Self manage or hire property management, that is the question?

[Juliette Olsen]

Hi!

We’re planning to rent our home when we move—but we know we will be moving out of state. 

Question is:

Self manage out of state? 

OR 

Hire property manager and eat the costs until you have cash flow coming in? 

What’s the major perks in your opinion of having a property manager? Are they worth the costs? 

Share your stories! And if you are a property manager company in Orlando, Fl, would love to chat. 

With gratitude, 
Juliette 

[Jeff Roth]

Hi Juliette-

Great question!

You want to rent out your house but wonder if you should use a property manager or self manage.

I always advise my clients to use a property manager to make owning investment real estate as "passive" as possible and if the property manager is good they will help you maximize rents with their management and reduce turnover and the cost of tenant turnover. I also use property managers for my properties.

Additionally, unless you are an expert on Fair Housing laws you can easily find yourself in violation even when you think you are acting reasonably and find yourself in a lawsuit or under investigation.

Finding reliable contractors is an issue and a good property manager should have those relationships saving you time and hopefully money.

Navigating non-payment of rent or an eviction can be time consuming and expensive and a good property manager should help you avoid needing to do that with good tenant screening or have the legal resources to deal with it if you have to.

You do have to manage the property manager and watch expenses especially for large repairs. Always insist on three estimates for larger projects.

To Your Success!