Hiring a Property Manager vs. Self-Managing: What’s Better?
Purchasing a property and converting it into a rental unit is the first step to financial freedom. The next would be deciding on the management aspect. Are you up for the duties of a self-managing landlord? Would you rather hire a more experienced property management company? This isn’t a question that can easily be answered without reservations. Property management entails a bundle of services and high expectations from tenants. It’s best to discuss both the advantages and disadvantages of self-management and hiring a third-party property manager. Self-Management: Pros 1. Financial savings As a property owner, your money goes towards paying…