# Hiring a property manager for your rental > Property managers find and screen tenants, collect rent, handle repairs and follow landlord-tenant and fair housing laws. Most charge a monthly share of rent plus fees for new tenants and renewals; ask about repair markups. Many states require a real estate license, so check it, along with references and reviews. Read the agreement for how to end it, a repair spending limit, and a separate trust account for deposits. Review monthly statements. - URL: https://explained.page/hiring-a-property-manager - Language: en - Last checked: 2026-10-29 - Watch the 1-minute animated guide: https://explained.page/watch?start=hiring-a-property-manager ## Step by step 1. **Renting out a home and thinking about a property manager?** A good one saves time and headaches. A bad one costs you. Here’s how to choose. 2. **Know what they do.** Find and screen tenants, collect rent, handle repairs and complaints, and follow landlord-tenant and fair housing laws. 3. **Understand every fee.** Most charge a monthly share of the rent plus fees for new tenants and renewals. Ask about markups on repairs and any hidden charges. 4. **Check them out.** Many states require property managers to hold a real estate license. Ask for references from other owners and read reviews. 5. **Read the agreement closely.** Check how you can end it, how much they can spend on repairs without asking you, and that tenant deposits are kept in a separate trust account. 6. **Stay involved.** Expect clear monthly statements, and review them. You’re still responsible for the property and how tenants are treated. ## Checklist - Know what they do - Understand every fee - Check license and references - Read how to end the agreement - Set a repair spending limit - Review monthly statements ## What they do - Market the property, show it, and screen tenants fairly. - Collect rent and handle late payments. - Arrange repairs and maintenance. - Handle tenant questions, move-ins and move-outs. - Follow landlord-tenant, deposit and fair housing laws. ## Fees Common fees include a monthly percentage of collected rent, a fee for placing a new tenant, lease renewal fees, and sometimes markups on repairs or fees for vacancies. Get every fee in writing. ## Check them out Many states require property managers to hold a real estate broker or salesperson license. Verify it, ask for references from current owners, and read reviews. ## The management agreement Look for: - How and when either side can end the agreement, and any cancellation fee. - A spending limit for repairs without your approval. - Tenant security deposits held in a separate trust account. - How fast they pay you and what reports you get. - Who handles evictions and legal costs. ## Stay involved Review monthly statements and visit the property sometimes. You’re still responsible for the property and how tenants are treated under the law. ## Common questions ### Is a property manager worth it? It can be if you live far away, have several units, or don’t have time. Compare the fees to your time and risk. Source page: https://explained.page/hiring-a-property-manager/questions/is-a-property-manager-worth-it ### Can I manage one rental myself? Many owners do. Learn your state’s landlord-tenant and fair housing rules first. Source page: https://explained.page/hiring-a-property-manager/questions/can-i-manage-one-rental-myself ### What does a property manager do? Finds and screens tenants, collects rent, handles repairs and tenant issues, and follows landlord-tenant and fair housing laws. Source page: https://explained.page/hiring-a-property-manager/questions/what-does-a-property-manager-do ### How much do property managers charge? Usually a percentage of monthly rent plus fees for new tenants and renewals. Get every fee in writing. Source page: https://explained.page/hiring-a-property-manager/questions/how-much-do-property-managers-charge ### Do property managers need a license? Many states require a real estate license for property managers. Check your state’s rules. Source page: https://explained.page/hiring-a-property-manager/questions/do-property-managers-need-a-license ### What should be in a property management agreement? How to end it, all fees, a repair spending limit, how deposits are held, payment timing and reports, and who handles evictions. Source page: https://explained.page/hiring-a-property-manager/questions/what-should-be-in-a-property-management-agreement ### Can I fire my property manager? Usually, under the agreement’s termination terms. Check notice periods and any cancellation fees. Source page: https://explained.page/hiring-a-property-manager/questions/can-i-fire-my-property-manager ### Am I still responsible if my property manager breaks the law? Owners can still be responsible for how tenants are treated. Choose carefully and stay involved. Source page: https://explained.page/hiring-a-property-manager/questions/am-i-still-responsible-if-my-property-manager-breaks-the-law ## Official sources - [HUD: fair housing for landlords](https://www.hud.gov/) - [IRS: rental income and expenses](https://www.irs.gov/) To find your local office, search for: - "[your state] property manager license requirement" - "[your state] landlord tenant handbook" --- General information, not legal or professional advice. Rules differ by state. From explained.page (www.explained.page). Life’s stuff, explained simply.