Advice whether self manage or using PM

[vanvir]

Dear all,we need your advice on how to manage tenants in NSW.It's our first time.
It's 1 house and 1 granny flat,already have seperate meters.In main house,we divide it into 2 seperate area where we can rent them to 2 different family 2bed 1bath each.granny flat 2 bed 2 bath.

Now is it better to use PM,if yes any advice who to use?or better self manage?any sample tenant agreement we can use?if we self manage,we will move to granny flat so we can closely manage the tenants. Many thanks in advance.

 

[Jamie M]

I've done both and would suggest a PM.

Self managing is easy peasy when things are going right - but when you have issues with tenants, need to fill a rental, etc it becomes a pain....too much work. You also have to be up to speed with tenancy legislation in the state the proeprty is in. You've also got two dwellings - so added complexity IMO.

I'd go a PM.

Cheers

Jamie

 

[Perp]

In main house,we divide it into 2 seperate area where we can rent them to 2 different family 2bed 1bath each.

Is this split legal, i.e. approved by Council? If not, no reputable property management company should take you on, anyway.

 

[Scott No Mates]

any sample tenant agreement we can use?if we self manage,we will move to granny flat so we can closely manage the tenants. Many thanks in advance.

Fair Trading

The last thing that the tenants would want is the lack of privacy from overzealous neighbours/owners - this will make it harder to lease out.

 

[Salvatore1]

Hi Vanvir, the questions you are asking, indicate you are not ready to manage yourself.

 

[NPB]

if we self manage,we will move to granny flat so we can closely manage the tenants. Many thanks in advance.

 

[vanvir]

Thanks for your reply.I guess i will be rent them.room by room and staying in granny flat to manage them.