Is it worth it to bring your Property Management in house?
Two years ago I brought property management in house in my business. I made this decision after I realized that property managers don't work for me. Instead, they work for themselves. Sometimes our interests intersect but sometimes they don't. Looking back this was one of the best decisions I made in real estate. Now I hire people who work directly for me and this has allowed me to save tremendous amounts of money. Please note that I'm not saying I self manage. I still don't communicate with most of my tenants but I pay an employee (s) to do that. The difference now is that the employee works for me, is accountable only to me, and I have total control over my investments. This is a very different scenario than what I previously had with a property manager
I was curious if other people have made this leap, and what their experience was.
Please not that I am in no weigh impugning the work of property managers. My last property manager was someone I respected and we parted on good terms. Property managers helped me get started in real estate and without them, I wouldn't be here today.