Hire a Property Manager or Self Manage your Rental Property?

In this video, I'll go over a highly debated topic in real estate, "Should Rental Property Owners and Landlords Hire a Property Manager or Self Manage their Rental Property?"

This is a big decision for any landlord or rental property owner, and it is NOT an easy answer... Every property owner has their own set of opinions, goals and obligations. Unfortunately, there is not a Right or Wrong answer but I will share with you some important insight that just might help you determine if you should hire a property manager or do it yourself.

Should You Self Manage your Rental Property?

If you are experienced and comfortable handling the daily demands of operating a rental property and conducting property management management tasks such as:

- Rent Collection
- Tenant Relations
- Property Marketing
- Accounting
- Tenant Screening
- Maintenance
- Legal Compliance

If you feel you can handle all of these management tasks then you may want to DIY Manage.

A few more reasons you may want to Self Manage your Rental Property:

- You'll save money not having to pay Property Management Fees
- You want control over the day to day operations of the property
- You live close to the property
- You have plenty of Free Time & Attention
- Your rental property is your main and/or important source of income

While self-managing can offer greater control and potential savings, it does require a substantial time investment. Property owners and real estate investors should assess their availability, lifestyle, and willingness to commit the necessary time before deciding to self-manage their rental properties.

When to Hire a Professional Property Manager?

If you are new to real estate investing and property management or have limited time & want to truly have passive income, hiring a professional could be your best bet.

Benefits to Hiring a Property Manager are:

- Property managers offer comprehensive services
- Expertise & save you time
- Market your property
- Screen & place reliable/quality tenants
- Handle maintenance
- Property accounting
- Rent collection
- Rental Inspections

Most importantly, property managers save you time and allow you to focus on other things in life such as your full time job, family, growing your rental portfolio, etc.

Each and every property owners goals are different, some will DIY and some will hire a professional.

Either way, I would love to hear what works best for you and what your opinion is!

Helpful Link: "Should You Hire a Property Manager?"
https://www.avail.co/education/articles/should-you-hire-a-property-manager-or-do-it-yourself

Helpful Link: "BiggerPockets"
https://www.biggerpockets.com/blog/property-management-vs-self-management

Subscribe to my channel Jobin where we together learn to Invest, Manage, and Profit from Real Estate Investing. Cheers!

#realestateinvesting #propertymanagement #DIYmanage #hireaprofessional #investmentproperty #rentalproperty

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