At some point, every landlord is faced with the same question. Do you take control and manage everything yourself, or do you hand the reins to a letting agent and buy back your time? It sounds like a simple choice, but it can make a big difference to how smooth, profitable, and enjoyable your investment journey turns out to be.
Good property management is what keeps tenants happy, protects your investment, and ensures your returns stay consistent. Whether you own a single buy-to-let or a growing portfolio, how you choose to manage it affects everything from compliance and maintenance to stress levels. In this article, we’ll look at both options, compare what’s involved, and help you decide which approach fits best with your time, experience, and long-term goals.
What Does Self-Managing a Property Involve?
Self-managing means you take full responsibility for running your property day to day. From finding tenants and collecting rent to handling maintenance and keeping up with legal standards, every part of the process sits with you. For some landlords, that level of control is appealing, especially if the property is nearby and they enjoy being hands-on.
The work starts before the tenancy even begins. You’ll need to advertise the property, handle viewings, carry out referencing, and draw up contracts. Once the tenants move in, the focus shifts to managing repairs, scheduling inspections, and making sure rent comes in on time. Staying organised is essential because even small oversights can lead to late payments or unhappy tenants.
Then there’s compliance. A self-managing landlord has to stay on top of everything from deposit protection and EPC ratings to gas and electrical safety certificates. Regulations change frequently, and missing one can lead to fines or legal problems. It’s all manageable if you’re experienced and have the time, but it quickly becomes a second job if you’re juggling other commitments.
What Are the Benefits of Using a Letting Agent?
Using a letting agent can take a huge amount of pressure off your shoulders. Instead of managing viewings, maintenance, and tenant issues yourself, a professional handles it all for you. For many landlords, that peace of mind is worth the cost, especially if they live far from the property or manage several at once.
Agents bring experience that can help you avoid common pitfalls. They know how to market a property properly, screen tenants carefully, and deal with any disputes that arise along the way. They also stay up to date with legal changes, which is vital when it comes to things like deposit handling, safety checks, and notice periods. Having someone manage these details for you can make the difference between a smooth tenancy and an expensive mistake.
There are trade-offs, of course. You’ll pay fees, and you’ll have less direct control over how things are run. The level of service can also vary between agencies, so it’s worth researching and choosing carefully. But for most landlords, especially those short on time, using a letting agent means more consistent management, fewer headaches, and a better overall experience for both you and your tenants.
How Much Do Letting Agents Charge?
Letting agent fees vary, but most charge a percentage of your monthly rent depending on the level of service you choose. A let-only service, where the agent finds and vets the tenants but you handle everything after they move in, is usually a one-off fee. Full management, on the other hand, covers rent collection, maintenance, inspections, and ongoing support, and typically costs between 8 and 15 per cent of the monthly rent.
It’s worth checking what’s included in the price, as some agents add extra charges for things like tenancy setup, renewals, or arranging repairs. Always ask for a clear breakdown before you commit, and make sure you understand how they handle maintenance costs or emergency callouts. Transparency matters just as much as the headline fee.
When you factor in your own time, the cost can seem more reasonable. A well-managed property tends to run more smoothly, with fewer late payments, less tenant turnover, and lower risk of compliance issues. For many landlords, the agent’s fee ends up paying for itself through stability and peace of mind.
What Are the Risks of Self-Management?
Managing your own property can save money, but it also comes with risk. Without the right knowledge or systems in place, even small mistakes can become costly. Legal compliance is one of the biggest challenges, as landlords are responsible for everything from protecting deposits to keeping up with safety certificates and licensing. Missing a requirement, even by accident, can lead to fines or legal action.
Tenant selection is another key area where things can go wrong. A poor referencing process or rushed decision can leave you with rent arrears or disputes that are difficult to resolve. Once a problem arises, it’s your responsibility to handle it, and that can mean chasing payments, managing repairs, or dealing with complaints at inconvenient times.
It can also take a personal toll. Balancing property management alongside work and family commitments often leads to burnout, especially when things go wrong. The difference between a smooth tenancy and a stressful one usually comes down to time, experience, and how well you can stay organised.
Which Option Is Best for You as a Property Investor?
There isn’t a single right answer because the best approach depends on your goals, time, and confidence. Self-management suits landlords who prefer hands-on control and have the time to stay organised. If your property is local and you’re comfortable handling maintenance, rent collection, and compliance, managing it yourself can be rewarding and cost-effective.
Letting agents, on the other hand, make more sense for landlords who value convenience and consistency. They take care of the day-to-day issues, stay up to date with regulations, and deal with tenants professionally, which helps protect your investment long term. They’re especially useful for anyone managing several properties, living outside the area, or balancing other work commitments.
HMO landlords and investors running larger portfolios often benefit most from professional support because compliance standards are higher and the workload heavier. The good news is you don’t have to stick with one approach forever. Many landlords start out managing their own properties, then switch to an agent as their portfolio grows or their priorities change.
Finding the Right Balance for You
Whether you manage your own property or rely on a letting agent, the goal is the same. To protect your investment and keep it performing well. What separates the two options is how much time and responsibility you’re willing to take on. Some landlords enjoy being closely involved, while others prefer to step back and let professionals handle the details.
At Property Elevate, we help landlords make confident, informed decisions about how they manage and grow their investment properties in Leeds. If you’d like advice or support with your next property, get in touch and we’ll help you find the right balance between control, time, and peace of mind.