When you buy an investment property, one of the first big decisions you’ll face is this:
Do I roll up my sleeves and manage it myself (DIY landlord), or hand over the keys to a property manager?
There’s no one-size-fits-all answer. It really depends on your time, experience, and how hands-on you want to be. So let’s break it down: the pros, the cons, and the things people don’t always tell you.
Cost: Saving Money or Spending Smart?
Managing your property yourself (being a DIY landlord) can definitely save you money. After all, property management fees typically chew through 7–10% of your weekly rent, and that’s before we talk about things like lease renewal fees or maintenance mark-ups. If you’re on a budget or just starting out, that’s a fair chunk to keep in your pocket.
But (and it’s a big but) if you’re not familiar with the Residential Tenancies Act or you miss a compliance deadline, those savings can disappear pretty quickly in the form of fines, legal fees, or rental downtime.
A good property manager doesn’t just collect the rent; they can help you avoid costly mistakes and may even get you a higher rental return with their market know-how.
Time Commitment: How Much Do You Actually Have?
Self-managing is a bit like having a part-time job you didn’t interview for. You’ll be handling tenant calls (yes, even the “there’s a leak under the sink” ones at 9 pm), organising repairs, chasing rent, and doing inspections.
Some DIY landlords love being involved in every detail, especially if they’ve only got one property and plenty of time.
But if you’ve got a day job, a family, or more than one rental, managing it all can start to feel like juggling flaming swords. This is where property managers shine. They take those tasks off your plate so you can focus on… well, anything else.
Expertise: Are You Across the Rules?
Let’s be honest: New Zealand’s tenancy laws aren’t exactly light reading. If you’re self-managing, you’ll need a solid understanding of your rights and responsibilities.
You’ll also want to know what’s happening in the rental market: what similar properties are renting for, what tenants expect, and how to keep your property compliant.
Property managers do this stuff daily. They’ve seen it all: late rent, messy disputes, tricky tenants. And they know how to handle it without breaking a sweat (or the law). For many landlords, that peace of mind is worth the fee.
Tenant Relationships and Control: Do You Like Being the Boss?
When you self-manage, you call the shots. You pick your tenants, set the rules, and can build a more personal relationship if that’s your thing. Some owners find this super rewarding. They get to know their tenants and feel more in control of their investment.
But there’s a flip side. Being the go-between in a rent dispute or dealing with property damage can get uncomfortable. Property managers act as the buffer. They’re trained to handle the tough conversations professionally and help keep things smooth and stress-free.
So, What’s Right for You?
Here’s the thing:
If you’ve got time, a good grasp of the rules, and enjoy being hands-on, being a DIY landlord can be satisfying and economical.
But, if you’d rather spend your weekends doing literally anything else, or you just want peace of mind that your property’s in expert hands, hiring a property manager could be your best move.
Either way, it’s about finding what works for you. Your time, your experience, your priorities.
Remember; if you’d to know more about how property managers can save you time and hassle, reach out! Always happy to chat.
Give us a call on 09 630 2655.
