If you own a rental property, you’ve probably asked yourself at some point: Do I really need a property manager? After all, how hard can it be to collect rent and schedule the occasional repair?
Plenty of landlords manage properties themselves — especially when they only have one or two units. But as your portfolio grows or your free time shrinks, working with a professional property manager can go from “nice to have” to absolutely essential.
Let’s break down what property managers actually do, what it costs, and when it’s worth every penny.
What Is a Property Manager?
A property manager is a third-party professional or company hired to handle the day-to-day operations of a rental property. They act as the buffer between you (the owner) and the tenant — handling everything from tenant placement to evictions and everything in between.
What Do Property Managers Actually Handle?
Here’s what’s typically included in full-service property management:
1. Marketing Your Rental
- Creating professional listings with photos and descriptions
- Posting to platforms like Zillow, Apartments.com, and local classifieds
- Scheduling and conducting showings
2. Tenant Screening
- Running background and credit checks
- Verifying income and employment
- Checking rental history and landlord references
- Complying with fair housing laws
3. Leasing and Move-In
- Preparing legal lease agreements
- Handling security deposits and rent collection setup
- Conducting move-in inspections and documentation
4. Rent Collection
- Automating monthly rent collection
- Enforcing due dates and late fees
- Handling payment reminders and notices
5. Maintenance and Repairs
- Responding to tenant repair requests
- Coordinating with trusted contractors
- Handling emergencies like leaks, heating issues, or lockouts
- Performing periodic inspections to catch issues early
6. Legal Compliance
- Staying up to date with local and state landlord-tenant laws
- Handling legal notices, lease violations, and compliance issues
- Keeping documentation in case of disputes or audits
7. Evictions (If Necessary)
- Issuing formal notices to vacate
- Filing paperwork with courts
- Coordinating with attorneys and local law enforcement
8. Accounting and Reporting
- Providing monthly income/expense reports
- Issuing 1099s for tax season
- Tracking maintenance costs and vendor payments
Optional Services (Depends on the Company)
- Renovation project management
- Tenant insurance programs
- Rental price optimization tools
- HOA or community management
How Much Does a Property Manager Cost?
Fees vary by location and services, but here’s what to expect:
- Monthly management fee: Typically 8%–12% of gross rent
- Leasing or placement fee: Often 50%–100% of one month’s rent
- Renewal fee: Some charge $100–$300 for lease renewals
- Maintenance markup: A small surcharge on vendor invoices (5%–10%)
Tip: Be sure to ask for a detailed fee schedule. Some companies advertise a low base rate but charge extra for essentials like inspections or tenant communication.
When Is a Property Manager Worth It?
You might not need one if:
- You only have one local unit
- You enjoy handling maintenance and communication
- You know landlord-tenant laws in your area
- You have time to manage rent, repairs, and turnover
But it’s probably time to hire one if:
- You own multiple units or live far from the property
- You’re tired of late-night maintenance calls
- You’ve had trouble with tenant screening or evictions
- You’re struggling to stay compliant with laws or accounting
- You simply value your time and want your investment to be hands-off
Benefits of Hiring a Pro
- ✅ Fewer legal risks due to non-compliance
- ✅ Shorter vacancies and better tenant placement
- ✅ Improved cash flow and documentation
- ✅ More time to focus on work, family, or growing your portfolio
Hiring the right property manager isn’t an expense — it’s an investment in protecting your asset and freeing up your time.
How to Choose a Property Manager
Look for:
- Licensed, insured, and experienced in your local market
- Clear fee structure with no hidden charges
- Online portal for owners and tenants
- Strong references and reviews
- Transparent reporting and communication practices
Tip: Don’t just ask about their services — ask how many units they manage per staff member. Overloaded managers are often slow to respond or miss issues.
Want Help Finding the Right Manager?
At Trusted in Town, we vet local property management companies based on service quality, responsiveness, and real landlord feedback. We don’t list just anyone — only the ones we’d trust with our own homes.
Reach out here and we’ll help you find a reliable property manager in your area who takes the hassle out of being a landlord.