DIY Letting Can Cost You Thousands
It starts with good intentions – save money, keep control, and manage your property yourself. How hard can it be?
But fast forward a few months and you’re knee-deep in paperwork, chasing unpaid rent, dealing with repairs, or worse – trying to evict a tenant who knows their rights better than you do. We’re not here to scare you. DIY letting can work. But it’s a lot more involved than people realise, and the cost of getting it wrong? That’s where things add up quickly.
Here’s where self-managing landlords often lose money – even when they think they’re saving it.
Gaps in paperwork
It’s not enough to just have a tenancy agreement. You need to provide a How to Rent guide, protect the deposit correctly, and serve all the legal documents at the right time. If any of this is missed, eviction notices can be thrown out and tenants can claim compensation.
One small gap can cost thousands – and months of delays.
Poor tenant selection
Lettings agents screen tenants daily. They spot red flags and verify details you might miss. Self-managing landlords often rely on gut feeling – and that can backfire if someone isn’t who they say they are or has a history of late payments.
Fixing a bad decision later is much harder than getting it right up front.
Maintenance delays and disputes
DIY landlords often try to save money by delaying repairs or patching things up. But if a tenant reports a problem and it’s not handled properly, they can escalate it to the council – and you could end up with enforcement notices or even fines.
Quick fixes often cost more in the long run.
Emotional decisions
When it’s your old home, emotions can get in the way. You might avoid tough conversations, agree to things you shouldn’t, or hold off on enforcing the rules. Tenants need clarity, not blurred lines – and that only comes with structure and confidence in the process.
Frequently Asked Questions
❓ Isn’t using an agent more expensive?
Not necessarily. A good agent can actually save you money by avoiding voids, finding better tenants, handling compliance, and protecting you legally. You pay a fee – but you avoid a lot of hidden costs.
❓ Can I just use online templates for paperwork?
You can – but if they’re outdated or don’t meet current legal standards, they could leave you exposed. Tenancy law changes regularly. Using incorrect or incomplete forms could make your agreement unenforceable.
❓ What if I only rent to people I know?
It might feel safer, but it’s actually riskier. Personal relationships make it harder to enforce rules or deal with problems objectively. And the law doesn’t make exceptions just because you’re friends or family.
❓ Can I change my mind and bring in an agent later?
Yes – but by then, the damage might already be done. If things go wrong mid-tenancy, an agent can step in, but prevention is always cheaper than the cure. It’s better to get it set up properly from day one.
Self-managing sounds simple – but it can get expensive fast
There’s nothing wrong with taking control of your own let. But it’s a business decision – and needs the same level of planning, structure, and protection as any other investment. If you’re thinking of going it alone, we’re happy to run through what to expect – or take it off your hands completely.