Self-managing a property is when you look after everything to with your property: you find tenants and manage the ongoing tenancy without the aid of a high street lettings agency. Some people, particularly those with a buy-to-let in another part of the country from them, choose to pay an agent to supervise the day-to-day running part of the rental, while others go it alone.

Those who do manage it themselves perceive a number of advantages:
You exercise a greater level of control. Typically a letting agent will be looking after a number of properties and this will limit their time. You, however, have only your properties to worry about and you’ll know exactly what is going on with your investment.
When selecting a tenant, if you’re doing it yourself you might feel more confident that you’ve picked a good tenant who will be responsible with your property.

When it comes to maintaining a property, a letting agency will often have mutually-beneficial arrangements with contractors. If you can manage this yourself, it’s possible you’ll source a more competitive rate.

You, quite possibly, can manage the tenant/landlord relationship better than a letting agent can;certainly you’ll have more control. You can act quickly if things go wrong and if you’re not able to do something, explain why first-hand (translated through a letting agent can sometimes feel more punitive than it actually is).

Save yourself money, by only paying for the things you need.

Having closer contact with your tenants can mean keeping happy, long-term tenants. Even if your tenants are unhappy with something, you’ll know first so you can sort it out.

The downsides:
It all takes time and effort, so if you’ve got a stressful job and you work long hours it could make it more difficult.

It helps to be reasonably close to your rental property - or know someone who is - so you can react reasonably quickly.

Some people may worry about having to deal with possible disputes with their tenants directly, and appreciate an agent as a buffer.

Hassle factor: be prepared for that emergency call. This can happen over the weekend - in, fact, speak to any landlord and they will tell you it almost always seems to happen on a weekend when call-out rates are at their highest - and on holiday.

Lettings agents has experience of protecting your rights as a landlord, though some do this better than others.

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