At what point does it make sense to hire a property manager if I’m buying a rental property outright and will have another rental ready next year (total 2)? Both are new builds so don’t anticipate lot of repair work in the first few years. Main concern is finding tenant in a timely manner. Is a property manager worth it for finding a tenant or is it something individuals can do it by themselves relatively easily?

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You can use a property manager to just find a tenant without having them manage the property. Really depends how much time you have to put into this and what value of outsourcing the work means to you

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Are the homes near you? If they are local, I don’t think a property manager is worth the cost.

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I don’t think so. I use Craig’s list and Facebook and haven’t had vacancies.

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Don’t waste money on a property manager. Have a reliable handyman (or two) on call and find your own tenant as long as you’re somewhat local.

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Makes sense. Looking into it as well! Thanks.

We had our realtor find our first tenant for us and it cost half of one month’s rent. They found an amazing tenant who stayed with us for multiple years so I felt like it was pretty worth it, ymmv - but yes you can do it yourself also, it’s not too much work, just stick to your guns on choosing the best tenant and personally I find it better to not rent at all if you find them questionable esp in tenant-friendly states

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Thanks for your insight. I might have to discuss with my agent too as he’s investor friendly.

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