Property Management

5 min read29 Oct 2025

Property manager vs DIY: What’s right for your investment property?

Should you hire a property manager or DIY? Compare costs, time, and control to decide what’s best.

Author: Andrew Nicol

Managing Director, 20+ Years' Experience Investing In Property, Author & Host

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Reviewed by: Tiffany Bracey

Property Manager Team Leader at Opes Property Management Auckland.

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Own a rental property? You might have wondered: “Should I hire a property manager … or just do it myself?”

On the surface, it seems simple.

Property managers typically charge around 8% + GST of your rent.

But if you manage it yourself you save that money, right?

But the decision isn’t just about cost.

Although, just before we get into it, you might think “Andrew, don’t you own a property management company? Doesn’t that mean you’re going to be biased?”

That’s right, as the owner of Opes Property Management I have an incentive to say: “Don’t manage your property yourself. Use a property manager!”

I’m not going to say that. Instead, I will be as unbiased as possible. I’ll explain the pros and cons of DIY vs property managers.

That includes breaking down the costs, time commitment, following the law and tenant quality.

Then I’ll take a step back so you can make the right decision for your portfolio.

Top takeaway

Investors choosing between a property manager and DIY have a lot to weigh up ... And it’s not just about the cost.

The money side: What does each option cost?

Let’s put some real numbers around this.

Say you’ve got a property in Auckland renting for $650 a week.

Property manager	DIY
About $3,500 a year	$500 - $1,500 a year

If you hire a property manager you’ll usually pay about 8% of the rent + GST, plus a letting fee (often one week’s rent) when a new tenant moves in.

Spread that letting fee out over two years: that’s roughly $3,500 a year.

If you self-manage, those fees disappear – but that doesn’t mean managing a rental yourself is free. You’ll still have to pay for:

Advertising your rental on Trade Me: $199–$499 per listing
Tenant credit checks: $35–$55 each
Driving to your rental property for inspections: around $200 a year
Property management software (e.g. myRent): about $19 a month + GST.

So managing your rental yourself is cheaper. It can save you $2,000–$3,000 a year compared with using a property manager.

But that’s just the cash cost; you also need to factor in the value of your time.

More from Opes:

The time factor: How involved do you want to be?

Managing a rental involves more than just watching rent hit your account.

Property manager	DIY
Less than 5 hours a year	30-60 hours a year

Each time a tenant moves out, you’ll need to advertise, host viewings, do the right checks and set up a tenancy agreement. That can easily chew through 8 –15 hours.

Then there are quarterly inspections. If you live nearby the inspection might take a couple of hours, but if you need to drive across the city it could take half a day.

Multiply that by four inspections a year.

Add in organising repairs, chasing late rent and answering tenant questions, and self-managing often takes 30–60 hours a year.

By comparison, with a property manager your role is usually limited to approving quotes and reviewing statements.

Of course, some investors enjoy being hands-on and don’t mind investing the time.

The rules: Making sure you follow the laws

If you manage a rental yourself you’re responsible for staying on top of all the rules and regulations. And there are plenty.

Property manager	DIY
Systems/templates in place Compliance largely managed for you.	You handle compliance: Healthy Homes, bond lodgement, inspections, rent reviews, privacy rules.

Property manager

DIY

Systems/templates in place

Compliance largely managed for you.

You handle compliance: Healthy Homes, bond lodgement, inspections, rent reviews, privacy rules.

Take the Healthy Homes Standards. Every rental property must have records to prove you’ve met the requirements. That’s for heating, insulation, ventilation, moisture, drainage and draught-stopping.

You must also think about the residential tenancies act. For instance:

Bond lodgement. You must lodge the bond within 23 working days
Inspections. You need to give at least 48 hours’ notice. And you must only conduct the inspection between 8am and 7pm. And you can only do it once every four weeks
Rent increases. You can increase the rent once every 12 months per tenancy
Privacy rules. There are limits on what information you can collect from your tenants (and when)

Property managers handle these rules daily and have systems to make compliance straightforward.

DIY landlords can manage too, but if this is your first time managing a property you need to read the rules and pay attention to detail, otherwise it’s easy to get caught out.

Tenants and rent: Finding the right fit

Property managers often argue they can find tenants faster.

That’s because they have a set advertising and screening process and their tenants pay on time more often. They may also negotiate slightly higher rents.

Property manager	DIY
Professional marketing and screening May secure slightly higher rent and longer tenancies Often shorter vacancy	Personal control Build direct tenant relationships Rent may be set a little lower for convenience

Property manager

DIY

Professional marketing and screening

May secure slightly higher rent and longer tenancies

Often shorter vacancy

Personal control

Build direct tenant relationships

Rent may be set a little lower for convenience

On the flip side, DIY landlords often prefer selecting tenants themselves. They enjoy the direct relationship with their tenants.

Many are thorough in their checks.

That said, some DIY landlords are juggling busy lives and often keep rents a bit lower just to avoid the hassle of switching tenants.

Having said that, some DIY landlords take the first tenant who turns up.

They don’t bother doing a credit check or properly contacting the tenant’s references.

Top tools you can use

When DIY makes sense … and when it doesn’t

Managing your own rental can work – in the right circumstances.

DIY works if...	Get a property manager if ...
You live close to your rental, you have spare time, and enjoy hands-on management.	You’re busy, have multiple properties, or live far away from your rentals

If you:

live close to the property
have spare time
don’t mind rolling up your sleeves
don’t mind the paperwork and inspections, and
are up for the odd 9pm call about a leaking tap.

In that case, yes, DIY can save you a couple of thousand dollars a year.

It can also give you more control, which some landlords genuinely prefer.

But for many investors, the reality is different.

If you are:

time-poor
own multiple properties, or
live far away from them.

Then self-managing quickly becomes a headache. Use a property manager.

Managers exist because many investors want to outsource the day-to-day work and reduce stress. They also do it every day so understand the rules better and have a list of preferred tradies.

But that doesn’t mean DIY never makes sense. For some, the savings, control, and personal involvement are exactly what they want. For others, the convenience of outsourcing is worth the extra cost.

The truth is, there’s no one-size-fits-all answer.

So, should you use a property manager?

At the end of the day there’s no universal ‘best’ option.

I personally use a property manager because I think my time is better spent growing the portfolio, not managing it.

But DIY can save money and give you more control if you’re willing to put in the effort.

Property managers cost more, but they simplify the process and reduce your workload.

The right choice depends entirely on your situation, your personality, and how you want to run your investment.

Andrew Nicol

Managing Director, 20+ Years' Experience Investing In Property, Author & Host

Andrew Nicol, Managing Director at Opes Partners, is a seasoned financial adviser and property investment expert with 20+ years of experience. With 40 investment properties, he hosts the Property Academy Podcast, co-authored 'Wealth Plan' with Ed Mcknight, and has helped 1,894 Kiwis achieve financial security through property investment.

Book a session with Andrew View Profile

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Property manager

DIY

About $3,500 a year

$500 - $1,500 a year

Property manager

DIY

Less than 5 hours a year

30-60 hours a year

Property manager	DIY
Systems/templates in place Compliance largely managed for you.	You handle compliance: Healthy Homes, bond lodgement, inspections, rent reviews, privacy rules.

Property manager

DIY

Systems/templates in place

Compliance largely managed for you.

You handle compliance: Healthy Homes, bond lodgement, inspections, rent reviews, privacy rules.

Property manager	DIY
Professional marketing and screening May secure slightly higher rent and longer tenancies Often shorter vacancy	Personal control Build direct tenant relationships Rent may be set a little lower for convenience

Property manager

DIY

Professional marketing and screening

May secure slightly higher rent and longer tenancies

Often shorter vacancy

Personal control

Build direct tenant relationships

Rent may be set a little lower for convenience

DIY works if...

Get a property manager if ...

You live close to your rental, you have spare time, and enjoy hands-on management.

You’re busy, have multiple properties, or live far away from your rentals

So, should you use a property manager?

At the end of the day there’s no universal ‘best’ option.

I personally use a property manager because I think my time is better spent growing the portfolio, not managing it.

But DIY can save money and give you more control if you’re willing to put in the effort.

Property managers cost more, but they simplify the process and reduce your workload.

The right choice depends entirely on your situation, your personality, and how you want to run your investment.