Switching from Property management to self management

[Irvin Nguyen]

Hi all,

I currently own a rental property in Beaverton, OR.  Our tenants lease ends in April and plan to renew it so they say for now anyways. My wife and I were currently looking to stop working with property management and trying to take it on ourselves. How was dealing with the tenants, PM, and everything from canceling PM and taking on the role yourselves? Was there any fees or things i should look out for? Or how do you go about telling your tenants? I assume they wont have an issue since nothing is really changing for them besides new management and rent increase. I just would have to find a lease contract to write up for their renewal. I have looked into rentredi, and stessa so far. Is there any other stuff you guys would recommend?

[Nathan Gesner]

Quote from @Irvin Nguyen:

You have a PRO account, so you have access to a Landlord Lease Package from Biggerpockets. Go to "TOOLS" at the top of your screen. Written by investors and attorney approved for your state. It's better than what you'll get from most attorneys and what you'll find on the internet.

I also recommend "Every Landlord's Legal Guide" by NOLO. Written by attorney investors, it's full of practical advice pertaining to management of investment property, has sample forms that can be edited, and - most importantly - they tell you what your primary state laws are and where you can read them. It's updated every year and is the best $40 you'll spend as a Landlord. There is one book for 49 states and a separate book for California.