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I own a few rental properties.
I fired all my managers and went to self managing.
The results for me:
1. It’s much easier to do than I ever imagined. Email, SMS, mobile phones, internet banking, on-line access to forms and rules etc all make it more possible today no matter even if you are travelling. Apart from when the tenancy changes, it’s relatively easy and straightforward.
2. The tenants like it. They aren’t dealing with a middle person either. Of course you have to deal with their issues prompty and properly.
3. After many, many years of paying managers I’ve realised that when just about any ‘event’ happened, they contacted me to get my opinion/permission. So I had to be involved anyway.
4. You know much more about your tenants and the relationship can be a very good one. And if it’s not, at least you know.
It’s been 3 years now. It was a good decision.