Are management companies worth the fee

[Cameron Searle]

I have 3 rentals all single family homes. I have self managed from the start. Made some bad decisions and learned along the way. What is your experience with management? I feel they get better quality people in. My biggest reason for self managing is a small easy repair I do myself where a management company calls contractor for every repair. Any feed back or do most self manage

[Bryan O.]

@Cameron Searle It depends on how well you manage, and how well they manage. If you think they get better tenants it indicates that you are probably not very good at screening. Management is reactive whereas owner/managers are usually also proactive, which improves tenant relationships and makes more money in the long run. Most management companies will allow you to decide if you want to be the first contractor they call, allowing you to handle whatever repairs you want, or kick it back to them to hire someone. If you do that though, then what's the point of having management? You can look into getting a "leasing agent" who will do your showings and screenings and then be done. That lets you offload the part you are not good at, but then you don't have to pay the monthly fee to a permanent manager. Lots of ways to do it! Best of luck.