DITTRICH
MB Enthusiast
Never mix business and your friends.
It can all end in tears.
Under the circumstances, I would recommend an Agent.
You might think that you have all the angles covered but you aren't experienced.
Okay, you lose maybe 15% of the gross, but they collect the money and deal with the problems.
That 15% isn't really 15% as it reduces your tax liability too.
I have rented property when I worked overseas. I have an agent who attends to the administration. In around 20 years of renting I have had 1 bad tenant and most of the costs were recouped from the deposit.
The risks are yours to mitigate and you may feel comfortable with doing it yourself, but your inexperience with letting property makes those risks higher.
It can all end in tears.
Under the circumstances, I would recommend an Agent.
You might think that you have all the angles covered but you aren't experienced.
Okay, you lose maybe 15% of the gross, but they collect the money and deal with the problems.
That 15% isn't really 15% as it reduces your tax liability too.
I have rented property when I worked overseas. I have an agent who attends to the administration. In around 20 years of renting I have had 1 bad tenant and most of the costs were recouped from the deposit.
The risks are yours to mitigate and you may feel comfortable with doing it yourself, but your inexperience with letting property makes those risks higher.