I’m reaching a breaking point with my property. With the current market pressure and taxes going up, I was looking into a property manager, but I just can't justify shelling out $2,000+ a year.
For a one unit management it’s basically feels like basic coordination, answering basic questions, coordinating the occasional showing, and following up on maintenance.
Are there any alternatives? there must be some software out there that can automate this middleman coordination piece even?
I’m reaching a breaking point with my property. With the current market pressure and taxes going up, I was looking into a property manager, but I just can't justify shelling out $2,000+ a year.
For a one unit management it’s basically feels like basic coordination, answering basic questions, coordinating the occasional showing, and following up on maintenance.
Are there any alternatives? there must be some software out there that can automate this middleman coordination piece even?
The question is, WHY are you at a "breaking point" with one unit? What is the actual condition of the property...post some pics or link to listing? You mention basic questions, showings, and follow up on maintenance, but those should not be taking any significant time if the unit was properly prepared for rental and the tenant was properly screened and signed to a solid Rental Agreement. Are you familiar with your local Landlord Tenant Laws? Do you know YOUR responsibilities?
Look, software is great for collecting rent, but it doesn't manage people. When life happens and a good tenant goes bad, an app isn't going to handle the eviction or the midnight flood. You're not paying $2k for the easy months... your paying for the hard ones. If you self-manage, you are the PM, so make sure you value your time. unfornatuely... management is kind of like insurnace.... it can suck to pay but when crap happens you are SO SO thankful to have a rockstar management company handling it
Look, software is great for collecting rent, but it doesn't manage people. When life happens and a good tenant goes bad, an app isn't going to handle the eviction or the midnight flood. You're not paying $2k for the easy months... your paying for the hard ones. If you self-manage, you are the PM, so make sure you value your time. unfornatuely... management is kind of like insurnace.... it can suck to pay but when crap happens you are SO SO thankful to have a rockstar management company handling it
I get that, but trusting a PM company to handle those things Vs. just pushing it back as line items of maintenance requests with the places is also the concern. I had a PM that left we high and dry end of December because their broker license expired.
I was in the same boat — PM fees were killing my margins on a small portfolio. Ended up going the self-manage route with software instead. Baselane for rent collection/bookkeeping (free), and I've been piloting Realty Watchers for the tenant communication side — it uses AI to field calls and route maintenance requests so I'm not glued to my phone. Between those and a good handyman, I'm well under $2K and have more control. The key for me was solving the "tenant calls at 9pm about a dripping faucet" problem without paying a full PM.