillip is an active property investor himself, with first-hand experience building and managing a diversified property portfolio across multiple markets and cycles. His insights combines this practical investor perspective with deep exposure to the broader property and financial services ecosystem.

Phillip is also CEO and co-founder of Managed, an Australian property payments and technology platform transforming the way property managers, landlords and tenants manage rental payments and property transactions.

Through his writing, podcasts and industry engagements, Phillip focuses on cutting through market noise, challenging conventional thinking and helping investors make more informed, strategic decisions. His commentary regularly explores property markets, lending, taxation, regulation, investment strategy and the changing dynamics of Australia’s housing sector.

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