I stopped paying my property manager $7,200/year — here's how I self-manage 5 units
Hey everyone,
For about two years I was paying a property manager 10% on 5 units averaging $1,200/mo. That's $600/month, $7,200/year — and honestly, I was still doing half the work. Approving maintenance, chasing updates, answering tenant questions they forwarded to me anyway.
So I fired them and went full DIY. Here's what I learned after making the switch:
The hard part isn't the work — it's the organization.
Collecting rent, tracking leases, handling maintenance requests — none of it is complicated on its own. The problem is keeping it all straight across multiple units without things slipping through the cracks. I tried the spreadsheet route. It lasted about three months before I missed a lease renewal and had a tenant go month-to-month without realizing it.
What actually helped me get organized:
- Setting up automated rent reminders so I'm not the one texting tenants on the 1st
- Having one place to see which units are paid, which are late, and which leases are expiring
- Letting tenants submit maintenance requests somewhere I can actually track them instead of random texts at 11pm
- Keeping expenses categorized all year instead of scrambling at tax time
I ended up building a tool to handle all of this because the existing options were either way too expensive or built for 200+ unit portfolios.
What's everyone else using to stay organized? Curious if I'm the only one who failed at the spreadsheet method.