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Should I do my own Property Management or contract it out?
This is a question that every buy to let property investor or accidental landlord has asked themselves at some point.
There is no right or wrong answer to this question as it depends on a variety of circumstances.
I’ve been investing into property since 1989 and have a portfolio that stretches North to South, East to West of England. Whilst I’ve managed my properties myself, I’ve also used agents. Now that my brother has set up a Lettings Agency to manage our family portfolio he looks after most of them but we do still contract managing agents occasionally.
So what are the deciding factors on whether to manage your own portfolio or to contract the work out?
This is my list of considerations, if you can think of others please add them to the comments section below:-
The answers to these types of questions will significantly influence my decision. However, there’s another set of questions:
There are some relatively easy ways to check out a Property Management company as follows:-
For several years I managed my own properties and I still take an active interest in the local ones, even though my brother does most of the hard work these days. I’m writing an eBook on how I manage my properties, you will find some interesting ideas here.
I’m always interested to learn more so please leave any comments or feedback in the section below.
If you offer a service to property investors, whether it is Property Management or any other service which is of use to landlords, we are very keen to offer you in a free listing in our Business Directory.
To learn more about my property investment strategy please read the following posts in this order:
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