Should You Self-Manage Your Rental Property?

If you’re a landlord, you get to decide whether to self-manage your rental property or hire a property manager. You already have enough on your plate, especially if you manage multiple properties. While hiring a property manager can help free up your time and give you peace of mind, it will also cost you some money.

Pros and Cons of Self-Management

The idea of managing your own rental property may be appealing, especially if you’ve seen how much property managers charge each month and how little they might do. You can save a lot of money by doing it yourself, but there are factors to consider before deciding that managing your own rental is right for you.

Pro: Save Money

The number one reason most people choose a self-manage rental is that they want to save money. Whether you’re a new landlord or have been renting for years, saving money is always a good thing. 

If you have multiple investment properties, the savings from management fees could mean the difference between making a profit or breaking even each month.

Pro: Do Things Your Way

You can do things your way with a self-manage rental. When you hire another person or company to manage your rental property, rules, procedures, and policies are up to their discretion.

If you decide to manage the rental yourself, you get to call the shots. You can handle things however you want, which allows for more flexibility in how your property runs.

Con: It’s Time-Consuming

Running a self-manage rental means you have to spend significant time finding and screening tenants, collecting rent, handling maintenance calls, and responding to after-hours emergencies. 

Property managers have tools and systems in place to handle these tasks efficiently. This is something to consider for property owners who work full time, live far from their rental properties, or have multiple units to manage.

Con: It’s Inconvenient

If you don’t live near your property, managing it yourself can become a major hassle. Think about it. If you have multiple properties, do you really want to drive around town all day checking on each one? Who’s going to collect rent and deal with late payments? What about repair requests and other maintenance work?

Additionally, managing a property yourself may limit your personal time, making travel or leisure activities more difficult.

Pros and Cons of Hiring a Property Manager

A property manager can take care of all the nitty-gritty details of landlording for you—for a fee, of course. How do you know if paying that fee is worth it, or if you should consider running a self-manage rental?

Pro: Time Saver

When you add up all the time you spend dealing with tenants, collecting rent, and performing routine maintenance on your rental property, you might find that hiring a property manager makes sense.

There are many ways in which hiring a property manager could save you time:

  • Handle rent collection and late-rent notices
  • Advertise vacant units
  • Show units to prospective tenants
  • Handle move-in and move-out inspections
  • Perform routine maintenance and repairs

By hiring a property manager, you can use your time to manage projects outside the scope of your rentals. 

Pro: Professional Mediator

One of the biggest advantages to hiring a property manager is the buffer they offer between you and your tenants. They handle all communication related to rent payments, maintenance requests, complaints, and other issues that might arise.

Con: Cost

If you’re a landlord, you have to consider how much your time is worth. Is it worth more than what a property manager charges? If you determine that property manager fees won’t fit into your budget, self-management may be your best bet. 

Con: Less Direct Control over Your Property

While a property manager can use their experience to attract the best tenants to your property, work to mediate conflicts, and arrange repair services, it means you will have less control over the direct operations of your rental. 

You need to choose a property manager you trust, if you choose to hire one. You want their decisions to align with your expectations. 

Leveraging Property Management Software for a Self-Manage Rental

If you’re considering self-managing your rental property, you might want to think about using property management software. Industry-specific property management software like PayRent is designed specifically for the needs of landlords and property managers.


Start collecting rent online in less than 5 minutes.
  • Control when and how renters pay you
  • Automatically remind tenants when rent is due
  • Accept bank transfers and credit cards

**Blog Article Disclaimer*

This blog article is provided for informational purposes only and does not constitute legal advice. The content is intended to offer general information and should not be relied upon as a substitute for professional legal advice tailored to your specific circumstances.

While we strive to keep the information accurate and up-to-date, laws and regulations are subject to change, and the legal landscape may vary based on jurisdiction. Therefore, we make no representations or warranties regarding the completeness, accuracy, reliability, or suitability of the information contained in this article.

Reading, accessing, or using the information provided in this blog does not create an attorney-client relationship between the reader and the author, and any reliance on the information is at your own risk. If you require legal advice or assistance, it is crucial to consult with a qualified attorney who can consider the specifics of your situation and provide advice accordingly.

The author and the platform disclaim any liability for any loss or damage incurred by individuals or entities as a result of the information presented in this blog. We recommend consulting a legal professional before making decisions or taking action based on the information provided in this article.

This disclaimer is subject to change without notice, and it is the responsibility of the reader to review and understand the disclaimer before relying on the information contained in the blog article.

PayRent is on a mission to build a rent collection app that fosters a positive and productive relationship between renters and landlords. We focus less on transactions and more on the people behind them.


Subscribe to Our
Email Newsletter

Receive timely and relevant articles directly to your email inbox.
You can unsubscribe anytime.
We respect your privacy


Start collecting rent online in less than 5 minutes.
  • Control when and how renters pay you
  • Automatically remind tenants when rent is due
  • Accept bank transfers and credit cards

Discover the Truth About UFOs

Top secret documents reveal ET encounters the government has been hiding
freshmarketer CTA

Donate Today

To the Center for Kids Who Can't Read Good

Protect Yourself From Robots

Smart seniors get their robot insurance from Old Glory Insurance
freshsales CTA

Interested in PayRent?

Get a custom price quote when you schedule a demo.
*We won't share your information outside of our company

Protect Your Evictions

PayRent gives landlords the control to block
all or partial payments from their renters.

Protect Your Privacy

PayRent allows landlords to accept payments without
ever sharing their personal information with tenants.

Automatic Rent Reporting

PayRent reports rent payments to
all 3 credit bureaus at no extra cost.

Track Renter’s Insurance

Require Insurance and Track Documents with PayRent

Accept Credit Cards

PayRent makes it easy for Landlords to accept
Bank Transfers and Credit Cards.

Save Time With PayRent

Automate invoices, payments, receipts, late charges
and credit reporting with PayRent

Find This Useful?
Share it!

Like and Follow Us on Your Favorite Social Platforms