Should You Hire a Property Management Company or Manage It Yourself?

As a real estate investor and property manager, I’ve had firsthand experience managing my own rentals and hiring professionals to do it for me. Whether you’re a first-time landlord or scaling your rental portfolio, one of the biggest decisions you’ll face is whether to self-manage or outsource to a property management company.

I get it—on one hand, managing your own properties means more control and cost savings. On the other, hiring a property manager frees up your time and minimizes headaches. So, how do you decide? Let’s break it down.

Managing Your Own Rental Property: Pros & Cons

If you’re hands-on and want to maximize profits, self-managing could be a good fit. Here’s when it makes sense:

✅ When Self-Managing Works Well

1. You Have Just a Few Properties
   If you own one or two rentals, handling tenant communication, rent collection, and maintenance might be manageable.

2. You Live Nearby
   Being local means you can personally handle showings, inspections, and minor repairs. If your properties are out of town, self-managing becomes a logistical nightmare.

3. You Have Experience (or Are Willing to Learn)
   If you know how to screen tenants, handle lease agreements, and manage maintenance, you’ll save money by doing it yourself. If not, be ready for a learning curve.

4. You Have the Time
   Property management is not passive income—it’s active work. If you have another full-time job or business, managing rentals yourself might not be worth the hassle.

5. You Want to Maximize Profit Margins
   Property management companies typically charge 8-12% of your monthly rent. If your goal is to squeeze out every dollar of cash flow, self-managing helps cut costs.

❌ When Self-Managing Becomes a Problem

• You’re getting too many tenant complaints and requests

• You’re overwhelmed by maintenance issues

• You’re struggling with rent collection or evictions

• You’re not staying up to date on landlord-tenant laws

• You feel like the business is running you instead of the other way around

When to Hire a Property Management Company

At some point, many landlords realize they’re better off hiring a property manager. But be careful—not all property management companies are created equal. I learned this the hard way.

A Property Management Nightmare: My Experience

Years ago, I hired a property management company, thinking they’d take care of everything. What I got instead was a disaster. They weren’t managing the property; they were just putting bodies in the unit—no proper tenant screening, no care for the condition of the home, just filling vacancies as quickly as possible.

And the fees? Oh, they found ways to nickel-and-dime me on everything. There was a "tenant placement fee" every time they filled a unit, a "lease renewal fee" even when the tenant stayed, and an "inspection fee" that never seemed to result in actual maintenance being done. Before I knew it, my cash flow was gone.

Then came the late-night phone calls—not from the property manager, but from angry tenants who weren’t getting repairs done. The company was taking my management fee but not managing anything. I ended up stepping in to fix the mess myself.

That experience taught me a valuable lesson: if you’re going to hire a property manager, make sure they’re worth the money.

✅ Signs It’s Time to Hire a Property Manager (The Right One)

1. You Own Multiple Properties
   Managing multiple units is a full-time job. A property management company can streamline operations so you don’t have to micromanage every detail.

2. You Don’t Live Near Your Rentals
   If you invest out of town or own properties in different cities, you need a local team to handle tenant issues, maintenance, and turnovers.

3. You’re Tired of Tenant Headaches
   Screening tenants, handling late rent, and dealing with disputes can be exhausting. A professional property manager takes care of the heavy lifting.

4. You Have Another Business or Full-Time Job
   If real estate investing is your side hustle (or you simply value your time), hiring a property manager allows you to focus on higher-value activities.

5. You Struggle With Maintenance & Repairs
   If you don’t have a network of contractors or don’t want to deal with emergency repairs, a property manager has vendors ready to go.

6. You Want to Scale Your Portfolio
   Growing from a few rentals to a full-fledged portfolio is much easier when you have a property management company handling operations.

Making the Right Choice

Hire a Property Manager If:

✔ You want to scale and own multiple units
✔ You’re tired of tenant issues and maintenance calls
✔ You live far from your rental properties
✔ You’d rather focus on investments than day-to-day management

Manage It Yourself If:

✔ You own just a couple of properties and live nearby
✔ You want to save on management fees
✔ You have the time and expertise to handle everything
✔ You enjoy being hands-on with your investments

Pro Tip: Some landlords take a hybrid approach—managing the property themselves but outsourcing certain tasks like tenant screening, lease agreements, or maintenance.

My Final Thoughts

I’ve been in this business for 19 years, and I’ve seen both sides of the coin. If you’re just starting out, I recommend managing your first property yourself—this gives you valuable experience and insight into the business. But as your portfolio grows, don’t be afraid to outsource and scale.

That said, vet your property management company carefully. Don’t fall into the trap of hiring a company that just fills vacancies without caring for your investment. Look for a team that treats your property like their own, values long-term tenants, and doesn’t fee you to death.

At the end of the day, the right choice comes down to your time, goals, and how involved you want to be. Real estate should work for you—not the other way around.

What’s your experience with property management? Do you self-manage or hire a company? Drop a comment below—I’d love to hear your thoughts!