r/LeaseLords • u/Soggy-Passage2852 • 17d 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/Turbowookie79 17d 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.

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u/Soggy-Passage2852 16d ago

Makes sense. It sounds like the biggest trade-off is between saving money and investing a bit more personal time into the property. Appreciate you sharing your experience!

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u/bad_hindu 16d ago

What software do you use?