Self-managing an investment property might seem like a clever way to cut costs.
But for many landlords, it’s a false economy.
On paper, it looks like you’re saving on agent fees. In reality, the financial risks, time demands, and emotional toll of DIY management can stack up fast. Here’s what landlords in Hurstville and surrounding suburbs need to consider before going it alone.
The Hidden Financial Costs
The biggest misconception around self managing an investment property is that it saves money. But here’s what often gets missed:
- Missed rental increases: Without up-to-date market knowledge, many landlords undercharge. That’s income lost every single week.
- Tenant screening slip-ups: Poor screening can lead to unpaid rent, damage, and lengthy tribunal disputes.
- DIY maintenance misfires: Trying to save on tradies can lead to bigger issues. That leaking tap? Now it’s damaged cabinetry.
- Non-compliance fines: Smoke alarm servicing, pool fencing laws, Fair Trading rules: Miss just one and you could be fined thousands.
One overlooked maintenance issue or fine can wipe out your rental return for the month.
Time Is Money, And Self-Management Takes a Lot of It
How much is your time really worth?
Between answering tenant queries, organising emergency repairs, chasing rent, preparing lease renewals, conducting inspections, and staying across legal updates, self-managing is more than a side hustle. It’s technically a second job.
According to industry estimates, the average self-managing landlord spends over 10 hours a month on property tasks. That’s time you could be spending on your career, family, or even expanding your portfolio.
The Emotional Cost of Going It Alone
Ask any self-managing landlord who’s dealt with difficult tenants and they’ll tell you. It’s not just time-consuming, it’s mentally exhausting.
- Chasing late rent.
- Dealing with conflicts.
- Managing repairs when you’re away on holidays.
Over time, that stress adds up. And its effects can be felt beyond your investment. It spills into your personal life.
Compliance Is Complex and Constantly Changing
Many landlords don’t realise how often rental legislation changes, and how easy it is to actually miss your mark on compliance.
As per the NSW Government website:
“All landlords, including self-managing landlords, must make sure they follow residential tenancy laws. This includes reading and understanding the Landlord Information Statement before entering into any tenancy agreement.” (NSW Government)
Even simple mistakes, like mishandling a bond, using the wrong lease form, or failing to install working smoke alarms, can lead to big penalties or tribunal action.
A Property Manager Doesn’t Cost; It Pays
A great property manager doesn’t just “handle the basics”. They improve your returns.
At Mclaws Property, we’ve helped countless investors across Hurstville and surrounds:
- Increase rental income through strategic rent reviews.
- Avoid vacancies with proactive leasing.
- Keeping the standards followed with services like annual smoke alarm inspections (85% of our clients are already using this).
- Maintain tenant relationships with consistent, clear communication.
- Keep your investment running smoothly without daily involvement.
Our landlords get peace of mind, reliable cash flow, and more time to focus on their goals.
Don’t Risk It. Let Us Handle It.
Self managing your investment property might seem cheaper up front, but the long-term costs, financial and emotional, can be steep.
At Mclaws Property, we take the stress off your plate while helping you get the most from your investment. From tenant screening and rent collection to routine inspections and compliance, we’re your trusted partner in property.Let us help you manage your property the right way. Contact us today.