Lets talk Property Management

Multi-Family and Apartment Investing
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Lets talk Property Management

John Chandler
Lender · New York, NY · Member since 2026 · 10 posts · 14 votes

I think every investor eventually asks this question:

“Should I manage the property myself?”

I've done the math in my head too.

Why pay someone else when I can do it myself?

Then you get a tenant calling at 2:00 AM because something is leaking...

Suddenly that management fee doesn't look so bad. 😂

I believe self-management can make sense for some investors.

Especially when you have a small portfolio and plenty of time.

But as the portfolio grows, your time becomes part of the equation.

You have to consider:

• Tenant communication • Maintenance • Leasing • Collections • Inspections • Evictions • Vendor management • Accounting

And your sanity!!!!!!

I think there's nothing wrong with managing your own properties.

But I also believe investors should understand what their time is actually worth.

Sometimes the best investment decision isn't about saving money.

It's about buying back your time.

Think about what you can do with more time? Buy another property of course!!!!!

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Michael Eskenasy
Investor · Pacific Northwest · Member since 2026 · 511 posts · 287 votes
1w

LaTarence, if you’re on the property-management/operator side too, this is exactly the kind of network I think gets more interesting than simply trading individual deals.

We’re building around the whole real estate operating layer — owners, brokers, property managers, contractors, lenders, investors and local operators — and connecting those pieces around actual properties and opportunities instead of everyone working in separate silos. The goal is to know who operates where, what they’re good at, what they’re looking for, and who can actually execute when something shows up.

That starts becoming especially powerful with off-market situations and properties that need more than just a buyer — sometimes the missing piece is management, capital, construction, disposition, or the right local relationship.

If that overlaps with what you’re building in New York, shoot me a message. I’d like to get you into the orbit and compare notes.

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  • Michael Eskenasy
    Investor · Pacific Northwest · Member since 2026 · 511 posts · 287 votes
    1w

    LaTarence, if you’re on the property-management/operator side too, this is exactly the kind of network I think gets more interesting than simply trading individual deals.

    We’re building around the whole real estate operating layer — owners, brokers, property managers, contractors, lenders, investors and local operators — and connecting those pieces around actual properties and opportunities instead of everyone working in separate silos. The goal is to know who operates where, what they’re good at, what they’re looking for, and who can actually execute when something shows up.

    That starts becoming especially powerful with off-market situations and properties that need more than just a buyer — sometimes the missing piece is management, capital, construction, disposition, or the right local relationship.

    If that overlaps with what you’re building in New York, shoot me a message. I’d like to get you into the orbit and compare notes.

    1Reply
  • Ivan A Urquiza
    Member since 2023 · 19 posts · 9 votes
    1w

    Hey John,

    I agree the idea of self managing and sparing that 10% sounds very appealing. As you mentioned in your post it absolutely comes with some trade offs. Your time and in some unfortunate instances, your sanity as well. It only takes one bad tenant and yes suddenly that management fee does not look bad at all lol. Of course it does come down to having the right criteria and being thorough on the tenant selection process.

    I currently self manage but going forward I believe I am going to be biting the bullet and hiring a property manager. l have a small portfolio, but like you stated earlier time and piece of mind go a long way. I will say it was an incredible learning experience on what it actually takes to manage a rental unit and the associated costs of doing so. I would not shy a new investor away from self-managing, if possible of course. There a lot of very valuable insights that can be gained and can definitely aid you in future purchases! Thanks for your post man, wish you the best!

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  • Stacy RaskinBusiness Member
    Lender · Member since 2022 · 1k+ posts · 494 votes
    1w

    Hiring property management can be a great move if a real estate investor has a large enough portfolio or the investor wants to be hands off. It's important for a real estate investor and landlord to understand best practices for tenant screening, local landlord / tenant law and rental property marketing for vacancies even if a real estate investor isn't going to do those on an ongoing basis. When an investor doesn't understand best practices and processes it's not the best situation for potential success.

    From what I have seen is that it's important to get recommendations when possible from other real estate investors for property management and research options as not all real estate property management is equal. Bad management can create problems and impact ROI if tenants are not properly screened and if properties are not properly marketed to fill vacancies.

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  • Jamison Theander
    Chicago, IL · Member since 2026 · 9 posts · 3 votes
    6d

    I would add one question before deciding whether to self-manage: which decisions do you want to own, even if someone else handles the work?

    A management agreement does not replace the need for clear standards around screening, rent changes, renewals, delinquency follow-up, repairs, and owner approvals. I would ask a potential manager to show exactly how those workflows work and what gets reported to the owner. The comparison is not only the fee versus your time. It is also whether their process reduces missed follow-ups and preventable risk. That can matter even with a small portfolio.

    1Reply
  • Greg Kasmer
    Rental Property Investor · Philadelphia, PA · Member since 2021 · 770 posts · 499 votes
    6d

    @John Chandler - I like a blended approach to property management - where you have a company (i.e. Hemlane) take service calls, but there is a system/software to help manage decisions behind the scenes.

    1Reply
  • Camden Lowrance
    Investor · IN · Member since 2019 · 35 posts · 24 votes
    6d

    I manage my own properties for the same reason I do my own acquisitions and rehabs: If you want something done right, you gotta do it yourself.

    1Reply
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