Property Management in Columbus, OH?

[Trevor Walsh]

Hi all!

First time poster and new to the REI journey. I've been house hacking my current residence by renting out rooms for the past 3 years and I love this wealth-creation strategy to build my portfolio!

 I'm looking to buy a second home to house hack and I'm wondering if I should continue to rent my original primary residence myself and self-manage (which I would intend to turn into a full home rental) or if I should pursue a property management company to help me. I'm just south of Easton area and I believe the neighborhood already has a fair number of house rentals in the area (I see them go on market and they usually rent within a few weeks), so I wouldn't expect it to be too hard to find a good tenant, and I have the time and resources at this point where I could probably self-manage. However, I want to consider all my options and make sure I'm making the right decision. If the benefits of property management outweigh the costs, I think it's worth considering.

Does anyone have any good referrals for property managers in the area based on my situation? Also, any advice on self-managing vs. using a property manager this early on? What's a realistic expectation for property management expenses on just one investment property (I read 8 - 12%, but I don't really know if that's true for your very first official rental property)? Any and all input is definitely appreciated!

[Remington Lyman]

Originally posted by @Trevor Walsh:

Hi all!

First time poster and new to the REI journey. I've been house hacking my current residence by renting out rooms for the past 3 years and I love this wealth-creation strategy to build my portfolio!

 I'm looking to buy a second home to house hack and I'm wondering if I should continue to rent my original primary residence myself and self-manage (which I would intend to turn into a full home rental) or if I should pursue a property management company to help me. I'm just south of Easton area and I believe the neighborhood already has a fair number of house rentals in the area (I see them go on market and they usually rent within a few weeks), so I wouldn't expect it to be too hard to find a good tenant, and I have the time and resources at this point where I could probably self-manage. However, I want to consider all my options and make sure I'm making the right decision. If the benefits of property management outweigh the costs, I think it's worth considering.

Does anyone have any good referrals for property managers in the area based on my situation? Also, any advice on self-managing vs. using a property manager this early on? What's a realistic expectation for property management expenses on just one investment property (I read 8 - 12%, but I don't really know if that's true for your very first official rental property)? Any and all input is definitely appreciated!

 I would recommend that you continue to self-manage. You save a lot of money and learn a lot. I self-manage my units here in Columbus, Ohio. I started off house hacking just like you did. I also tried to use several PMs and just ended up taking the business back.