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Self-managing vs. hiring a property manager: an honest comparison
· 5 min read
A quick disclosure first: I work as a property manager at Wortham Property Management, so you know where I stand. I also know plenty of owners who self-manage well. Here's the honest version of how to decide.
What self-managing actually involves
Collecting rent is the easy part. The real job is everything around it:
- Pricing the rent, marketing the home, and showing it, often on evenings and weekends.
- Screening applicants the same way every time, with written criteria, to stay on the right side of fair housing law.
- Taking repair calls, including the ones at 10 p.m. in August when the AC quits.
- Keeping up with Texas rules: repair response, rekeying locks within 7 days of every tenant turnover, smoke alarm testing at move-in, and returning deposits or sending an itemized list within 30 days of move-out.
- Handling late rent, notices and, occasionally, an eviction.
Where DIY landlords tend to lose money
In my experience the costs aren't in the obvious places:
- Vacancy. Every week a home sits empty costs a week of rent. Slow turnovers and overpriced listings add up fast.
- Screening. One bad placement can cost more in lost rent, repairs and legal fees than years of management fees.
- Deferred maintenance. Small leaks and skipped HVAC service turn into big invoices.
- Paperwork mistakes. Missing a deposit deadline or skipping a required notice can take away your options in a dispute.
Self-managing makes sense if...
- You live nearby and own one or two properties.
- You're handy, or already have reliable vendors.
- You have flexible time and don't mind the phone calls.
- You're willing to learn Texas landlord-tenant law and keep good records.
Hiring a manager makes sense if...
- You live out of town. This includes military owners who kept a home after a PCS from Sheppard.
- You own several properties, or plan to keep buying.
- Your time is better spent on your career, family or your next deal.
- You want someone else handling tenant issues and the legal details.
The right question isn't "what does management cost?" It's "what does my time cost, and what does one bad month cost?"
About fees
Most managers charge a percentage of the rent they collect, plus a leasing fee when they place a new tenant. Fee structures vary, so ask for a written proposal that spells out every charge, including renewals, maintenance markups and what happens if you cancel.
If you're weighing it for your own rental, I'm happy to walk through the numbers with you, including whether self-managing is the better call.