Question 1

Is a property manager worth it?

Accepted Answer

It can be if you live far away, have several units, or don’t have time. Compare the fees to your time and risk.

Question 2

Can I manage one rental myself?

Accepted Answer

Many owners do. Learn your state’s landlord-tenant and fair housing rules first.

Question 3

What does a property manager do?

Accepted Answer

Finds and screens tenants, collects rent, handles repairs and tenant issues, and follows landlord-tenant and fair housing laws.

Question 4

How much do property managers charge?

Accepted Answer

Usually a percentage of monthly rent plus fees for new tenants and renewals. Get every fee in writing.

Question 5

Do property managers need a license?

Accepted Answer

Many states require a real estate license for property managers. Check your state’s rules.

Question 6

What should be in a property management agreement?

Accepted Answer

How to end it, all fees, a repair spending limit, how deposits are held, payment timing and reports, and who handles evictions.

Question 7

Can I fire my property manager?

Accepted Answer

Usually, under the agreement’s termination terms. Check notice periods and any cancellation fees.

Question 8

Am I still responsible if my property manager breaks the law?

Accepted Answer

Owners can still be responsible for how tenants are treated. Choose carefully and stay involved.

Common questions: Hiring a property manager