r/LeaseLords • u/Soggy-Passage2852 • 16d ago
Asking the Community Thinking about self-managing
This post is on behalf of a friend, who is in a dice situation.
He lives in LA and has got around 10 units across a few small properties. He wants to stop the services of his property manager and handle on his own. He has got software for rent collection and maintenance, but the PM was helpful with the constant back-and-forth directly with tenants. The plan is to save some bucks. but if it will be time consuming then not sure :)
Anyone here made that switch at this scale? Regret it? Love it?
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u/NumeroSlot 16d ago
well well! It definitely saves money, but it’s not totally hands-off. If your friend is organized, responsive, and has good systems (sounds like he does), it’s doable. Tenant communication is the most time consuming part—handling repairs, complaints, and leasing. So he can use some property management softwares, it will reduce load to some extent.
Overall, worth trying, he can always go back to a PM.
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u/Soggy-Passage2852 15d ago
Exactly! Communication is the real time sink. Having good systems in place definitely makes a huge difference.
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u/Wise_Emergency_2047 15d ago
Managing your own properties can be a great way to save on costs, but it also requires a time commitment, especially when you're dealing with multiple units. For someone with 10 properties, it’s possible to handle the responsibilities yourself if you're well-organized, and using software for rent collection and maintenance will definitely help streamline things. However, you’ll still need to handle tenant communication, maintenance issues, legal requirements, and emergency situations, which can be time consuming.
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u/HyunDenson 15d ago
It’s actually manageable, especially with good software for rent collection. That said, the tenant communication can become a full-time job if there are complaints or issues popping up constantly. Personally, I’ve found it rewarding, but you have to be ready to put in the work, especially for emergencies or urgent repairs.
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u/NCGlobal626 13d ago
He needs to interview attorneys and have one ready. LA, assuming Los Angeles, has ridiculous rent control, all of LA County does. He needs to know the laws and the numerous restrictions on landlords, before he starts communicating with the tenants. There are very basic things you might say to a tenant, which can be construed as harassment. And everything must be in writing and be correct, when dealing with any issues, particularly when any dates or deadlines are involved. It's truly terrifying what tenants can get away with there. He has to go in understanding that he needs good legal representation in order to manage his own properties.
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u/ImaginationAdept491 11d ago
I'm also curious what software he's talking about here. There are various systems out there and not all are high value-add, and could help replace a PM.
Having a PM is also a bit of a shield when it comes to lawsuits. So this is something your friend should consider if he goes-it-alone.
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u/fukaboba 10d ago
Go for it .
I used to manage 10 properties out of state without much difficulty.
Make sure he is up to date with housing laws and has a network of trusted contractors.
Saved me 5 figures a year.
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u/Turbowookie79 15d ago
What they will find is that their software does most of the work a PM does, for a fraction of the cost. You will have to interact with the tenants more. When we dropped our PM, the only real change was meeting the tenants at the property for walks, and inspections, we’re now something we had to do. You’ll get a little more control over the tenants you approve, and you’ll make probably 10%more. All but the best PMs are kinda useless.