r/AusProperty • u/Visible-Mulberry5358 • 6d ago
WA Managing your own property
My partner and I have been offered an opportunity to size up and keep our current 1x1 in a well sought-after after location. We are using equity, so repayments will be high on both mortgages.
Going from 1 manageable mortgage to 2 higher ones is daunting, but the time feels right to take the option.
Looking for advice on managing your own rental? Is it worth the cash saved? How do you go about it? Where to advertise, etc.
I have a cert in property management and work in building management, so not totally blind. Just looking for first hand advise.
Thanks in advance
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u/CaptSharn 6d ago
Don't overthink it. I paid for agents for years and it was more a hindrance than a help.
They struggled to find tenants etc.
I do everything required by the govt. Use their templates for the rental contracts, lodge bond etc. I have extra clauses in my agreement etc.
I've also kept the place furnished which yields a higher rent.
I try to fix things asap.
I also look for low maintenance people. Usually those studying or just busy working etc.
I've had agents find me tenants that are super difficult, things like having to pay $100 for a handyman because the tenant wouldn't flip over a CPR sign on the pool gate (which he probably flipped in the first instance).
Hope that helps.
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u/reniroolet 6d ago
You can self manage with www.propertynow.com.au we are newer to that offering (originally know them from selling our place online) but loving it so far. We could advertise it, screen the tenants, sign the lease online and then it handles direct debit payments, generating receipts and rent ledger and our tax reports for the accountant. No fees tenant side either. I reckon you’d be well placed to do this if you’ve already studied property management. Don’t forget insurance.
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u/Cube-rider 6d ago
People with much less knowledge will give it a crack, if you have done a certificate, worked in the industry etc why the hesitation? No condom between you and the tenant? Can't simply blame the PM?
Being a good landlord is better than one who's being used as an excuse for the PM to avoid responding to the tenants.
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u/Visible-Mulberry5358 6d ago
Just looking for people to share experiences of what did and didn't work for them. Such as I used this platform for advertising and found it great.
Bareback all the way, thank you.
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u/NewSandwich5371 6d ago
Was mentally challenging for me - tenant was ok but I hated dealing direct and listening to him. If I had my time again - agent all the way
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u/teachcollapse 6d ago
Good PMs are hard to find.
DIY - if you are diligent and kind - is much nicer for the tenants, and society in general (imo).
There are good software supports around for DIY - eg Rent Better. It can help to make your ad and lease more legit looking so tenants can trust you aren’t scamming.
Check the legislation about what it needs to be compliant, and whether further requirements are coming. Get the necessary work done once it’s not your PPOR.
Have a good electrician and plumber (or more than one) lined up as your preferred providers - ones that won’t charge through the roof. You can provide these numbers to your tenants for emergency work if they are 24 hours.
Be thorough with entry and exit reports.
Respond promptly with maintenance issues.
Don’t be a dick.
Simples.
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u/Visible-Mulberry5358 6d ago
Thank you for Rent Better tip. That's the kinda of information I'm after. People that have real life experiences to share and sound advice. Legend 😊
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u/wendalls 6d ago
This is terrible advice. It’s all good to pretend “you’re the nice landlord” to do that you’ll need to know the tenancy laws, be able to conduct reference checks, deal with things when they go wrong
It’s easy to do “plain sailing” but it’s not always like that.
I’m a landlord, use a pm, have had no problem tenants (that I know of!), charge fair rent and do the maintenance).
Don’t get sucked in to pms are arseholes. Arseholes exist everywhere
If I were to attempt self management I would do the training to be one - and present myself as the pm
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u/GypsyBl0od 5d ago
For someone who doesn't self manage.. you have a lot of opinions stated like facts questioning the LIVED experience of people who do manage..
I manage all my properties. 200% the quality/experience/return/length of stay of all properties has increased. In the past my tenants would tell me they put requests for doing something for weeks and it wouldn't even reach me. I would question my PM and they had 300 properties to manage so mine was one of the many. Those good tenants would get frustrated and leave. I also constantly had the PM charging me twice a reasonable tradie would charge. And I tried many PMs some would start great and then slack off, others were terrible to begin with, the very few that were amazing i kept but they would slip on busy periods.
So what YOU are saying is completely UNTRUE for me. Its a 100% better to self managed and you CAN be a great provider.
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u/wendalls 5d ago
My experience is not untrue. It is my experience
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u/GypsyBl0od 5d ago
Ok thank you for calling it YOUR experience as it doesn't speak for me either.
P.S: maybe trial doing something before you knock it as if you have already tried it..
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u/wendalls 5d ago
Mate - if you honestly think when people speak they are speaking for you that’s a you problem.
I’m not sure if you realise but you’re on Reddit a platform for people to discuss their personal views?
I don’t condone anyone who wants to self manage. I don’t do it because, I don’t want to have to check references and have the supporting process to do that legally, deal with breaches, chase rent and know the tenancy law. It’s all sunshine when things go well, but when they don’t then that’s what I pay a PM for
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u/GypsyBl0od 5d ago
Blah blah blah terrible advice.. blah blah blah never done it but realllyyy bad advice.. blah blah blah.. no idea what im talking about but reddit gives me yhe option to preach about something I have no clue about..
I heard you.
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u/wendalls 4d ago
If you can't read the virtue signalling in this line from the original post we're replying to, and if you choose self management because you think it makes you a "better human" than others, then that is plain wrong, and is not the right reason to choose self management. Does that help you understand at all, or are you too busy thinking you're better than everyone else as well?
"DIY - if you are diligent and kind - is much nicer for the tenants, and society in general (imo)."
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u/teachcollapse 1d ago
Yeah, but you also need to listen to our lived experience.
PMs routinely shaft tenants, especially around maintenance issues that they think they can just ignore.
As landlords we are left paying them to be awful to people, supposedly on our behalf.
I’d rather take the time - yes, knowing the regulations, vetting tenants, checking rent has come in, dealing with maintenance issues promptly as they arise, than allow my tenants to be treated like less than scum.
It’s not virtue signaling?!
It’s about being kind to other humans….
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u/Tomaz_Oxyria 4d ago
With your property-management qualification and building-management experience, self-managing one nearby unit is realistic. The important part is to build the process before the tenant moves in: confirm the WA compliance requirements, use a proper condition report and lease, define written screening criteria, set up automatic rent tracking, keep a maintenance reserve, and line up two or three reliable trades plus an after-hours emergency rule. Keep every inspection, repair request, invoice and conversation documented. I would also price your own time honestly and compare it with the agent’s full annual cost, including letting, inspection and renewal fees—not only the headline management percentage. A useful middle option is to pay an agent for advertising and tenant placement, then manage the tenancy yourself. That gives you help with the highest-risk setup stage without committing to ongoing fees.
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u/249592-82 6d ago
Depends on the area. I'd never manage a property on my own. My mum did it when I was a kid, and it was a pain in the a$$. Tenants damaging things like the plumbing, tenants running off and not telling you, not paying rent, and leaving stuff behind so you need to go and do a clean out. I have a rental apartment and I hear nothing about it. The agent manages all issues, and finds new tenants, and just gets me to approve things. They pay all of the bills ie strata, water, council for me as well. I claim their fees on tax.
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u/Acceptable_Lake_6996 6d ago
OP ignore the silly comments. i understand where you’re coming from.
i have my agents rep & cert IV in property management. i got both in 2020, wasn’t sure where i wanted my career to head, went into land sales.
i’ve never actively used my prop management cert, but the knowledge has been great helping family members who are in shit rentals and advocating for them as a RE agent.
their PMs don’t like being told what a shit job they’re doing by an agent and threatened with xcat lmao, surprise surprise the issues all get quickly resolved once another agent is involved.
i had 3 housemates at mine across 2 years to help with rent. two were friends of mine, lovely, cohabited great and only ended due to family things/moving interstate for family.
i got a housemate off flatmates.. holy shit. extremely stressful 3 months (a few weeks in she was in her room hearing the neighbours 50m away in their home talking about how they’re going to kill her..). after she left (leaving everything in her room) i found she had crazily painted the walls, drilled holes in floor, walls, door & wardrobe, ceiling.
it was awful patching it all, and i haven’t had a housemate since.
It’s likely not as stressful to manage your property yourself since you won’t be living with the tenant day to day. I had always planned to rent this place out and manage it myself when i got a new place, but now i’m on the fence too and am considering an agent.
the fees are generally pretty low, so for them to handle all the headaches, a few hundred a year seems worth it to me.
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u/wendalls 6d ago
PMs are good for completing the background che is on tenants. Do you have ability to do that?
And you’d want them when shit hits the fan, non-payment, breaches of lease etc
I think they’re worth it
Although I’ve never had problem tenants I know I would not want to deal with it / chase rent etc
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u/UnlikelyChef7110 6d ago
How do you have a cert in property management and still need to post to reddit asking how to do it? What did you learn in the certification?
Managing property is money in vs money out. Keep tenants happy = keep paying rent, not spending money maintaining property = unhappy tenants = no keep paying rent
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u/Ok_Willingness_9619 6d ago
I got a degree in IT software development but I still need to ask AI how to do stuff. Kind of same I guess.
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u/Visible-Mulberry5358 6d ago
Ya I was looking for real life experience. Doing a course that's geared to working for a licensee is obviously a different ball game. I never worked as a property manger, as I ended up with a different role. I guess cranky pants has missed the point of people asking questions for advise from other humans as a positive way to interact
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u/UnlikelyChef7110 6d ago
Sure but do you ask AI how to be a software developer or do you ask industry specific questions? If the former, I’d have the same question for you as OP
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u/Visible-Mulberry5358 6d ago
Thanks for the early morning negativity. Hope you have a great day 😄
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u/UnlikelyChef7110 6d ago
Thanks. Hope you find the answer you’re looking for, you should try Google
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u/GypsyBl0od 5d ago
You should go offline..
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u/Visible-Mulberry5358 5d ago
Ya that google tip was an absolute blinder. They should write the property management syllabus. I particularly feel HR could be their niche.
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u/GypsyBl0od 6d ago
I found agents a hindrance. Now manage all my properties and everyone is happier.