I have seven rental properties in my portfolio, a mix of single-family homes and a duplex. The question that keeps popping up for me is: how much of my time am I exchanging for cash flow? On the surface, everything seems to be going well – the mortgages are covered, and each property brings in a bit of positive cash flow. But once I start considering turnovers, maintenance, and all the little administrative tasks, it feels like my nights and weekends are getting swallowed up.
Up to this point, I’ve been managing everything myself. I handle payments and lease agreements through TurboTenant, and tenants use the platform to report maintenance issues, which has definitely made things more efficient. However, every time I acquire a new unit, I find myself questioning whether it’s more beneficial in the long run to hire a property manager instead of trying to do everything on my own.
I wonder if there is a specific threshold for the number of properties where it makes sense to switch to professional management, or if it’s more about personal lifestyle preferences and how much time I am willing to dedicate to property management.