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Why I Fired Property Management—And Began to Manage My Own Investments

Download Your FREE copy of ‘How to Rent Your House! Renting your house is a great way to enter the world of real estate investing, but most first-timers (understandably) have a lot of questions. Services That Property Management Offers We planned to hire a property manager who could take care of these rental properties, allowing us not to be the “evil landlords.” We hoped to focus on our existing management and sit back and collect checks from our new found teammates in these managers. First, let me give you some bullet points about the services that these property management companies offer: They take care of finding and placing tenants in your investment property. They carry out regular inspections of the property to ensure that the tenants are taking good care of them. They take action against the tenants if they aren’t paying rent or adhering to the terms and conditions of the contract. Based on the time it would take us and the learning curve we thought there was at the time, we felt it was a no brainer. No One Cares About Your Properties Like You Do Eventually, we figured out that we won’t be able to find any management company that cares about our properties the way we do and has the insight or maybe even the expertise that we quickly picked up on. I still often meet property managers who don’t even own property or ever have. I can’t take credit for this quote I heard on BiggerPockets, but it sticks in my mind: “An average investment with a great property manager is far better than a great investment with a bad property manager.