I manage my duplex myself. It is very easy as long as you know your landlord and tenant laws. I used legal tenant lease forms and BP tenant screening which makes it pretty easy to use. It's been a good experience for me because I am able to check in on my unit and make sure it is taken care of. You also will have to make sure you record any repairs and expenses and maintain all receipts. I have this done by end of year and have my CPA take care of both personal and business taxes. That said, I would strongly recommend an LLC because even if you have certain rules on your lease does not mean that the tenant may not sue. I have seen in the past and can be pretty stressful. Overall, If you have good tenants you might get a call every now and then but overall it shouldn't take up too much of your time until you purchase more properties. Many of the simple repairs you can do yoursefl if you are pretty handy and hire a handyman for any of the major stuff. Good Luck!

If you only own 1 unit and it is nextdoor, unless you just really dead set against dealing with tenants I'd just manage it myself. It can't get any easier and you will learn a lot IMO.As for getting background/etc done, I've heard https://cozy.co/ is a good site to use.

Nathan,I think property managers can be great and know and work with some fine ones. That said, you also have an opportunity to learn a valuable life long skill: landlording. Of course, it may or may not be a skill you want to learn, but I would read up more on it. Even just glancing at a book like the classic Landlording (Leigh Robinson) at the library or reading other books may let you have some ideas. There are also some blogs and forums here on BP.You will be right there next door, so the drive over to manage it will be short (like really short). And no one will have more incentive to do it right....Plus, good news--you are starting to explore it many months out and can study enough to find out if you want to try some hands on landlording (or some hands off landlording). My recommendation: study more about what good landlording entails. You may just be surprised at what you can do.

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Nathan GalvanPoster

Rancho Cordova, CA

Starting Out

Property manager?

Nathan GalvanPoster

Rancho Cordova, CA

Posted October 29, 2015 22:32

Hello, I am looking to purchase a duplex with my fiancé sometime next June. This will be my first property and I plan on renting the other unit out. I am a BEGINNER to all of this. Does anyone recommend that I hire a property manager? Do they handle all paperwork and credit checks? How much of a percentage to they get 8-10 percent of the rent?

Thank you!

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