Tenant Troubles: The Risks of Renting to Friends – Pt2 with Bob Provan

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In this episode of Property Investor Tales with guest Bob Provan, we delve into the complexities of self-managing rental properties, particularly when friendships are involved. Bob shares his personal experiences with renting to a friend, the challenges that arose, and the lessons learned about the importance of professional property management. From the emotional and financial burdens of self-management, to the complications of tenant relationships, Bob had the decision to transition to a professional property manager. Through our experiences, we’ve seen that there is a need for education and support in the property investment journey and I hope this episode can help all investors learn a thing or two.

02:55 – The Decision to Self-Manage
05:50 – Navigating Friendships and Business
08:53 – The Complications of Housemates
12:03 – Lessons in Professional Property Management
15:01 – Handling Tenant Issues and Repairs
18:04 – Transitioning to Professional Management
20:57 – The Aftermath of a Troubled Tenancy
24:42 – Navigating the Challenges of Property Management
30:39 – Lessons Learned from Property Investment
35:37 – The Importance of Outsourcing and Professional Help
40:40 – Understanding the Landlord-Tenant Relationship
45:01 – Finding the Right Property Manager