Is Self-Managing Your Rental Property Right for You? (2026)

One in three Australian property investors attempt to self-manage their rental. Most give up within 18 months. Not because it's impossible—but because they didn't understand what they were signing up for.

This guide gives you the honest picture: what self-managing actually involves, when it makes sense, and when you're better off paying someone else.

This is Part 1 of our 6-part series on self-managing rental properties in NSW.

Quick Summary

• Self-managing can save $3,500–5,000 annually on a typical NSW rental
• Time commitment: 3–8 hours per month for stable tenancies, 15+ hours during tenant turnover
• You'll need to understand the Residential Tenancies Act 2010 and stay current with changes
• Best suited for organised landlords with 1–3 properties who can respond within 24 hours
• Property managers are still worth it for 4+ properties, interstate investors, or if you value complete hands-off

The Real Cost of Property Managers

Property management fees in NSW typically run 5.5–8% of weekly rent, plus letting fees and extras. Here's what that looks like for a property renting at $700/week (close to Sydney's median):

Note: Costs vary significantly by agency and region. Always get a full fee schedule before signing.

Over a 10-year holding period, that's $35,000–45,000 in management fees—money that could've gone toward your mortgage or next deposit.

What You Actually Get

• Tenant finding: Advertising, inspections, applications, screening
• Lease administration: Preparation, signing, bond lodgement
• Rent collection: Chasing late payments, arrears process
• Inspections: Usually 2–4 per year
• Maintenance coordination: Finding tradies, getting quotes, arranging access

What they typically don't do:

• Make decisions without your approval (you still sign off on repairs over $200–500)
• Respond faster than you could (most have 48–72 hour response targets)
• Care about your property as much as you do (they're managing 100–300 properties)

When Self-Managing Makes Sense

Self-managing works well when your situation aligns with the demands. Consider it if:

You Have the Right Property Profile

• 1–3 properties — Beyond this, management becomes a part-time job
• Property in good condition — Newer or well-maintained properties need less reactive maintenance
• Standard residential — Houses and apartments are straightforward; commercial, share houses, or rooming houses are more complex

You Have the Right Personal Profile

• Can respond within 24 hours — Not necessarily fix things, but acknowledge and action
• Comfortable with technology — Online banking, email, basic apps
• Located within 30–60 minutes — Or have trusted local contacts (tradies, family)
• Can separate business from personal — Tenant relationships need professional boundaries

Your Tenants Are Established

The easiest time to start self-managing is when you already have good tenants in place. You inherit a working relationship without the complexity of tenant selection.

If you're inheriting tenants from a property manager:

1. Introduce yourself properly via letter
2. Provide new payment details (give them time to adjust)
3. Do an inspection within the first month to establish the relationship
4. Review the existing condition report and documentation

When to Use a Property Manager Instead

Self-managing isn't always the right call. Consider professional management if:

You Have Scale

4+ properties — Each property needs 3–8 hours monthly when running smoothly. Multiply that by 4 and you're at 12–32 hours. Add a tenant turnover and you're looking at a genuine part-time job.

Mixed portfolio — If you have residential, commercial, and short-term rentals, the complexity compounds. Different rules, different tenant expectations, different systems.

You Have Distance

Interstate or overseas — You can technically self-manage remotely, but you'll need reliable local contacts for inspections and emergencies. Most remote self-managers find they're paying for a property manager's time anyway—just piecemeal.

More than 60 minutes away — Emergency attendance matters. If your tenant's hot water system fails on a Friday night in winter, someone needs to be available.

You Have Complexity

Difficult existing tenants — If you're buying a property with problematic tenants, let a property manager handle the transition (or eviction). Starting fresh with a clean slate is much easier.

Strata with strict by-laws — Some strata schemes have extensive rules about tenants, pets, renovations. A property manager familiar with the building saves headaches.

Heritage or unusual properties — Properties with special maintenance requirements benefit from professional networks.

You Value Your Time Differently

If your hourly rate is high and you'd genuinely spend that saved time earning more, the maths might not work. But be honest—most people don't actually convert saved PM fees into productive work time. They just keep more of their rental income.

The Hybrid Approach

You don't have to choose entirely one or the other.

Option 1: Letting Agent Only

Pay an agent $800–1,500 for tenant finding only:

• They advertise, screen, and select tenants
• They prepare the lease and lodge the bond
• You take over once the tenant is in place

This reduces your risk on tenant selection (where mistakes are costly) while saving $2,500+ annually on ongoing management.

Option 2: Management During Transitions

Use a property manager during tenant changeover, then take over for the stable tenancy period. Switch back when the tenant gives notice.

Option 3: Start Managed, Transition Later

If you're new to property investment, start with professional management. After 12–18 months, you'll understand the rhythms and can transition to self-managing with confidence.

What Self-Managing Actually Involves

Before you decide, understand what you're taking on.

Monthly Tasks (Stable Tenancy)

• Check rent received (5 minutes, weekly)
• Respond to maintenance requests (1–3 hours, as needed)
• Review bank statements and update records (30 minutes)

Total: 3–6 hours per month

Quarterly Tasks

• Routine inspection (2–3 hours including travel, documentation, follow-up)
• Test smoke alarms
• Review lease terms and any upcoming dates

Total: 4–6 hours per quarter

Annual Tasks

• Smoke alarm compliance check and battery replacement
• Consider rent review (if market warrants)
• Review insurance coverage
• Prepare records for tax return

Tenant Turnover (Every 1–3 Years)

This is where the time adds up:

• Final inspection and bond claim (3–5 hours)
• Property preparation and repairs (varies widely)
• Photography and advertising (2–4 hours)
• Tenant applications and screening (3–5 hours)
• Property showings (2–6 hours total)
• Lease preparation and signing (2–3 hours)
• Ingoing inspection and handover (2–3 hours)

Total: 15–25+ hours over 2–4 weeks

The Skills You'll Need

Legal Literacy

You don't need a law degree, but you need to understand:

• Residential Tenancies Act 2010 (NSW)
• NSW Fair Trading rental guidelines
• Bond lodgement requirements (10 business days)
• Notice periods for entry, rent increases, and termination
• Tribunal process basics

Organisation Systems

You'll need reliable systems for:

• Tracking rent payments and arrears
• Storing documentation (lease, condition reports, correspondence)
• Scheduling inspections and maintenance
• Managing receipts for tax

Communication

Most tenant issues are communication issues. You'll need to:

• Respond promptly (even if just to acknowledge)
• Document everything in writing
• Stay professional when tensions arise
• Know when to escalate vs when to resolve

Making Your Decision

Ask yourself honestly:

1. Do I have 5–10 hours per month to dedicate to this? (More during turnover)
2. Can I respond to urgent issues within 24 hours?
3. Am I willing to learn NSW tenancy law and stay current?
4. Can I maintain professional boundaries with tenants?
5. Do I have local contacts for emergencies if I'm unavailable?

If you answered yes to all five, self-managing is likely worth trying. The savings are real, the control is valuable, and the skills transfer to any future properties. Tools like Propero handle the heavy lifting—condition reports, maintenance tracking, rent collection, and compliance—so you can manage confidently without the spreadsheet chaos.

If you hesitated on any, consider starting with the hybrid approach or sticking with professional management.

What's Next

Ready to self-manage? The next post in this series covers NSW Rental Laws Every Landlord Must Know—the legal foundation you need before finding your first tenant.

Full Series:

1. Is Self-Managing Right for You? (this post)
2. NSW Rental Laws Every Landlord Must Know
3. Finding Your First Tenant
4. Day-to-Day Property Management
5. When Things Go Wrong
6. Tax Guide for Australian Landlords

Sources & Further Reading

• NSW Fair Trading - Renting — Official guidance and forms
• Residential Tenancies Act 2010 — The law itself
• NCAT - Tenancy disputes — Where disputes are resolved