Utilizing Property Managers

[Aliyyah Carter]

Curious to hear your take on utilizing property managers. Have you found it beneficial in your investment journey? What specific advantages or drawbacks have you encountered when deciding between self-management and hiring a property manager? Looking for insights and experiences to inform my investors on how to best handle property management with their investment strategy.

[Michael Smythe]

@Aliyyah Carter if you search here on BP, you will find most will suggest not to hire a PMC. 

Their reasons typically mention:
- Why pay for something that's so easy to do yourself
- They had a bad experience with a PMC
- No one will manage your property as well as you do
- Etc.

Each of those reasons has a counterpoint:
- It's only easy until something goes wrong!
- They're bad experience with a PMC usually was a result of them going with the cheapest PMC or not asking enough questions to confirm how the PMC would perform their services (bad screening).
- This is a tradeoff between knowledge and time. 

Suggest you read more and communicate with the investors that have 5+ years of experience - which is usually enough time to experience the realities of rentals.