Regarding if you should DIY manage or hire a PMC:Many new investors read a couple of posts and then think self-managing their rental property, and avoiding PMC charges, is an easy way to boost their ROI.The reality, is that many of these investors really haven’t taken the time to properly understand what it takes to properly manage a rental property and the corresponding tenants.Here’s a list of some of the requirements to properly manage a rental property:Knowledge of all local municipality, state and federal landlord requirementsIntimate knowledge of all Fair Housing statutesUnderstand all federal privacy laws, as they’ll be handling social security numbers and IDsProper business insurance in the event their computer is hacked and or they improperly dispose of tenant data.Where to advertise their rental, other than ZillowWriting ads compliant with Fair Housing statutesCreating a process to accept calls/texts and schedule prospects to show their rentalA rental application and application fees that meet all local and state requirementsKnowing how to screen applicants to avoid professional tenants and the growing amount of fraudulent dataA lease compliant with all local, state & federal lawsUnderstanding local and state requirements regarding security deposit collection and holdingRent acceptance options for tenants and accounting system to track, including late fees, etc.Plans to handle nonpayment of rent issuesKnowledge of their local eviction laws or access to an attorney familiar with evictionsHow to accept, track and respond to tenant maintenance issuesBuilding a list of handymen and contractors for maintenance and turns between tenantsExpertise at evaluating tenant damages to charge against security deposit when tenants move outResearching local utility requirements to avoid suspension of services that could lead to frozen pipes or flooded basements, etc.

At the end, when the tenant was evicted the property manager informed me that property has serious damage.

Hi, is a condo that I owne, our ceiling is damaged by upstair unit radiator. 

If they move in, it becomes the damage deposit. 

I hope you have documented the damage he has caused.

They also turnover every few years allowing you to fix the damage and raise rents.

Choosing kitchen cabinets is probably the biggest is not the most nerve-wracking decision for your kitchen.

They are now offering a damage protection plan  and  cancellation insurance with an additional optional fee cost to the guest.

Using Google Streetview (image capture 07/2022) to virtually drive the block, shows 5 vacant properties, one of which is significantly fire damaged.

A landlord can keep those reserves and use it for normal wear and tear or more serious damages.