Say you own 10 duplexes, on average how much time would you have to put in if you self manage?
Lot's of variables, but I'd plan on about 12 hours per month once they were stabilized. There would be spikes for vacancies/make readies, but some months would be really quiet. Assumes decent area with good tenant screening.
It would all depend on how well you have your policies and procedures laid out. I don't own any multis but for each property I own I spend about 8 hours a year on each (assuming you're talking about handling the oddball type stuff)
I own 5 single family homes and manage an addition 4 for my parents. When I am not renting the homes out I spend about 2 hours a months on rental management. That is not including playing on BP, looking for the next deal, or placing tenants. When I am placing tenants I spend 5-10 hours per property.
Hi @John Richardson. I own 5 multi family's within close proximity to one another and they aren't very management intensive because there is little to no differed maintenance. I also have great tenants that I don't usually need to chase for rent. That being said, I spend on average about 8-12 hours per month on all 5 properties (site visits, coordinating repairs, bookkeeping, etc.). Find great tenants and it will make all the difference!
Great advice, thank you everybody!