All Forum Posts by: Eric Anderson

@Brian Adams Thanks for your advice and detailed response. 

It sounds like managing a full-time employee (pm) requires significantly more time compared to hiring a 3rd party PM.   Are there specific reasons why this is the case? 

So far, on my pros and cons list I have:

3rd Party PM

Pros: Investor spends less time managing property, no employee turnover issues. 

Cons: More expensive, less control, sometimes the service is worse than self-management

Full-time Employee/Self-management   

Pros: Better control, less expensive

Cons: Investor spends more time managing, vulnerable to employee turnover, access to fewer maintenance techs

Thanks Mike.  Do you think there's a significant difference in the level of owner involvement for a portfolio that is managed by a full-time dedicated employee vs a portfolio that is managed by a property management co?

Hi, I'm looking for advice on how to best manage a package portfolio of 76 apartments spread among 20 small multi-unit buildings in the same area.  Total gross rent would be around $700k/year.  We may increase our portfolio in the future. 

We're debating hiring a part-time or full-time property manager and contracting with a maintenance tech, or outsourcing everything to a property management company.  It seems there are pros and cons to each option and am wondering if the BP community may have some insights.  Are there certain thresholds to reach (ie # of doors) where it makes more sense to hire a property manager as an employee vs hiring a property management company? Thanks!