Self Manage or Hire a Property Manager?
Self-Manage vs.Property Manager?
Every Investor will ask this question at some time or another… Questions to ask yourself…
Time
Patience
Laws
Knowledge
Do you have the time?
Availability?
Property Marketing
Showings
Applications Processing
Leasing
Move-In Inspections
Move-Out Inspections
Routine Inspections
Maintenance Requests
Rent Collection
Rent Court
Lease Violation Court
Actual Evictions
Security Deposits
Financial Reporting
Investor P&L
Resident Statement
Emergencies
How much is your time worth to you?
Hourly Rate?
Sacrifice?
Other Income Opportunity
Family Time
Important Events
Personal Time
Hobbies
Do you have the patience?
What are the qualities of patience? Patience may involve perseverance in the face of delay; tolerance of provocation without responding in disrespect/anger; or forbearance when under strain, especially when faced with longer-term difficulties, or being able to wait for a long amount of time without getting irritated or bored.
Do you know the laws?
Fair Housing Laws
Protected Classes
Service Animals
HUD Investigation
Lead Based Paint
Smoke Detector / CO Laws
Knox Box
Security Deposit Returns
Receipts?
Timeline?
Penalties?
Rent Court
Rent Escrow Court
Lease Violation Court
Evictions Process
Do you Have the Knowledge?
Marketing Property
Pre-Qualification Questions
Applicant Approval Criteria (Compliant)
Lease Agreement
What repairs are required / cosmetic?
And so much more…
Self-Manage or Hire a Property Manager?
Time
Patience
Laws
Knowledge
East Coast Real Estate Group, LLC
💻 www.ECREG.com
📱 240-397-5686
📧 [email protected]
Proudly Serving Frederick, Washington, Berkeley and Jefferson Counties.
(MD and WV)