I've just bought my first property (IP) and was thinking about having a go at managing it myself to save on fees' etc. I figure the more money in my pocket, the sooner I'll be able to get myself another one.
I was going to go through a PM, however I bumped into a friend of mine last night who was enquiring about my new house, and how it was going. I told her the expected rent, and she said that she was looking for a place to stay, and would be happy to pay that price.
Of course I know the implications of doing business with a friend.. but I thought that just perhaps it might even go the other way and be a good chance to get into myself rather than manage randoms that I don't know.
A positive of this experience might be that I can call around whenever I want, if theres little jobs I need to do etc etc. A negative however could be that if she gets behind in rent, and expects me to do her a favour by booking up a TAB or something of the like (She told me that there's no way of that happening, as she earns 2k a fornight).
Thoughts and opinions? Has anyone gone through something like this?
I was going to go through a PM, however I bumped into a friend of mine last night who was enquiring about my new house, and how it was going. I told her the expected rent, and she said that she was looking for a place to stay, and would be happy to pay that price.
Of course I know the implications of doing business with a friend.. but I thought that just perhaps it might even go the other way and be a good chance to get into myself rather than manage randoms that I don't know.
A positive of this experience might be that I can call around whenever I want, if theres little jobs I need to do etc etc. A negative however could be that if she gets behind in rent, and expects me to do her a favour by booking up a TAB or something of the like (She told me that there's no way of that happening, as she earns 2k a fornight).
Thoughts and opinions? Has anyone gone through something like this?