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Is it worth paying for a property management company vs DIY?

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Max_Builder
Joined:
02.09.2022
Posts: 2093
Topic Starter
11.01.2025 16:06
I just bought my first rental property and I'm currently debating whether to manage it myself or hire a professional company. I live about 20 minutes away, so I could handle minor repairs and showings, but I'm worried about the time commitment and legal side of things. Does anyone here have experience with the cost-benefit of property management? Is the 8-10% fee worth it for the peace of mind, or am I better off keeping that profit for myself?
20 replies in this topic
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agata_k
Joined:
14.11.2022
Posts: 1462
31.01.2025 07:24
It really depends on how much you value your time. If you have a demanding full-time job, that 10% is basically insurance against burnout.
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Stacy_B
Joined:
19.12.2019
Posts: 1358
07.02.2025 17:59
In reply to a previous post
I DIY'd for three years and honestly, the legal headaches alone made me switch to a management company. One bad tenant can cost you way more than a year of management fees.
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WhiteCrow
Joined:
17.09.2019
Posts: 176
10.02.2025 22:47
In reply to a previous post
Exactly what I was going to say! The eviction process is a nightmare if you don't know the local laws inside and out.
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Max_D
Joined:
28.08.2022
Posts: 551
09.05.2025 16:06
I manage my own four units. It's not that bad if you have a solid lease agreement and a list of reliable contractors on speed dial.
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Iva_R
Joined:
06.10.2023
Posts: 793
11.05.2025 22:01
In reply to a previous post
Do you have the stomach for late-night calls about leaking toilets? If not, pay the fee.
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advice_pro
Joined:
10.07.2022
Posts: 1472
21.06.2025 00:03
The 8-10% fee is only part of it. Don't forget they often charge extra for lease renewals, maintenance markups, and vacancy fees. Read the contract carefully.
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advice_pro
Joined:
08.09.2020
Posts: 414
15.07.2025 22:27
In reply to a previous post
Great point. My management company charges a 'setup fee' and takes half the first month's rent for finding a tenant. It adds up.
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forum_expert
Joined:
14.05.2025
Posts: 68
22.07.2025 17:36
In reply to a previous post
If you are only 20 minutes away, try managing it yourself for the first year. You can always hire a company later if you get overwhelmed.
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Lara_N
Joined:
13.05.2025
Posts: 373
14.08.2025 19:33
In reply to a previous post
I second this. You'll learn the ropes of being a landlord, which makes you a better judge of whether the property manager is actually doing their job later.
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chris_1982
Joined:
25.02.2023
Posts: 1942
18.08.2025 07:27
It also helps with tax deductions. Managing it yourself lets you claim your own labor expenses in some cases, though consult your accountant on that.
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Phil_G
Joined:
04.02.2025
Posts: 496
13.09.2025 05:23
In reply to a previous post
I tried DIY for a year and ended up hating every second of it. Paying the pros was the best investment I ever made for my mental health.
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Alice_K
Joined:
28.08.2021
Posts: 175
21.09.2025 13:26
Is it worth it? Only if you find a good company. A bad property manager is worse than no property manager at all.
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Marius_C
Joined:
06.04.2025
Posts: 1227
05.11.2025 23:43
In reply to a previous post
Absolutely agree. I had a company that didn't screen tenants properly and left me with a trashed unit. Vet them like you're hiring an employee.
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Expert_11
Joined:
07.05.2022
Posts: 2217
10.12.2025 21:12
I treat it like a business. I pay the 10% because I want to be a passive investor, not a landlord.
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jacek_pl
Joined:
27.02.2025
Posts: 540
19.12.2025 17:38
In reply to a previous post
That's the right mindset. If you want to scale to more properties, you can't be doing the repairs yourself anyway.
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tech_geek
Joined:
10.09.2025
Posts: 1115
03.01.2026 06:28
If you decide to DIY, just make sure you use a professional portal for rent collection. It keeps everything documented and professional.
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simon_v
Joined:
07.11.2025
Posts: 1116
10.01.2026 08:55
In reply to a previous post
What portal do you recommend? I've been using Zillow Rental Manager and it's been okay so far.
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Selector
Joined:
01.07.2025
Posts: 849
17.01.2026 11:40
In reply to a previous post
I use Avail. It makes the legal side of things much easier since they provide state-specific lease templates.
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GoldenHands
Joined:
21.04.2023
Posts: 1906
14.02.2026 14:13
I think 20 minutes is the 'sweet spot' for DIY. Any further and it becomes a massive pain.
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Marius_C
Joined:
11.03.2023
Posts: 2071
14.03.2026 20:04
In reply to a previous post
I'm an hour away from my rental and I still manage it myself. It's doable, but you need a very good handyman in that area.

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