Advice needed - self managing IP

[bettedavis]

Hi all

I have a 1 br unit to rent out near Brisbane City areas.

I am considering to manage the IP by myself because I have only one IP and it is also part of a hotel building.

Where do I start? I guess I need te get a rent valuation first. Does a PM or agent do it?

Is there any database that I can look up to check out blacklisted tenants?

Do you normally advertise yours on RE.com.au?

On the other side, do you think it is better to use PM anyway to avoid troubles? Any recommended PM from your experience?

Any other advice will be much appreciated.

Thanks in advance.

 

[russellpeter]

hi bettedavis

I work in the area and before i started my own business i worked in the Brisbane CBD selling Apartments. there is a good chance i have been in your building and probably your floor plan.

Pm me the address and i will let you know the rental Value and can help you out with other areas of self managing if you choose that path.

 

[tvadera]

Hi,

Just make sure you are aware of all the laws, tenant rights, tribunal process, etc.

It would give you more confidence in self managing, also have a tradies team handy (painter, electrician, plumber, etc)

Good luck

Hi all

I have a 1 br unit to rent out near Brisbane City areas.

I am considering to manage the IP by myself because I have only one IP and it is also part of a hotel building.

Where do I start? I guess I need te get a rent valuation first. Does a PM or agent do it?

Is there any database that I can look up to check out blacklisted tenants?

Do you normally advertise yours on RE.com.au?

On the other side, do you think it is better to use PM anyway to avoid troubles? Any recommended PM from your experience?

Any other advice will be much appreciated.

Thanks in advance.

 

[tobe]

Advice? Dont do it.

Start with having it managed, learn the ropes, and take it on yourself later if you still feel so inclined.


What is the best use of your time? talking to tenants and researching relevant tenacy laws, finding affordable tradies etc? or education on investment and finding the next one?

 

[Corey Batt]

What tobe said. Consider the amount you would be paying, then think whether it is worth the hassles and potential legal issues if you are still fairly green and unsure of tenancy laws.

In most cases the convenience of PM's sell's itself.

 

[wobbycarly]

Advice? Dont do it.

Start with having it managed, learn the ropes, and take it on yourself later if you still feel so inclined.


What is the best use of your time? talking to tenants and researching relevant tenacy laws, finding affordable tradies etc? or education on investment and finding the next one?

+1

What tobe said. Consider the amount you would be paying, then think whether it is worth the hassles and potential legal issues if you are still fairly green and unsure of tenancy laws.

In most cases the convenience of PM's sell's itself.

+1

(more random text added here)

 

[bettedavis]

Thanks All

Hi Russell. I sent you a PM.

 

[Anh]

Hi,

I have been self managing for a few years now and although i am still self managing, but i would not recommend self managing as it is quite involved and very stressful at time and you need to understand the rules to do it right.

It is best to engage a good PM who will save you time and energy.

Some good PMs on the forum who might be able to help you out.

Best of luck.

 

[Jtkumnick]

judging from your questions i would hire a PM.