Detroit Property Manager or Landlord w/House Hack

Rental Property Investor · Detroit, MI · Member since 2018 · 15 posts · 4 votes

Hey BP Family,

Wanted to know if you all could share your opinions and thoughts on being a landlord vs hiring a management company. My main concern is trusting them to screen the tenants and choosing them since I’ll be living above them in a duplex.

Do you all know if I have the opportunity to let them know what requirements I want to set for rental qualifications?

Also is there a management company near the Detroit area you would recommend from experience?

Any and all comments/feedback is helpful.

Thanks,

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Drew SygitBusiness Member

Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes

@Brandon Johnson there is some truth to what the others have posted, but with caveats.

No one will CARE about your rental as much as you do! We manage for several owners that recognized they were NOT cut out to deal with tenants, so they hired a PMC. Many PMC's are better than owners at screening prospects, chasing part due rent, evictions, etc.

So, if you know you want to be an invested, but don't want to deal with tenants, there is nothing wrong with that.

[email protected]248-209-6824

Logical Property Management4.9458 Reviews

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Paul S.
Member since 2019 · 248 posts · 248 votes
6y
No one is going to care about your property like you will.... period
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Travis Biziorek
Investor · Arroyo Grande, CA · Member since 2014 · 1k+ posts · 1k+ votes
6y
Originally posted by @Brandon Johnson:
Hey BP Family,
Wanted to know if you all could share your opinions and thoughts on being a landlord vs hiring a management company. My main concern is trusting them to screen the tenants and choosing them since I’ll be living above them in a duplex.
Do you all know if I have the opportunity to let them know what requirements I want to set for rental qualifications?
Also is there a management company near the Detroit area you would recommend from experience?
Any and all comments/feedback is helpful.
Thanks,

If you're out of state and investing in a duplex... I get the need for a property manager.
But you're talking about house hacking. Why WOULDN'T you want to manage it yourself?! The only excuse would be you're lazy or really don't want to get into RE because you're afraid to get your hands dirty.
Managing your own properties, like Paul said, is always better than someone else. Nobody will choose a tenant like you will, nobody will care for your home like you will, etc. etc. If you're scared to be a landlord and gain all the valuable knowledge that comes along with that, this business likely isn't for you.
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Drew SygitBusiness Member
Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
6y
@Brandon Johnson there is some truth to what the others have posted, but with caveats.
No one will CARE about your rental as much as you do! We manage for several owners that recognized they were NOT cut out to deal with tenants, so they hired a PMC. Many PMC's are better than owners at screening prospects, chasing part due rent, evictions, etc.
So, if you know you want to be an invested, but don't want to deal with tenants, there is nothing wrong with that.
[email protected]248-209-6824
Logical Property Management4.9458 Reviews
Website View Page
1 Reply

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