DIY Landlord vs. Property Management: What’s the Better Choice?

Thinking of self-managing your rental? Learn the hidden pitfalls and how property managers protect your investment.

Owning and managing property is not just about finding a tenant and collecting the rent each month! It comes with legal requirements, late night maintenance calls and lots of paperwork!  While many start off by trying to self manage, many find it much easier to partner with an experienced property management company that takes care of all aspects of property care.

1. Setting Up as a Landlord

Before you even list your first rental, there’s a surprising amount of groundwork to cover. Becoming a landlord isn’t just about owning property, it comes with responsibility to your tenants as well as legal requirements! 

For first-time landlords, the setup phase can be overwhelming and full of potential pitfalls. One overlooked detail, like an incomplete lease or a missed inspection can be costly.

Our team at Quicklet knows exactly what needs to be done and when. They can streamline this entire process, ensuring you're fully compliant from day one and reducing the risk of expensive mistakes.

2. Expert Tenant Screening

Finding the right tenants is arguably the most important part of owning a rental property. An experienced property manager has the tools and screening processes in place to identify reliable tenants, those who pay on time, respect your property, and stick around.

Landlords who choose to self manage their own properties may not have access to the same detailed background checks or rental databases. One bad tenant can cost thousands in repairs, unpaid rent, and legal fees. Quicklet minimises this risk with tried and tested screening processes.

3. Efficient Rent Collection & Financial Management

Chasing down late payments is awkward, time-consuming, and stressful. Property management companies enforce lease terms and have streamlined systems for rent collection, ensuring consistent cash flow. Many also provide detailed monthly financial statements and year-end tax reports, saving landlords headaches during tax season.

4. Maximising the Value of Your Property - Rent Reviews / Lease Renewals

Have you got your property targeted at the right tenants?  Is it valued at the right market level?  Have you long term tenants in place that you just have not got around putting the monthly rent up?  Property management companies take all these more awkward conversations on, so you don’t have to deal with them.  They understand the local market to ensure your property is positioned correctly.  

Having tenants that you are friendly with is great, but it makes the discussion around rent increases that bit more difficult, leading to landlords missing out on additional rent year on year increases and ultimately devaluing their property investment.  This is particularly relevant over the past few years, where landlords have faced the introduction of new compliance legislation which has resulted in increased costs. 

24/7 Maintenance and Repairs

Repairs and emergencies don’t just happen during business hours. Whether it’s a leaky pipe at midnight or a broken heater on a Sunday, maintenance issues are part of the deal when it comes to being a landlord. 

Finding a team of trusted handymen is not as easy as it sounds.  The right property manager has a vetted network of contractors and handymen ready to go, at pre-agreed rates, so problems get solved quickly and affordably.

Plus, having a third party handle maintenance means tenants can’t manipulate the relationship to get out of lease responsibilities. 

5. Legal Knowledge & Compliance

Legislative requirements and ongoing legal changes can be a minefield! There are strict laws in place to be followed that vary depending on your location within the UK. One wrong move can lead to lawsuits or fines.

Property management companies stay up-to-date on the latest regulations, protecting landlords from legal trouble and ensuring all actions are compliant.

6. Lower Vacancy Rates

Property managers know how to market your property effectively, targeting the right tenants and setting your property at the right price level.  The goal is to fill all vacant properties as quickly as possible. 

They can advise on property upgrades, staging and maintenance improvements that can help enhance your property and attract higher paying tenants.

With professional marketing, high quality photography and potential tenant databases, they can increase visibility and demand for your property, achieving the highest and quickest possible return on your investment.

7. Time Freedom and Peace of Mind 

Most landlords invest in real estate to build additional income or as part of their pension plans, not to become full-time landlords. Whether you own one rental or a growing portfolio, your time is valuable. A property management company gives you the freedom to focus on other investments, spend time with family, or simply enjoy life.

How can Quicklet help? 

We often speak with Landlords, who have managed their own rental properties, before engaging ourselves to carry out the role for them.  The feedback is consistently the same, they tried to do it themselves thinking it will save money but ultimately due to hidden costs, in time, stress, legal risk, and lost rent, can quickly outweigh any short-term gains. 

Quicklet are experienced in managing properties!  We simplify the whole process, and actually increase your return on investment by reducing vacancies, ensuring timely rent collection, and preserving the value of your property.

In short, it’s not just about managing property, it’s about managing peace of mind.

Ready for a Free Valuation?  Fill in the contact form on site and one of our team will be in touch!