Whats the pros/cons of self managing buy to let properties?
The upside to self managing properties and tenants are mostly control and direct contact with tenants which can avoid ‘chinese whispers’ depending on how good (or bad!) a letting agent is at dealing with tenant queries. Many self manage to save costs but these are often not as high as landlords think. The downsides are that you are the emergency contact for the tenant, so day/night they will contact you, even on your holidays! You also need to be fully up to speed with letting a property legally from tenancy deposits; gas, electric and fire issues; eviction rules and regulations and local licencing laws, if applicable. If you are going to self manage, then it is essential to be part of a landlord organisation such as NLA or RLA, or accredited by your local authority.
