Starting Out
Market News & Data
General Info
Real Estate Strategies
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/hospitable-deef083b895516ce26951b0ca48cf8f170861d742d4a4cb6cf5d19396b5eaac6.png)
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_trust-2bcce80d03411a9e99a3cbcf4201c034562e18a3fc6eecd3fd22ecd5350c3aa5.avif)
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_1031_exchange-96bbcda3f8ad2d724c0ac759709c7e295979badd52e428240d6eaad5c8eff385.avif)
Real Estate Classifieds
Reviews & Feedback
Updated 6 months ago on . Most recent reply
![Greg Friedman's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/2943884/1707516068-avatar-gregf185.jpg?twic=v1/output=image/cover=128x128&v=2)
Hiring a property manager vs doing it myself
Hi everyone, this is my very first post on the forum.
My wife and I live just outside of the Boston area and are thinking very strongly about renting out our primary residence and moving abroad. I’m wondering if it is worth it to hire a property manager or to save money and manage the property ourselves remotely. A property manager would charge 7% to 10% a month, plus I am assuming a mark up on any maintenance issues that they coordinate.
On the other hand, our house has a brand new roof, brand new hot water heater and recently renovated kitchen with newer appliances. The only thing I would anticipate needing in terms of capital expenses in the next few years would be a new HVAC unit which is on the older side, but we have already budgeted for that and have a service contract with a company that manages our HVAC, water heater and oil tank.
Am I crazy for thinking that a property management company would be an unnecessary expense in my case? The only thing I can think of that may be harder to deal with if I am not local is routine maintenance issues, but I was thinking I can just ask around for some handy man referrals to have at the ready in case those smaller issues arise, while I would instruct our future tenants to contact our service provider for any emergency issues.
Is there anything else I am missing that anyone would recommend a property manager for that would be hard to do myself? Posting the property and finding/screening tenants? Navigating lease agreements? Collecting rent?
Thanks in advance for any advice!
Most Popular Reply
![Adam Bartomeo's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/372554/1720920160-avatar-adambartomeo.jpg?twic=v1/output=image/crop=347x347@0x13/cover=128x128&v=2)
- Real Estate Broker
- Cape Coral, FL
- 1,044
- Votes |
- 1,746
- Posts
Simple... if you are moving more than 1-2 hours drive away from the property HIRE A PM!
- Adam Bartomeo
- [email protected]
- 239-339-3969
![business profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/marketplace/business/profile_image/632/1712142825-company-avatar.jpg?twic=v1/output=image/contain=65x65)