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I Don’t Need a Property Manager

house for rentHow many times I have heard that phrase.  usually from the misguided.

As a landlord, managing your own properties, do you obey all of the rules set down in the Residential Tenancy Act (RTA)?

Have you even read the RTA?

In a lot of cases, landlord’s time will be worth way more than the cost of a property manager.

I was talking to a neighbour recently and they proudly told me their son (a senior bank manager) had several rentals that he managed himself:

  • Did he live in the same town?     No
  • Was he getting market rent?       No
  • Did he have problems?                 Yes

Consider this:

A great property manager is not expensive.  Being a 24/7 role and if the rent was $400 per week, and the overall commission is 10%, the cost is:

Per week:     $40

Per day:        $5.69

Per hour:      $0.24

Now do you earn more than 24 cents per hour?

Yes this is a bit over the top, however,  it is better paying someone who knows all the RTA rules to take care of things than costing heaps when you stuff up.

Be a smart investor.

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