Is It Better to Self-Manage or Hire a Property Manager?
- Nate Jones, CPCU, ARM, CLCS, AU
- 5 hours ago
- 2 min read
Managing rental properties—whether it's a condo, townhome, duplex, triplex, quadplex, cabin, or vacation rental—requires time, expertise, and decision-making. One of the most important choices landlords face is whether to self-manage or hire a property manager. Each option has its advantages and drawbacks, and the right choice depends on your goals, availability, and experience.
Let’s break down the pros and cons of each approach and how Wexford Insurance can help protect your rental property no matter which path you choose.
Self-Managing Your Rental Property
Pros:
Cost Savings: You avoid property management fees, which typically range from 8–12% of monthly rent.
Full Control: You make all decisions regarding tenant selection, lease terms, maintenance, and rent collection.
Stronger Tenant Relationships: Direct communication can lead to better retention and fewer disputes.
Learning Experience: You gain hands-on knowledge of real estate investing, legal compliance, and property operations.
Cons:
Time-Consuming: Managing a rental is often a second job, especially with multiple properties.
Legal Risks: You must stay compliant with local, state, and federal laws to avoid penalties.
Stress and Burnout: Handling emergencies, evictions, and disputes can be overwhelming.
Hiring a Property Manager
Pros:
Convenience: Property managers handle tenant screening, rent collection, maintenance, and legal compliance.
Professional Expertise: They understand fair housing laws, market trends, and have vendor networks.
Reduced Vacancy: Managers use marketing tools and leasing strategies to fill units faster.
Peace of Mind: You can focus on other investments or personal priorities.
Cons:
Management Fees: Typically, 8–12% of monthly rent, plus leasing and maintenance markups.
Less Control: You delegate day-to-day decisions, which may not align with your preferences.
Quality Varies: Not all property managers offer the same level of service—vetting is essential.
How Wexford Insurance Supports All Rental Property Owners
Whether you self-manage or hire a property manager, protecting your investment is non-negotiable. Wexford Insurance offers tailored coverage for:
Condos, townhomes, cabins, duplexes, and more
Our policies cover property damage, liability claims, and loss of rental income, giving you peace of mind no matter how you manage your property.
Final Thoughts
Choosing between self-management and hiring a property manager depends on your time, budget, and comfort level with legal and operational tasks. Whichever route you take, Wexford Insurance ensures your rental property is protected—so you can focus on growth, not risk. Connect today!
FAQs
Q: How much does a property manager typically charge?
A: Most charge 8–12% of monthly rent, plus leasing fees.
Q: Is self-managing feasible for multiple properties?
A: It can be but becomes increasingly time-consuming and complex.
Q: What legal risks do self-managing landlords face?
A: Non-compliance with fair housing laws, improper evictions, and mishandled deposits.
