Connecting with Landlords who Hired Property Managers

[Amal Bhatnagar]

Hi All,

I'd love to connect with landlords who previously hired property managers. Specifically, I'd like to understand what the hardest parts of finding a good property manager was and why you decided to go with a property manager instead of self-managing your property. For context, I have a condo that I rent out but I'm looking to hire a Property Manager, so I'd like to understand how your experience was. 

Thanks!

[Charles Carillo]

@Amal Bhatnagar

The issue with third-party property management and single-family residences is that management can be very expensive. You are typically paying 10% plus repairs, leasing fees, etc. It makes it hard to cashflow unless you have no debt. If you just have one condo and you have a good handyman in the area; I might just manage it myself. The PM is really just making calls to their handyman when there is an issue. Have your tenant mail the check to you or have them do it online and it is very easy. You will also need a real estate agent on the ground to lease the unit when tenants move. It just depends if you care to coordinate things and check on the property here and there. The more units you have, the more I would suggest a PM.