TO SELF-MANAGE OR NOT?
Tales of chaotic residential tenancies and destroyed rental properties abound. Given the supposed carnage, the average punter could (almost) be forgiven for thinking that tenants are simply plonked in rental properties without any oversight at all.
In reality, that’s simply not true. In 2018, Stats NZ put the number of rented houses in New Zealand at 625,900 and the vast majority of the tenancies within them take place in relatively orderly fashion.
That’s because any good landlord knows that purchasing a rental property is just the first step in the investment. After the initial purchase come the joys of running a rental property. This involves everything from tenant selection and management to regular maintenance and repairs.
Key to the success of an investment is effective property management. But there are different schools of thought when it comes to the best approach for investors to take when it comes to managing their properties. One is self-management, while the other is employing a property manager.
While the property management industry has come in
