Self-Manage or Hire a PM? I Need Your Input

[Damani Tilton]

Hi, all, 

I invest in single-family and small multifamily properties, and like many of you, I’ve worn all the hats: screening tenants, handling maintenance calls, tracking down late rent, and everything in between.

Lately, I’ve been exploring how technology could help streamline some of the day-to-day challenges that come with managing rental properties; especially as portfolios grow. I’m not here to pitch anything. I’m still in the early stages of understanding what actually works, what doesn’t, and where the biggest gaps are.

That’s why I’m reaching out to the investor community. I’d love to hear your perspective:

• Do you currently work with a property manager? What do they do well, and where have they fallen short?

• If you’ve chosen to manage your rentals yourself, what led to that decision? Was it about control, cost, trust, or something else?

I’m trying to get a clearer picture of how investors are navigating property management today. There are a lot of assumptions floating around about what landlords want or need and I have my own thoughts, but I’d rather hear it directly from people who are in the trenches.

Feel free to share your experience in the comments, DMs, or we can set up a quick call; whatever’s easiest. I really appreciate any time or insight you’re willing to offer.

Thanks!

[Ryan Spath]

Hey, great conversation!

For perspective, we currently self-manage a dozen doors across two states. While we’ve used a property manager in the past, we now handle everything in-house for a couple of key reasons:

1. Faster and cheaper turnovers – Using our own vetted subcontractors allows us to turn units more quickly and cost-effectively.
2. Maximized rent potential – We’ve found that when we self-manage, rents stay closer to market rates. When we’ve used property managers in the past, they often discouraged raising rents to market levels. I’ve noticed the same pattern when helping clients purchase tenant-occupied, PM-managed properties.

We’ve kept our systems simple. For the past 10 years, we’ve used spreadsheets and ScheduleMyRent.com for rent collection. I’m currently exploring RentRedi as a more complete platform for rent collection, lease signing, and communication. Based on what we have learned so far this one may be the winner for us, I am currently trying this with one property as it is turning and will likely convert more as they turn/renew.

One of our current goals is to implement secure self-access for tenant viewings. This has become one of my biggest time sinks—especially when a unit is 30 minutes away, and a prospect cancels last-minute.

Early on, I valued meeting tenants in person—seeing how they maintained their car, getting a feel for them. Over time, I’ve realized that credit, income, and references are just as telling as an in-person impression. People are people, and keeping the process efficient helps everyone involved.