You could certainly manage your rental property yourself if you wish – many people do. But it is not a straightforward matter. The management of residential tenancies is governed by the Residential Tenancies Act 1986 and there are considerable penalties for Landlords who do not comply with the Act. Ask yourself the following questions:
- Do I have a good knowledge of the Residential Tenancies Act 1986?
- Do I have access to full credit check facilities?
- Am I confident in attending Mediation and the Tenancy Tribunal if required?
- Do I have the time to select tenants?
- Do I have the time to carry out regular inspections as required by insurance companies to keep the insurance valid?
- Do I have the correct plans and risk identification processes in place under Health and Safety legislation to be able to undertake maintenance myself (Owners are now legally liable for injury to themselves, tenants and contractors)?
At FaceUP, we believe that knowledge is power. Our Property Management team is dedicated to keeping you safe in the ever changing legal landscape. Our staff are expected to obtain a Level 4 Residential Property Manager Certificate.