Self-managing your rental property: understand the responsibilities

Managing an investment property comes with a range of responsibilities. If you self-manage a rental investment property you will be responsible for:

  1. Advertising for tenants
  2. Arranging the lease agreement
  3. Keeping communication lines open between yourself and tenants
  4. Doing repairs
  5. Ensuring rent is kept up to date
  6. Collecting and maintaining data for tax returns.

You may decide to pay a professional to manage these jobs for you – such as a real estate agent. However, it is still important for you to keep a pulse on what’s going on with your investment property. This way you will have confidence to make future decisions about the direction you want to take with your investment.

Thinking of investing in property? Talk to one of our lending specialists today to find out more about our great home loan rates. Visit your local branch or phone 13 14 22.

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* Based on a $150,000 loan over 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.