Should You Self-Manage or Hire a Property Manager?

Real estate investing doesn’t have to mean answering tenant calls at midnight or chasing down late rent. Yet, many investors struggle with the question: Should I manage my properties myself or outsource to a professional property manager?

The answer depends on your experience, portfolio size, personality—and long-term goals.

1. When to Self-Manage

Self-management can save money and give you full control over your rental business.

It’s a good fit if:

• You live near the property

• You enjoy direct communication with tenants

• You’re handy or well-connected with tradespeople

• You own only 1–3 units and don’t plan to scale quickly

If you have the time and systems in place, self-management can maximize profits. Just be ready to wear multiple hats—bookkeeper, maintenance coordinator, leasing agent, and enforcer.

2. The Case for Hiring a Property Manager

A professional property manager typically charges 5–10% of gross rent (plus leasing fees).

But for many investors, that cost is well worth it. Good managers:

• Screen tenants thoroughly

• Handle maintenance efficiently

• Stay compliant with landlord-tenant laws

• Provide monthly reporting and bookkeeping

• Improve tenant retention

  
  

Hiring a property manager turns real estate into truly passive income, allowing you to scale without burnout.

3. Warning Signs It’s Time to Outsource

• You’re losing track of repairs or tenant requests

• You avoid property tasks because you’re overwhelmed

• Your units have high turnover or long vacancies

• You’ve missed deadlines, inspections, or legal notices

These signs point to operational risk—and stress. At this point, hiring a manager is an investment in your mental health and business stability.

Final Thoughts

There’s no one-size-fits-all answer. Self-managing makes sense in the beginning, especially if you want to learn the business hands-on. But if your goal is to scale, protect your time, and build a lifestyle business, a property manager may be your smartest hire.

At Greenell Capital, we guide our clients through operational strategy—whether that means building internal systems or connecting with trusted property management partners.