DIY vs. Professional: Why Do I Need a Property Manager in Indianapolis?

Mar 14, 2016 | By David Treat
Property managers help protect rental properties concept
"Listen to audio version"
2:00

When you’re deciding whether to hire a professional property manager or do the management yourself, remember why you invested in property at all. Most people invest for cash flow benefits and tax benefits, but in addition to those reasons, you invested because you want to improve the condition your life. Maybe you want to improve your life currently, with regular cash flow, or maybe you’re thinking about your life in the future, and you know it makes a good investment.

There is a cost you must be willing to pay when you’re an investor. When you do it yourself, that cost becomes your time, and you have to decide how much you value your time. There are other things you could be doing with that time when you hire a property manager.

When you do your own management, there is less time you can spend with your family. That’s the trade-off. The same things need to be done whether you’re managing the home or someone else. For the property to perform, you’ll need to make it rent ready and go through the marketing process. You’ll need to manage the application process and find a tenant, you’ll need to lease it and then take care of all the ongoing maintenance issues that are required.

Managing on your own means you have to be available to go and fix the toilet and change the circuit breakers or deal with floods that are caused by the tenant when they stop up their drains. You are on call 24/7, and that prevents you from being able to do other things.

A professional property manager does that work for you. You will pay a fee to get your time back, but it may be well worth what you can do with that time. Choose a company that can assist you with acquiring a property. That way, even with the property management costs factored in, you’ll get a more significant return on your investment than you would if you were managing yourself with a different property.

If we can help you in any way, please contact us at ES Property Management.

Similar Posts

Homeowners can use expert negotiating tips to sell my house fast
Apr 4, 2017
David Treat

Tips for Reducing Maintenance Costs with an Indianapolis Property Management Expert

You can reduce maintenance costs while protecting and growing the underlying asset value of your pro...

A house made from wooden blocks next to the words property management
Dec 5, 2023
ES Property Management

When Should I Hire a Property Manager for My Portfolio?

As you continue to grow your collection of properties, you will eventually reach a point where manag...

A signpost with four arrows, professional property management concept
Jul 20, 2023
ES Property Management

How Professional Property Management Companies Support Owners

If you own rental properties, you know they can be profitable, but they can also come with responsib...

Popular Posts

Mar 19, 2024
What Rights Do Tenants Have Without a Lease?
Mar 21, 2024
State of Indiana Eviction Process and Laws from an Indianapolis Attorney
Oct 1, 2024
Indianapolis Tenant Rights: Tenants Leaving Belongings Behind
Dec 12, 2023
Is it Legal to Create Female-Only Rentals?
Mar 22, 2024
My Tenant Has Damaged My Property: What Can You Do?