Property management basics: An introduction to managing a rental property
Effective property management is essential to a positive rental experience for both landlord and tenant.
Manage your properties well, and you can expect happy tenants, minimal void periods, and increased rental income. Manage your properties poorly, and you could be looking at higher tenant turnover, unnecessary stress, and potential fines for non-compliance.
In this guide, our private rented sector experts explore the benefits and considerations of each type of property management to help you decide which one is right for you.
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What is property management?
Property management for landlords refers to the day-to-day operation of a rental property. This covers everything from finding tenants and collecting rent to property maintenance and repairs. It also includes ensuring you are compliant with all laws and regulations relating to your specific rental properties.
What are the different types of property management?
When it comes to managing property, you have two main options: self-management or outsourcing to a letting agent or property management company. Which option is right for you depends on your personal circumstances and preferences.
Self-managing a rental property
Self-management entails dealing with all aspects of your rental property yourself, from marketing through to check-out inspections and everything in between. It can be a great option if you live near your rental properties, are proficient in maintenance and administration, or are looking to streamline costs.
Benefits of self-managing a rental property
- You’ll save money. Self-managing means you get to keep the 12-20% of your rental income that a letting agent would charge to manage your property.
- Tenants are most satisfied with independent, self-managed landlords, according to our latest research on tenant trends. Eight out of ten tenants rating their private landlord positively, and almost half (47%) saying they are "very" satisfied.
- You’ll have more control. You get complete autonomy over who rents your property, as well as the companies you choose to provide maintenance services.
- You’re not alone. Many of our members use our online guidance and expert advice line to answer questions on how to self-manage rental property. Find out more today.
Using a managing agent for property management
Self-managing rental properties isn’t for everyone.
If you don’t live near your properties, are short on time, or find dealing with tenants or maintenance issues stressful, then you may want help managing the day-to-day. Letting agents traditionally offer two routes for property management services – fully managed, or let only.
If you choose a let-only service, your agent will typically market your property to find prospective tenants, carry out viewings and reference checks, ensure a compliant check-in, and optionally collect rents and deposits.
If you choose a fully managed service, as well as letting the property, the agent will also deal with repairs, maintenance issues, safety checks, tenant communications, and end-of-tenancy services.
It’s important to note that even if you decide to hire a letting agent to manage your properties, the legal responsibility for compliance remains with you as a landlord. If your agent fails to comply with the law, you are still liable for potential prosecutions or fines.
Benefits of using a managing agent for property management
- It can reduce stress. Outsourcing the day-to-day management and maintenance of your rental properties can alleviate any associated concerns.
- It can provide peace of mind. Agents should keep up to date with the complex and ever-changing landlord regulations on your behalf.
- It saves you time. Finding tenants, carrying out right to rent checks, and maintaining properties all take a significant amount of time.
- It may be logistically easier. If you don’t live locally or you travel often, sourcing trusted maintenance companies in emergency situations can prove difficult
Key considerations of self-managing a rental property
With over 160 Acts of Parliament for landlords to keep track of, self-managing rental properties can feel like an added stress. But when done properly, it can save you significant costs and create happier tenancies. Below, we cover the property management basics to help you get it right.
Finding a tenant
Choosing the right tenant is one of the most important decisions you'll make as a landlord. Finding someone who's a great fit for your property starts with asking the right questions, from understanding their rental history and references to getting a sense of their plans and how long they're looking to stay. Take a look at our guide on what to look for when finding a good tenant.
You'll also need to understand your local market to set a fair rental price, which you cannot accept offers over, and ensure your check-in process is fully compliant. Your obligations when finding a tenant cover everything from providing clear, accurate information to prospective tenants, to protecting their deposit through a government-backed scheme.
New to letting? Check out our complete guide to preparing a property to let.
Legal and compliance considerations
There are many legal and compliance considerations when it comes to self-managing a property, from pre-tenancy obligations right through to check-out.
Before the tenancy begins, you'll need to provide key material information, EPC certificates, secure deposits with official government-backed schemes, and conduct right to rent checks. You'll also need to provide tenants with current gas safety and electrical safety records before they move in, and again whenever a further check is carried out during the tenancy.
Leasing and finance
Self-managing rental properties also means managing your tenancy agreements, rent collection, and tax obligations. You’ll need to manage your finances and put aside sufficient money for routine maintenance issues, as well as a rainy day fund for emergencies.
From 2026, you may also be required to keep and submit records of your property income and allowable expenses digitally through government scheme Making Tax Digital. You can find out more about Making Tax Digital and if you'll be affected in our Making Tax Digital guide.
Maintenance and repairs
As a responsible self-managing landlord, you’ll want to ensure your property is safe to live in, maintained to a good standard, and that you comply with all legal requirements regarding inspections.
While regular checks and proactive maintenance help keep your property safe and can prevent costly repairs down the line, emergencies can’t always be avoided. When they do crop up, it’s important to deal with them in a timely and compassionate manner to help reduce the impact on tenants.
It’s helpful to build a local network of reliable, suitably-qualified contractors that you can trust to deal with issues as and when they happen. You can read more about your maintenance obligations as a landlord in our complete guide.
Ensuring you have suitable landlord insurance in place is also essential to protect both your property and your rental income when the unexpected happens. Find out more about insurance options through our partners.
Tenant relations
It’s important to establish clear communication channels with your tenants. Whether you choose to talk via WhatsApp, email, or text, knowing the best method of contact and setting realistic response times will help create a strong tenant-landlord relationship.
Being responsive, positive, and professional in your dealings with tenants goes a long way. Tenants who feel respected and well looked after are more likely to stay long-term, take better care of the property, and raise issues early before they escalate into disputes or complaints. Think of the service you provide as just that, a service, and aim to make the experience of renting from you as straightforward and stress-free as possible.
Set clear expectations early on. When will you be conducting routine maintenance? Who is responsible for tidying the garden? How often are property inspections carried out? All of these questions need to be discussed early to avoid future disputes.
How we can help you manage your rental property
Deciding to self-manage your property doesn’t mean you have to navigate complex landlord legislation alone. Our members have access to a suite of resources and guides, licensing support, and specialist telephone advice from our private rented sector experts.
Not already a member?
Many of our resources for managing tenancies are for members only. To access these and our extensive member discounts, including our FREE expert landlord advice line and FREE property management software, join the NRLA today and be part of our vibrant landlord community.
Property management FAQs
What is the best way to manage a rental property?
The best way to manage your rental properties will depend on your personal preferences and circumstances.
If you live local to your properties and prefer a hands-on approach, self-management may be right for you. If you don’t live nearby, you have a full-time job, or you want hassle-free evenings and weekends, then hiring a letting agent to manage your rental properties might suit you better.
Is it easy to self-manage your own rental property?
Self-managing your properties isn’t always easy. But the process can be made significantly easier by good preparation, clear communication, and strong documentation.
Are landlords allowed to manage their own rental properties in England?
Yes, many landlords efficiently self-manage their rental properties in England, and there is no legal requirement to hire a letting agent.
Has the Renters’ Rights Act made it too difficult for landlords to self-manage a rental property?
No, the Renters’ Rights Act has not made it impossible to self-manage. It has, however, increased the responsibilities of landlords by requiring higher standards of compliance and record-keeping, so it’s important to gain a thorough understanding of the legislation. You can find full details on the the Renters' Rights Act on our Renters' Rights Hub.