Why “Letting Someone Else Deal With It” Isn’t Always the Best Reason to Hire a Property Manager

For many landlords, the idea of hiring a property manager is appealing, especially when the main motivation is to let “someone else deal with it.” The thought of offloading responsibilities such as tenant communications, maintenance coordination, and rent collection can be tempting. However, while property managers can offer convenience, this hands-off approach may not be the best choice for every landlord. In fact, self-managing your rental property might provide you with greater benefits in the long run. Here’s why you might want to reconsider letting “someone else deal with it.”

1. The Cost of Convenience

Hiring a property manager to handle the day-to-day operations of your rental property comes with a cost. Property managers typically charge a percentage of your monthly rental income, which can range from 8% to 12%, as well as additional fees for services like tenant placement and maintenance coordination.

Why Self-Manage?
By self-managing, you keep these fees in your pocket, maximizing your rental income. While the idea of having someone else handle the work may seem worth the cost, the reality is that many of the tasks involved in property management can be efficiently managed with the right systems and tools.

Take Action: Learn how to manage your rental property effectively and save money by enrolling in my free landlord class. My free eBook also provides tips on streamlining property management tasks.

2. Loss of Control

When you hire a property manager, you’re entrusting someone else with the responsibility of making decisions about your property. While this can alleviate some of the workload, it also means you lose a certain level of control over how your property is managed.

Why Self-Manage?
Self-managing allows you to retain full control over your property. You get to make the final decisions on tenant selection, maintenance priorities, and how to handle any issues that arise. This ensures that your property is managed according to your standards and not someone else’s.

Take Action: If you’re concerned about the learning curve, my online courses can help you build the confidence and knowledge needed to manage your property successfully.

3. Building Personal Relationships with Tenants

One of the often-overlooked benefits of self-management is the opportunity to build personal relationships with your tenants. A property manager might handle the communication, but they won’t have the same vested interest in your tenants’ satisfaction as you do.

Why Self-Manage?
By interacting directly with your tenants, you can foster a positive relationship that leads to better communication, increased tenant satisfaction, and longer lease terms. Tenants are more likely to stay long-term when they feel valued by their landlord.

Take Action: Follow me on Instagram @first_time_landlord for tips on how to communicate effectively with your tenants and build strong, lasting relationships.

4. Gaining Valuable Experience

Managing your own rental property offers you the chance to gain valuable experience that can be applied to future investments or other areas of your life. From handling maintenance issues to navigating tenant relations, the skills you develop as a self-managing landlord are invaluable.

Why Self-Manage?
Every challenge you face as a self-managing landlord is an opportunity to learn and grow. Over time, you’ll build confidence in your abilities, making you a more effective and successful property owner.

Take Action: Start building your skills today by enrolling in my online courses, which cover all aspects of property management, from tenant screening to legal compliance.

5. Avoiding Common Pitfalls

While property managers can offer convenience, they also come with potential downsides. Issues such as lack of communication, unethical practices, and negligence can create more problems than they solve.

Why Self-Manage?
By managing your property yourself, you can avoid these common pitfalls. You’ll have direct oversight of all aspects of your property, ensuring that everything is handled with care and attention to detail.

Take Action: Learn how to avoid common property management issues by downloading my free eBook and exploring my free landlord class for additional resources.

6. Flexibility and Quick Decision-Making

Property managers often operate within a specific framework, which can limit their flexibility in handling unique situations or adapting to changing market conditions. This lack of flexibility can be frustrating for landlords who need a more tailored approach.

Why Self-Manage?
Self-managing allows you to be more adaptable and responsive to the needs of your property and tenants. Whether it’s adjusting rent prices based on market trends or addressing a tenant’s specific request, self-management gives you the flexibility to make changes quickly and efficiently.

Take Action: Stay informed about market trends and best practices in property management by following my Instagram @first_time_landlord and joining my free landlord class.

Conclusion

While the idea of hiring a property manager so "someone else can deal with it" might seem appealing, it’s important to consider the potential downsides. Self-managing your rental property offers numerous benefits, including cost savings, greater control, stronger tenant relationships, and the opportunity to gain valuable experience. With the right tools and resources, you can confidently take on the responsibilities of managing your property and enjoy the rewards that come with it.

For more tips and resources on successful self-management, 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.