Renting out my townhouse: DIY vs. PM vs. Realtor
Member since 2025 · 5 posts · 1 vote
Renting out my townhouse: DIY vs. PM vs. Realtor
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Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
1yQuote from @Rafael Valdor:
I hear horror stories about renters all the time, but that doesn't mean all renters are bad. Those horror stories are typically from amateur landlords that don't know how to screen tenants. The same is true with property management. Learn what a good one looks like, then take your time to find one.
The DIY Landlord Book4.7247 Reviews
14 Replies
- Realtor · Calgary, Alberta · Member since 2018 · 291 posts · 132 votes1y
Quote from @Rafael Valdor:
hi fellow investors,
I want to rent out my townhouse in Calgary, but haven't had much luck with it on Rentfaster and Zillow.Just a couple of tire kickers so far.
I reached out to a few Realtors (just for tenant placement) and got crickets...
So I'm going to reach out to PM's next, but I was reluctant to do it since all I hear are horror stories.
Any suggestions for half decent PM's or realtors who specialize in residential leasing?
Cheers!
Hi Rafael,
Realtors don't typically do tenant placement in Calgary, I'd recommend working with a property manager instead (but as you eluded, there are a LOT of bad ones out there). How much are you trying to rent your townhouse for? Unless you have a really bad listing, changes are you are asking too much if you are not getting much interest on rentfaster. A property manager will take the workload off your shoulder but they likely won't get you a higher rent unless your listing is terrible.
- Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes1y
Quote from @Rafael Valdor:
I hear horror stories about renters all the time, but that doesn't mean all renters are bad. Those horror stories are typically from amateur landlords that don't know how to screen tenants. The same is true with property management. Learn what a good one looks like, then take your time to find one.
The DIY Landlord Book4.7247 Reviews - 1yMichael SmytheBusiness MemberReal Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
@Rafael Valdor some advice when screening PMCs
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Recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.
Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.
Also, encourage you to learn from the mistakes of others - by reading posts here on BiggerPockets about owners not having their expectations met by their current Property Management Company.
To avoid going through the same poor experience, keep reading.
Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.
In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.
It's often a case of not doing enough research, as they don't know what they don't know!
Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!
So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.
EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do!
This also leads owners to ASSUME simpler is better when it comes to management contracts.
The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!
A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings. Why do you think purchase contracts are so long and have such small print?
We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.
EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!
P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above😊
Logical Property Management4.9455 Reviews - Member since 2025 · 5 posts · 1 vote1y
Quote from @Anthony Therrien-Bernard:
Quote from @Rafael Valdor:
hi fellow investors,
I want to rent out my townhouse in Calgary, but haven't had much luck with it on Rentfaster and Zillow.Just a couple of tire kickers so far.
I reached out to a few Realtors (just for tenant placement) and got crickets...
So I'm going to reach out to PM's next, but I was reluctant to do it since all I hear are horror stories.
Any suggestions for half decent PM's or realtors who specialize in residential leasing?
Cheers!
Hi Rafael,
Realtors don't typically do tenant placement in Calgary, I'd recommend working with a property manager instead (but as you eluded, there are a LOT of bad ones out there). How much are you trying to rent your townhouse for? Unless you have a really bad listing, changes are you are asking too much if you are not getting much interest on rentfaster. A property manager will take the workload off your shoulder but they likely won't get you a higher rent unless your listing is terrible.
Thanks @Anthony Therrien-Bernard, here's the listing: https://www.rentfaster.ca/596877
I've seen similar properties listed for 2.2K-2.6K.
Any red flags on my listing? Also, any recommended PM's in Calgary? - Real Estate Broker · Hyde Park Tampa, FL · Member since 2019 · 2k+ posts · 3k+ votes1y
I would recommend rewriting the narrative. Selling the convenience of the location first and in such detail may lead some renters to assume that there is something not so great about the house itself since the sale in on the location. Sell the home to whoever your target tenant will be - modern, sleek, urban, renovated, bright/spacious; then sell the location - not whether they have a bank account or need a 7/11 - just that it is located to 'dining, entertainment, shopping, more.' You want prospective tenants to come see it, walk it, imagine living there so don't get in the weeds on the details or offer photos that aren't great. I manage my own properties as do my clients; with the electronic resources for screening, rent collection, more - the ROI is greatly improved and you retain control of the property.
Hope this helps. It's a great property. But there are also 411 townhouses listed for rent on renterfaster.com so you'll need to elevate your listing to generate more serious candidates.
Best.
- Realtor · Calgary, Alberta · Member since 2018 · 291 posts · 132 votes1y
Quote from @Rafael Valdor:
Quote from @Anthony Therrien-Bernard:
Quote from @Rafael Valdor:
hi fellow investors,
I want to rent out my townhouse in Calgary, but haven't had much luck with it on Rentfaster and Zillow.Just a couple of tire kickers so far.
I reached out to a few Realtors (just for tenant placement) and got crickets...
So I'm going to reach out to PM's next, but I was reluctant to do it since all I hear are horror stories.
Any suggestions for half decent PM's or realtors who specialize in residential leasing?
Cheers!
Hi Rafael,
Realtors don't typically do tenant placement in Calgary, I'd recommend working with a property manager instead (but as you eluded, there are a LOT of bad ones out there). How much are you trying to rent your townhouse for? Unless you have a really bad listing, changes are you are asking too much if you are not getting much interest on rentfaster. A property manager will take the workload off your shoulder but they likely won't get you a higher rent unless your listing is terrible.
Thanks @Anthony Therrien-Bernard, here's the listing: https://www.rentfaster.ca/596877
I've seen similar properties listed for 2.2K-2.6K.
Any red flags on my listing? Also, any recommended PM's in Calgary?That looks to me like $200-300 too high for the current rental market. Unfortunately, rents are down, and other listings higher don't mean much unless they get rented for that amount.
- Real Estate Agent · Calgary, Alberta · Member since 2018 · 8 posts · 5 votes1y
Hi Rafael, I reviewed your listing as well. Primary issue I see is being priced too high for the current market by a few hundred dollars. I know you mentioned other units are listed comparably but asking price is not the same as rented price. I’d revisit the pricing, happy to go over it on a phone call if you would prefer. I’m in Calgary as well :)
- Member since 2025 · 5 posts · 1 vote1y
Quote from @Patricia Steiner:
I would recommend rewriting the narrative. Selling the convenience of the location first and in such detail may lead some renters to assume that there is something not so great about the house itself since the sale in on the location. Sell the home to whoever your target tenant will be - modern, sleek, urban, renovated, bright/spacious; then sell the location - not whether they have a bank account or need a 7/11 - just that it is located to 'dining, entertainment, shopping, more.' You want prospective tenants to come see it, walk it, imagine living there so don't get in the weeds on the details or offer photos that aren't great. I manage my own properties as do my clients; with the electronic resources for screening, rent collection, more - the ROI is greatly improved and you retain control of the property.
Hope this helps. It's a great property. But there are also 411 townhouses listed for rent on renterfaster.com so you'll need to elevate your listing to generate more serious candidates.
Best.
Never thought of that regarding the narrative, this is very helpful @Patricia!
What are your favorite electronic resources for screening? - Member since 2025 · 5 posts · 1 vote1y
Quote from @Santhosh Nathan:
Hi Rafael, I reviewed your listing as well. Primary issue I see is being priced too high for the current market by a few hundred dollars. I know you mentioned other units are listed comparably but asking price is not the same as rented price. I’d revisit the pricing, happy to go over it on a phone call if you would prefer. I’m in Calgary as well :)
thank you @Santhosh, it appears that may be the case.
- 1yKyle MccawBusiness MemberProperty Manager · Keller, TX · Member since 2011 · 1k+ posts · 1k+ votes
You’re absolutely right to prioritize tenant screening—it's one of the most critical aspects of protecting your investment. As someone who manages over 1,200 properties, I can tell you that proper screening is where professional property managers (PMs) really shine.
Here’s why working with a professional PM is worth it:
- Screening Expertise:
Fraud in tenant applications is more common than many realize. Fake income documents are easily purchased online, and inexperienced screeners often miss red flags. Professional PMs use specialized tools to verify income directly with a tenant’s bank or payroll service, ensuring legitimacy. This level of scrutiny drastically reduces the risk of renting to unreliable tenants. - Realtors vs. Property Managers:
While realtors are great at buying and selling homes, most aren’t trained in the intricacies of tenant screening. Leasing is a specialized skill—PMs deal with this daily, making them far better equipped to handle applications, verify income, conduct background checks, and evaluate a tenant’s overall suitability. - Protecting Your Investment:
The cost of a bad tenant can be far greater than the cost of hiring a professional. Late payments, property damage, and evictions are avoidable when you have a PM who knows how to find reliable renters.
I encourage you to seek out a property management company that emphasizes tenant screening and uses modern tools for verification. With the right PM, you’ll have peace of mind knowing your property is in good hands and generating steady income.
Good luck with your search! Feel free to ask if you’d like more tips on what to look for in a PM.
McCaw Property Management4.4909 Reviews - Screening Expertise:
- Realtor · Calgary, Alberta · Member since 2018 · 291 posts · 132 votes1y
Quote from @Kyle Mccaw:
You’re absolutely right to prioritize tenant screening—it's one of the most critical aspects of protecting your investment. As someone who manages over 1,200 properties, I can tell you that proper screening is where professional property managers (PMs) really shine.
Here’s why working with a professional PM is worth it:
- Screening Expertise:
Fraud in tenant applications is more common than many realize. Fake income documents are easily purchased online, and inexperienced screeners often miss red flags. Professional PMs use specialized tools to verify income directly with a tenant’s bank or payroll service, ensuring legitimacy. This level of scrutiny drastically reduces the risk of renting to unreliable tenants. - Realtors vs. Property Managers:
While realtors are great at buying and selling homes, most aren’t trained in the intricacies of tenant screening. Leasing is a specialized skill—PMs deal with this daily, making them far better equipped to handle applications, verify income, conduct background checks, and evaluate a tenant’s overall suitability. - Protecting Your Investment:
The cost of a bad tenant can be far greater than the cost of hiring a professional. Late payments, property damage, and evictions are avoidable when you have a PM who knows how to find reliable renters.
I encourage you to seek out a property management company that emphasizes tenant screening and uses modern tools for verification. With the right PM, you’ll have peace of mind knowing your property is in good hands and generating steady income.
Good luck with your search! Feel free to ask if you’d like more tips on what to look for in a PM.
Hi Kyle, just to clarify, I see you are in Texas, and I am in Alberta, where Rafael is. Property management is a separate license in Alberta.
- Screening Expertise:
- Member since 2024 · 6 posts · 3 votes1y
Engaging in finding renters for clients on rental properties normally isn't worth a realtor's time.
Here's what works for me:
1) Posting your property on Facebook Marketplace
2) Craigslist
3) Talk to local universities or big corporations who may need short or long term housing for their clients
4) Property managers are hit or miss. They're gonna take some of your profits also.
- 1yKyle MccawBusiness MemberProperty Manager · Keller, TX · Member since 2011 · 1k+ posts · 1k+ votesCorrect. I am in Texas. But I am certain tenant screening is just as important in Canada.
Quote from @Anthony Therrien-Bernard:
Quote from @Kyle Mccaw:
You’re absolutely right to prioritize tenant screening—it's one of the most critical aspects of protecting your investment. As someone who manages over 1,200 properties, I can tell you that proper screening is where professional property managers (PMs) really shine.
Here’s why working with a professional PM is worth it:
- Screening Expertise:
Fraud in tenant applications is more common than many realize. Fake income documents are easily purchased online, and inexperienced screeners often miss red flags. Professional PMs use specialized tools to verify income directly with a tenant’s bank or payroll service, ensuring legitimacy. This level of scrutiny drastically reduces the risk of renting to unreliable tenants. - Realtors vs. Property Managers:
While realtors are great at buying and selling homes, most aren’t trained in the intricacies of tenant screening. Leasing is a specialized skill—PMs deal with this daily, making them far better equipped to handle applications, verify income, conduct background checks, and evaluate a tenant’s overall suitability. - Protecting Your Investment:
The cost of a bad tenant can be far greater than the cost of hiring a professional. Late payments, property damage, and evictions are avoidable when you have a PM who knows how to find reliable renters.
I encourage you to seek out a property management company that emphasizes tenant screening and uses modern tools for verification. With the right PM, you’ll have peace of mind knowing your property is in good hands and generating steady income.
Good luck with your search! Feel free to ask if you’d like more tips on what to look for in a PM.
Hi Kyle, just to clarify, I see you are in Texas, and I am in Alberta, where Rafael is. Property management is a separate license in Alberta.
McCaw Property Management4.4909 Reviews - Screening Expertise:
- Realtor · Calgary, Alberta · Member since 2018 · 291 posts · 132 votes1yI was talking about your Realtor vs Property Manager, here Realtors doing property management need a separate property management license
Quote from @Kyle Mccaw:
Correct. I am in Texas. But I am certain tenant screening is just as important in Canada.Quote from @Anthony Therrien-Bernard:
Quote from @Kyle Mccaw:
You’re absolutely right to prioritize tenant screening—it's one of the most critical aspects of protecting your investment. As someone who manages over 1,200 properties, I can tell you that proper screening is where professional property managers (PMs) really shine.
Here’s why working with a professional PM is worth it:
- Screening Expertise:
Fraud in tenant applications is more common than many realize. Fake income documents are easily purchased online, and inexperienced screeners often miss red flags. Professional PMs use specialized tools to verify income directly with a tenant’s bank or payroll service, ensuring legitimacy. This level of scrutiny drastically reduces the risk of renting to unreliable tenants. - Realtors vs. Property Managers:
While realtors are great at buying and selling homes, most aren’t trained in the intricacies of tenant screening. Leasing is a specialized skill—PMs deal with this daily, making them far better equipped to handle applications, verify income, conduct background checks, and evaluate a tenant’s overall suitability. - Protecting Your Investment:
The cost of a bad tenant can be far greater than the cost of hiring a professional. Late payments, property damage, and evictions are avoidable when you have a PM who knows how to find reliable renters.
I encourage you to seek out a property management company that emphasizes tenant screening and uses modern tools for verification. With the right PM, you’ll have peace of mind knowing your property is in good hands and generating steady income.
Good luck with your search! Feel free to ask if you’d like more tips on what to look for in a PM.
Hi Kyle, just to clarify, I see you are in Texas, and I am in Alberta, where Rafael is. Property management is a separate license in Alberta.
- Screening Expertise:
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