Property Mangement, why not?

Managing Your Property
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Property Mangement, why not?

Katelin EberhardPro Member
Rental Property Investor · Des Plaines, IL · Member since 2020 · 47 posts · 8 votes

If you don't have a property manager, why not?

Curious what would make you consider getting one?

What makes you not want/ have one?

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Karl B.
Rental Property Investor · Erie, PA · Member since 2015 · 1k+ posts · 2k+ votes
3y

For me, personally, I don't use a property manager because:

1. I do a better job self-managing than any property manager in my town ever could

2. I would much rather keep the 10+% the property manager would be paid

3. With me in charge there aren't overpriced repairs or frivolous upgrades 

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  • Michael SmytheBusiness Member
    Real Estate Agent · Metro Detroit · Member since 2023 · 4k+ posts · 3k+ votes
    3y

    Main 2 reasons investors don't use PMCs:

    1) Cost: they're penny-wise, but dollar-foolish. Managing properties is the worst investment of your time.

    2) Fear: too many investors worry that, "no one will care about their properties as much as them". Which is true, to a LIMITED extent. PMC's actually usually better at running a property like a business and keeping emotions out of the equation.

    It's always helpful for a new investor to DIY  their first property for 6-12 months, so they learn the ropes. The experience will allow them to better screen PMC's before hiring one.

    Logical Property Management4.9454 Reviews
    WebsiteView Page
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  • Peter TverdovBusiness Member
    Developer · New Brunswick, NJ · Member since 2015 · 1k+ posts · 2k+ votes
    3y

    Most landlords do not have a clue what they are doing and that is why in a nutshell, landlords get a bad rap, are considered cheap, inconsiderate etc.

    I own a property management company but also own my own rentals. Never understood why someone would want to self manage unless they needed a job in retirement. So many better things to do with your time than deal with tenants having absurd expectations or requests or spending time troubleshooting trivial things. Thats why you hire a PM. 

    [email protected]732-289-3823
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  • Shane Snow
    Member since 2023 · 1 post · 0 votes
    3y
    Quote from @Kirsten Wright:

    @Nathan Gesner.  Do you have any good connections in the Knoxville area? :-)

    Ronda Reed is great! (865) 951-2519
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