Should You Manage Your Own Property or Use a Letting Agent?
It’s a question many landlords ask — especially when they’re looking to cut costs:
Should I manage my rental property myself or hire a letting agent to do it for me?
On the surface, managing your own property might seem simple enough. But in 2025, with new legislation, tenant expectations, and more complex compliance requirements, DIY letting isn’t for the faint-hearted.
At M&P Estates, we work with both self-managing landlords and fully managed clients — so we understand both sides. Here’s a clear-eyed breakdown of the pros, cons, and hidden considerations to help you make the right decision.
Self-Managing Your Property: The Pros & Cons
Pros:
- Cost Savings
- No management fees means you keep more of the rental income — on paper at least.
- Full Control
- You handle everything from tenant selection to repairs, giving you a direct line to your property.
- Personal Relationship with Tenants
- Some landlords enjoy building a rapport with tenants and being hands-on.
Cons:
- Time-Consuming
- Expect to be contacted at all hours, especially when problems arise. Viewings, repairs, legal updates — it all lands on your shoulders.
- Legal Risk
- The lettings landscape is now highly regulated. One missed compliance check (like an out-of-date gas safety cert or illegal fee) can result in fines or even being unable to evict a tenant.
- Emotional Decision-Making
- Some DIY landlords struggle with chasing rent arrears or handling disputes objectively, which can lead to costly outcomes.
Using a Letting Agent: The Pros & Cons
Pros:
- Expert Compliance Management
- A good letting agent will keep you fully compliant with the latest legislation — including EPCs, deposit protection, and tenant rights.
- Professional Tenant Vetting
- Agents have access to robust referencing systems and credit checks that most landlords don’t — leading to better tenant placements.
- Ongoing Property Management
- From handling maintenance and rent collection to mediating disputes, your agent is your buffer. You get your time back — and peace of mind.
- Avoiding Voids
- Experienced agents know how to market your property and reduce vacant periods, keeping your income flowing.
Cons:
- Fees
- Yes, letting agents charge for their services — but the value gained often outweighs the cost. And unlike in the past, all fees must now be transparent and upfront.
- Less Direct Involvement
- Some landlords prefer to know every detail and decision. If you’re one of them, choose an agent who communicates regularly and clearly.
The Hidden Cost of Self-Managing
Here’s the big one that often gets overlooked: mistakes cost money. We’ve seen landlords lose thousands due to:
- Invalid Section 21 notices (because a document wasn’t served properly)
- Failing to protect a deposit correctly (leading to court claims)
- Tenants disappearing with arrears because referencing wasn’t done properly
In most cases, these were avoidable — and would have been caught by a qualified agent.
So, What’s Right for You?
Ask yourself:
- Do I have the time, knowledge, and emotional distance to manage tenants and the property myself?
- Am I confident I understand the 2025 legislation in full?
- What is my time worth — and what could I be doing with it instead?
If you answered “no” to any of the above, it may be time to consider a managed service.
Final Word
Being a landlord doesn’t have to mean being on call 24/7. At M&P Estates, we offer a range of services — from tenant find only to fully managed — designed to suit your level of involvement and experience.
Want to compare self-managing vs. using an agent in real financial terms? We’ll happily walk you through the numbers, the risks, and the returns — no pressure, just clarity.
Get in touch with our lettings team today. Let’s make your property work for you — not the other way around.
