For those who've made the switch to hiring a Property Manager

[Jon S.]

For those who have transferred management of properties to a professional property manager, how has your business fared? Have your vacancy rates changed and if so how? Have your rents changed, and if so how? How have your maintenance costs been, more or less? If you had to do it again, would you make the same choice? Thank you

[Joseph Firmin]

Hi @Jon S.! We have 4 units with property management and no one will take care of your properties like you would. I find it somewhat freeing to let them do their job (similar to delegating in my corporate day-job role). Vacancy is normal, but this also depends on the time of year, marketing, rent being charged, etc... The PM should be consulting you at every turnover or renewal if you want to increase rents, that should be a co-effort with them consulting you on the market dynamics they are seeing.  Do you invest in Tampa or live there and invest OOS? I'm starting to look at Tampa for multifamily.