Micro-Managing Your Property Manager? It’s Time to Consider Self-Managing

As a landlord, it’s natural to want to ensure that your rental property is being well-managed. However, if you find yourself constantly checking in on your property manager, double-checking their work, or feeling the need to be involved in every decision, you might be crossing the line into micro-management. This not only creates unnecessary stress but also indicates that you might already be doing a significant portion of the work yourself. If this sounds familiar, it could be a sign that it’s time to take the leap and start self-managing your rental property.

Recognizing the Signs of Micro-Management

Micro-managing a property manager can take many forms. Here are some common signs:

1. Frequent Check-Ins: Do you find yourself constantly calling or emailing your property manager for updates, even on minor issues?
2. Over-Involvement: Are you involved in decisions that should be within the property manager’s scope, such as maintenance scheduling or tenant communication?
3. Distrust: Do you feel like you need to verify every action your property manager takes because you’re not confident in their abilities?
4. High Anxiety: Does managing the manager cause you stress or take up a significant amount of your time?

If you’re experiencing any of these, it might be worth considering the benefits of self-managing your property instead.

Why Self-Manage?

If you’re already putting in the effort to micro-manage your property manager, self-managing might not be as big of a leap as you think. Here’s why making the switch could be beneficial:

1. Cost Savings: By eliminating the middleman, you can save on property management fees, which typically range from 8-12% of your monthly rental income. This adds up to significant savings over time.

2. Direct Control: When you self-manage, you have direct control over every aspect of your property. This means decisions are made faster, and there’s no need to double-check someone else’s work.

3. Improved Relationships with Tenants: Direct communication with your tenants can lead to better relationships, increased tenant satisfaction, and potentially longer leases.

4. Increased Confidence: As you take on the responsibilities of property management, you’ll build confidence in your abilities, reducing the anxiety that comes with micro-managing someone else.

Steps to Transition from Micro-Management to Self-Management

If you’re ready to make the switch, here are some steps to help you transition smoothly:

1. Educate Yourself

The first step in gaining confidence as a self-managing landlord is education. You need to understand the ins and outs of property management, from legal requirements to tenant relations and maintenance.

Take Action: Start by enrolling in a free landlord class that covers the fundamentals of property management. My free eBook is also a great resource to get you started on the right foot.

2. Set Up Systems

Effective self-management requires reliable systems for tracking rent payments, handling maintenance requests, and keeping up with tenant communications.

Take Action: Consider taking one of my online courses, which guide you through setting up efficient management systems that work for you.

3. Build a Support Network

Just because you’re self-managing doesn’t mean you have to do everything alone. Connecting with other landlords can provide you with valuable advice and support.

Take Action: Follow my Instagram @first_time_landlord for daily tips, inspiration, and to connect with a community of like-minded landlords.

4. Start Small

If you’re hesitant to take on full responsibility right away, start by managing just one aspect of your property, such as tenant communication or maintenance coordination.

Take Action: Gradually take over tasks from your property manager until you feel comfortable managing the entire process yourself.

5. Review Legal Considerations

Ensure you’re familiar with the legal aspects of property management, such as tenant rights, fair housing laws, and local regulations.

Take Action: My online courses include sections on legal considerations to help you stay compliant and avoid costly mistakes.

Overcoming the Fear of Self-Management

It’s common to feel apprehensive about taking on the full responsibility of managing your rental property. However, remember that you’re already doing much of the work by micro-managing your property manager. By taking the leap to self-manage, you can streamline processes, reduce stress, and take full control of your investment.

Take Action: Join my free landlord class to gain the confidence and knowledge needed to make self-managing a success. For ongoing support, connect with me on Instagram @first_time_landlord.

Conclusion

If you find yourself micro-managing your property manager, it’s likely that you’re already doing much of the work of a self-managing landlord. Instead of dealing with the frustration and added stress, why not take the leap to full self-management? With the right resources, systems, and support, you can successfully manage your property, save money, and gain greater control over your investment.

For more tips and resources on becoming a confident, self-managing landlord, visit Landlord Strategy, where you can access my free eBook, free landlord class, and online courses. Follow me on Instagram @landlord_strategy for daily insights and inspiration.