Self-managing a rental property can feel like a sensible way to stay in control and reduce costs. For some landlords, it works well. For many others, however, the hidden risks only become visible when something goes wrong, and by then, the financial impact can be significant.
At Oakwood, we regularly step in after issues have already escalated. In most cases, the problems aren’t dramatic or intentional; they’re the result of small oversights that quietly compound over time.
Paperwork Issues
One of the most common mistakes we see is incomplete or outdated paperwork. Compliance requirements have expanded considerably in recent years, and missing a single document, such as the correct version of the “How to Rent” guide or an up-to-date safety certificate, can severely limit a landlord’s legal options if a tenancy needs to be brought to an end. What feels like an administrative detail can quickly turn into months of delay and legal costs.
Maintenance Problems
Another frequent issue is delayed maintenance. When landlords are managing repairs themselves, it’s easy for minor issues to slip down the priority list. Unfortunately, what starts as a small repair can soon become a bigger problem, particularly during winter months. Delays also increase the risk of tenant complaints or local authority involvement, both of which can be costly and stressful to resolve.
Rent Reviews
Rent setting is another area where self-managing landlords often lose out, sometimes without realising it. Pricing a property too cautiously can mean thousands of pounds in missed income over the course of a year, while overpricing can lead to longer void periods and higher tenant turnover. The balance is more nuanced than many realise and needs regular review.
Documentation
We also see problems arising from poor record keeping. As the sector moves towards evidence-based enforcement, informal agreements and missing communication records can put landlords at a disadvantage during disputes. Clear, consistent documentation is no longer optional, it’s essential.
Human Relationships
Finally, there’s the human factor. Managing your own property often means managing emotions as well. Difficult conversations around rent arrears or breaches of tenancy can be uncomfortable, and decisions made emotionally rather than professionally often prolong issues rather than resolve them.
Let us Help
Self-managing doesn’t automatically mean doing everything alone. Even a periodic compliance review or rental appraisal can prevent small issues from becoming expensive ones.
If you’re self-managing and would like reassurance that everything is compliant and up to date, Oakwood offers a no-obligation landlord review. It’s a simple way to identify potential risks before they become costly issues.
📞0161 941 4228
