Do you self manage or use a property manager?
Hi all!
My real estate partners and I currently own a few rental properties out of state which we self manage. We are starting to look into investing in Spokane. Given that one of our colleagues is from the area, the question has come up whether we should self manage or hire a property manager. Obviously, there are pros and cons with both. We have had limited experiences with property managers, and we are weighing the benefits of not having to take 3am emergency repair calls vs the cost of having someone else manage your properties. We are frequently told that no one will care about your properties as much as yourself. I'm just curious about everyone's experiences. Do you use a property manager or do you manage your properties yourselves? How did you come to that decision? If you are using a property manager, how did you find yours and how do you ensure that they are doing a good job? Finally, do you have any unforgettable (good or nightmarish) experiences that you had with self management or using a property manager that you are willing to share?
Any response and help is greatly appreciated.
Thank you,
Linying