TL;DR: Self-manage when you have 1-5 local properties and can handle maintenance calls. Hire a property manager when you have 5+ units, invest out of state, or value time over money. Typical PM fees are 8-10% of monthly rent. Ensure any PM has Section 8 experience — not all do.
Self-Management: Pros and Cons
Pros: Save 8-10% management fees, direct tenant relationships, faster response to issues, full control over screening and maintenance quality.
Cons: Time commitment (5-10 hours/month per property), must be available for maintenance emergencies, requires local presence for inspections.
When to Hire a Property Manager
- You own 5+ units and management is becoming a second job
- You invest in markets outside your local area
- You prefer passive income over hands-on management
- You're scaling rapidly and need professional systems
Choosing a Section 8 Property Manager
Not all PMs understand Section 8. When interviewing companies, ask:
- How many Section 8 properties do you currently manage?
- Are you familiar with HQS inspection requirements?
- Do you handle PHA communication and paperwork?
- What's your process for annual inspection preparation?
Frequently Asked Questions
What do property managers charge?
Typical fees: 8-10% of monthly rent, plus a tenant placement fee of 50-100% of one month's rent for new tenants. Some charge flat monthly rates instead.