[Answered Successfully] Should I act as the property manager or hire one?
How much does it cost and is it worth it?
Property management companies get paid around 10%. The best advice I have is to try doing it yourself.
It's worth a try to just to learn the ropes and to appreciate what a property manager does - especially with a difficult tenant. Great tenants are easy.
The full response to this topic could exceed a two inch book.
Regarding maintenance, collecting rent, etc… that all becomes a matter of routine.
If you get a call for maintenance, don’t ignore it. Respond within a business day (immediately if an emergency) and make the arrangements to get it taken care of…
Collecting rent? Easy too. You instruct the tenant when it is due - and usually it arrives all on its own. If not, then you need to notify them. If you can’t collect, then you evict. But most landlords don’t ever have to evict - luckily.