I could manage my own investment properties but choose not to. The reason is that tenants have a whole bunch of rights and landlords have a whole bunch of obligations that most are probably not even aware of. So, a good property manager can help keep you out of tribunal (or represent you if necessary) and ensure that your interests are protected at the same time. It’s not just money for jam…
Also, even though I have often lined up my own tenants, I always pass the management onto an agent so that I can keep at arms length. I am busy working in my own area of expertise and don’t want to be bogged down with tenant issues (sometimes there can be plenty).
And talk to your accountant, as management fees should be tax deductable. You can also get all the bills directed to the agent and get one annual statement which you just pass onto your accountant. Simple!
For more information on buying an investment property in Sydney go to www.gooddeeds.com.au.
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