By Dave Spooner
Many small to mid-sized landlords want to self-manage their rental properties, and for good reason.
Above all, self-managing your properties means more take-home revenue—you won’t have to say goodbye to a large portion of your rental income each month to pay a property manager or company.
Another benefit is that you’ll be closer to your renters and rental operations. When you’re the one screening the tenants and hiring maintenance contractors, you always know exactly who is in and around your properties, and you’ll be the first to know of a problem.
However, there are also some cons. You’ll need to invest considerable time, energy, and effort into your properties, which not all landlords—especially those with other responsibilities like W-2 jobs or families—can do. You might also find yourself at a loss if you don’t have the knowledge required for a specific task. You’ll need to rely on yourself much more….