Finding a job that works with your schedule can be difficult as a stay-at-home parent (SAHP), especially if you have several children, all with their own school and sports schedules. Working a 9-to-5 job may not be an option! That’s why many stay-at-home parents seek side hustles to make some extra money.
A side hustle is a non-traditional job that can be performed in small pockets of time throughout the day or on any type of schedule that the worker prefers. It’s ideal for people who are also busy with various family tasks and activities during the workweek.
Though you can seek a side hustle within an industry that you have training or expertise in, the beauty of a side hustle is that you can learn a new profession from scratch and see great success even if you’re brand-new to the field.
A vast majority of people don’t own their homes and therefore have to pay rent, and every rental property needs to have a property manager to oversee the transfer of tenants, take care of issues with the property, and answer tenant questions.
If you’re a SAHP looking for the perfect side hustle to suit the gaps in your schedule and make some extra cash, you should consider property management.
Property Management vs. Property Ownership: What’s the Difference?
Property owners are typically referred to as landlords, and landlords are the people who hire property managers to oversee the day-to-day maintenance tasks as they focus more on acquiring new properties or even working an entirely different job separate from their property ownership.
Whether you become a property manager or property owner typically depends on how much capital you have at your disposal. Owning a property and relegating daily maintenance tasks to a hired property manager can be a great way to earn passive income on an investment.
However, if you cannot make a significant investment, such as purchasing a property and preparing it for rent, working as a property manager can also be extremely lucrative and flexible, which is perfect for a SAHP looking for a great side hustle.
What to Consider Before Managing a Property
Though property management can be a great way to earn an income as a SAHP, it’s important to consider what responsibilities you’ll have as a property manager and whether you feel that this side hustle could fit into your life.
Your specific job description as a property manager will vary based on the type of property you’re managing and your landlord’s level of involvement in the property’s maintenance. Generally, some of the tasks you’ll be responsible for include:
- Drafting lease agreements and setting rent rates
- Collecting rent on time
- Property inspections between tenants
- Answering tenant questions
- Scheduling contractor visits to perform repairs
Though your specific responsibilities may include different tasks than these, most of the duties of a property manager lie within this range.
That’s why property management makes a great side hustle for a self-motivated SAHP who has great people skills and is willing to be on call for tenants and contractors throughout the day.
Benefits of Property Management as a Side Hustle for a SAHP
Many stay at home parents choose property management as a side hustle for its notable benefits.
Flexibility with scheduling is often the top priority for SAHP looking for a good side hustle. Stay-at-home parents want a job they can perform mostly from home or while their kids are at school.
Property management is a great example of this, as most of your responsibilities are carried out remotely — especially if you take advantage of online rent collection platforms.
Overseeing a household can be expensive, especially if you have multiple kids with various interests and hobbies.
That’s why stay-at-home parents are looking for side hustles that give them the time flexibility they desire while also providing the monthly income they need to keep everyone in their household happy and healthy. Property management is a great way to do just that.
Additionally, property management is a job that isn’t at risk of going away, as millions of people rent their housing each year. Plus, if you manage multiple properties, you can double or triple your income without too much additional time commitment.