Managing a rental property is more than receiving rent. It means finding good tenants, vetting them, drafting the contract, collecting on time, handling maintenance, keeping accounts and meeting legal and tax duties.
Doing it yourself makes sense if you have the time, live nearby and manage a single uncomplicated property. You save the fee but take on all the operating risk and any vacancy days.
A professional manager charges a fee on the rent in exchange for that work: sourcing and screening tenants, managing the guarantee, collecting, coordinating repairs with vendors, and giving you clear accounts. The value is less vacancy, less arrears and less wear on you.
The question is not only the fee, but what vacancy, arrears or a poorly screened tenant cost you. You can estimate that with our cost of vacancy tool.
Andavo does not guarantee returns or appreciation. General information, not legal or tax advice.