You should get a professional property manager to advertise the rental, screen and select tenants, collect and pay the rent, co-ordinate repairs and maintenance, provide condition reports and manage any disputes if you don’t have much to spare of either. Ask other neighborhood landlords for recommendations for reputable supervisors.

It’s also advisable to conduct inspections that are twice-yearly. Any associated expenses, including travel and accommodation, are taxation deductible.

If you choose to self-manage, you will have to be well-versed on tenancy regulations and ready to organise repairs, including the ones that arise after hours.

We realize every borrower has unique circumstances – and that some tend to be more complex than the others. Read More “Handle your investment. Managing home takes hard work.”