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I should add that it's not all downsides though. The good thing about self managing is being able to fix problems quickly. Examples: tenant in Melbourne called that the toilet was blocked and I had the issue resolved by close of business. Tenant's father in Perth called at 9pm on a Friday night...

I self manage two properties and I would add to this: know your lease conditions and don't be afraid to issue a written breach notice if your tenant breaches their lease. In my experience, a tenant can be "nice" and look after a place ok until it is time to leave. Then when they leave the...