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Becoming a landlord isn’t always part of the plan. If you’ve inherited a property, relocated for work, or couldn’t sell your home in a slow market, you might find yourself in the position of an accidental landlord. Managing a rental property can be rewarding, but it also comes with challenges. The big question is: should you hire a property manager, or handle it yourself?

In this guide, we’ll explore the pros and cons of hiring a property manager and help you determine if professional management is the right choice for you.

 

A property manager takes on the responsibilities of managing a rental property, handling everything from tenant screening to maintenance and rent collection. Their primary goal is to streamline operations and maximize rental income while minimizing landlord stress.

Common Responsibilities of a Property Manager:
- Marketing and listing rental properties
- Screening potential tenants
- Collecting rent and handling late payments
- Managing maintenance and repair requests
- Handling tenant complaints and lease violations
- Navigating legal and eviction processes

If you’re new to property management or simply don’t have the time to manage tenants and maintenance issues, hiring a property manager can be a smart investment. Here’s why:

 

1. Saves You Time and Effort
Managing a rental property requires constant attention. A property manager handles the day-to-day operations, so you don’t have to worry about late-night maintenance calls or chasing down rent payments.

2. Finds and Retains Quality Tenants
A professional property manager has experience with tenant screening, which reduces the risk of renting to unreliable tenants. They check credit reports, rental history, and employment verification to ensure you get responsible renters.

 

3. Handles Maintenance and Repairs
From leaky faucets to major repairs, property managers coordinate routine maintenance and emergency fixes with trusted contractors, ensuring your property stays in top shape.

4. Legal Expertise and Compliance
Property managers understand rental laws, eviction processes, and lease agreements, helping you avoid costly legal mistakes.

5. Reduces Vacancy Rates
A skilled property manager markets your property effectively, reducing the time it sits vacant and ensuring a steady stream of rental income.

While a property manager can be beneficial, there are downsides to consider.

1. Management Fees
Property management services typically cost 8-12% of your monthly rental income. This can cut into your profits, especially if your margins are tight.

2. Less Control Over Your Property
If you prefer a hands-on approach, hiring a property manager means you’ll have less direct involvement in tenant selection and decision-making.

3. Quality of Service Can Vary
Not all property managers offer the same level of service. Choosing the wrong one can lead to mismanagement, delayed repairs, or tenant dissatisfaction.

A property manager might be the right choice if:
- You live far away from your rental property
- You have multiple rental units
- You don’t have time for day-to-day management
- You’re unfamiliar with tenant laws and regulations
- You want a hands-off investment experience

If you have one or two properties and enjoy the hands-on aspect of managing tenants, you might save money by handling the responsibilities yourself. Self-managing works well if:
- You live near your rental and can respond quickly to tenant needs
- You have the time and knowledge to manage leases and maintenance
- You want to maximize your rental income without management fees

Being a landlord comes with its share of challenges, but hiring a property manager can ease the burden and keep your rental running smoothly. If you value convenience, legal expertise, and efficient tenant management, investing in a property manager may be well worth the cost.
However, if you prefer a hands-on approach and want to maximize profits, self-management could be a great option. Weigh the pros and cons carefully, and choose what aligns best with your goals as an accidental landlord.