We have rented from re and from private, and omg the place we lived in that was private was a dream! Everything was dealt thing promptly and was so refreashing being able to talk to the owners directly and not play chinese whispers with a third party.
We payed bond, and was all offical though the bond agency (cant remember the offical name, but we were in Canberra at the time).
Point of this is do it! If we ever find outselves ina position on needing to rent again, ill be seeking private properties and it will make a huge impact on our decision. Plu on the other end, if we ever have an investment property i would.do it myself.
I think the only issue would be location. Are you close to the property? Not to do drive bys, but if they do call with an issue how hard is it for you to go and check it out? That is one advantage to re, they are often closer than you.