Self-Manage or Hire a Property Manager? How to Decide
By LandlordShark Editorial Team · Published · Last reviewed November 1, 2026
General information, not legal advice
Landlord-tenant rules differ by state and city. Check your local statutes or talk to a licensed attorney before acting. Full disclaimer.Many small landlords start by managing their own properties, then wonder whether to hand it off. The right answer depends on your time, your distance from the property, and how many units you own. This guide helps you decide with clear eyes.
What a property manager does
A full-service manager typically handles:
- Marketing the unit and showing it
- Screening applicants
- Preparing and signing leases
- Collecting rent and pursuing late payments
- Coordinating maintenance and vendors
- Handling move-in and move-out inspections
- Managing the security deposit
- Starting the eviction process when needed
Services and fees vary, so read the proposal closely.
Typical costs
Fees differ by market and property type, but common structures include:
| Fee | Typical form |
|---|---|
| Monthly management | A percentage of collected rent |
| Leasing or tenant placement | Often a portion of one month’s rent |
| Lease renewal | A flat fee or smaller percentage |
| Maintenance coordination | Sometimes a markup or fee on repairs |
| Eviction or legal handling | Additional fees |
Ask for the full fee schedule in writing, and ask what is not included.
Add up your own time
Self-managing is not free. Track the hours you spend on showings, calls, repairs, paperwork, and bookkeeping. Multiply by what your time is worth to you. For one nearby unit with a long-term tenant, the time may be small. For several units, long distances, or a busy day job, it adds up fast.
Signs it may be time to hire help
- You live far from the property.
- You own several units and spend evenings on repairs and calls.
- You find confrontation or collections stressful.
- You are unsure about local rules and want a professional who knows them.
- Your city or county requires a local contact or agent for rental owners who live far away, and you have no one nearby to serve.
Signs self-managing still works
- You have one or two units close to home.
- You like the work and have reliable vendors.
- You have systems for screening, rent collection, and maintenance.
A middle path
You can hire for pieces of the job only, such as tenant placement, or use an hourly handyman and an online rent-collection platform while keeping day-to-day control.
Questions to ask a manager
- Are you licensed where required in this state? Many states require a real estate or property management license for people who manage rentals for others, so check with your state licensing agency.
- How many properties do you manage, and what are the typical ones?
- How do you screen tenants, and what are your criteria?
- How quickly do you respond to maintenance requests, and who approves spending limits?
- How do you hold and account for deposits and rent?
- What are all fees, and how do I end the contract?
- Can I speak with current owner clients?
Read the contract
Look at the term, termination clause, who owns tenant records, spending authority, and insurance requirements. Have an attorney review it if you can.
Note
Management fees are generally a deductible rental expense (IRS Publication 527 lists them among common rental expenses). See our tax deductions guide.