Why "Property Managers Near Me" Is the Wrong Question: What Landlords Should Really Be Asking

When landlords find themselves overwhelmed by the demands of managing a rental property, the first instinct is often to search for "property managers near me." The idea of handing over the responsibilities to a local professional who can handle tenant communications, maintenance, and rent collection seems like the perfect solution. However, this approach may not always lead to the best outcomes. In fact, searching for a property manager near you might be the wrong question to ask. Here’s why, and what you should be considering instead.

1. Proximity Doesn’t Guarantee Quality

Just because a property manager is located near your rental property doesn’t mean they are the best fit for the job. Proximity can be convenient, but it should not be the primary factor in your decision-making process.

• Quality of Service Matters More: A property manager’s ability to provide high-quality service, communicate effectively, and manage your property efficiently is far more important than their physical location.
• Local Doesn’t Mean Experienced: A property manager nearby might not have the experience or expertise needed to handle the specific challenges of your property or the market it’s in.

What to Ask Instead: Instead of focusing solely on proximity, ask questions about the property manager’s experience, track record, and how they handle common challenges. Consider their communication style, their approach to tenant management, and their ability to handle maintenance issues effectively.

Take Action: To better understand what to look for in a property manager, consider enrolling in my free landlord class or downloading my free eBook for guidance on selecting the right management solution for your needs.

2. You Might Be Overlooking Self-Management

Many landlords search for property managers because they believe self-managing would be too difficult or time-consuming. However, with the right tools and knowledge, self-management can be a feasible and even preferable option.

• Cost Savings: Self-managing your property allows you to avoid the fees associated with hiring a property manager, keeping more of your rental income.
• Direct Control: When you manage your own property, you maintain full control over every aspect, from tenant selection to maintenance decisions, ensuring everything is done according to your standards.

What to Ask Instead: Rather than immediately looking for a property manager, ask yourself if self-management could be a viable option. Consider whether you have the time, resources, and willingness to take on the responsibilities.

Take Action: If you’re considering self-management but aren’t sure where to start, my online courses offer step-by-step guidance on everything from tenant screening to property maintenance.

3. The Importance of a Tailored Approach

Every rental property is unique, and what works for one landlord might not work for another. A cookie-cutter approach to property management often fails to address the specific needs of your property or your goals as a landlord.

• One-Size-Fits-All Solutions Don’t Work: Local property managers may offer standard packages that don’t take into account the specific needs of your property, leading to suboptimal results.
• Personalized Service Matters: Whether you choose to self-manage or hire a property manager, it’s important that the management approach is tailored to your property’s unique characteristics and your specific goals.

What to Ask Instead: Instead of asking for a property manager near you, ask how any potential manager (or yourself) would handle the specific needs of your property. What strategies would be employed to ensure tenant satisfaction and property upkeep?

Take Action: To develop a tailored approach to property management, whether self-managing or working with a professional, explore my free landlord class and follow me on Instagram @first_time_landlord for personalized tips and strategies.

4. The Value of Understanding the Market

A key aspect of effective property management is understanding the local rental market. While a nearby property manager might have some local knowledge, this doesn’t automatically mean they are experts in the market or that they will maximize your property’s potential.

• Market Expertise is Crucial: Effective management requires more than just being local—it requires a deep understanding of market trends, tenant demographics, and competitive rental pricing.
• Global Access to Information: In today’s digital age, a wealth of market information is available online, allowing you to make informed decisions about your property without relying solely on a local property manager.

What to Ask Instead: Ask how a property manager plans to leverage their market knowledge to benefit your property. What data do they use to set rental prices, attract quality tenants, and keep vacancy rates low?

Take Action: Equip yourself with market knowledge by exploring my online courses, which cover how to analyze rental markets and make informed decisions that maximize your investment.

5. Accountability and Trust Are Key

One of the biggest challenges landlords face with property managers is accountability. Just because a property manager is nearby doesn’t mean they will be more accountable or trustworthy.

• Trust is Earned, Not Assumed: A property manager’s proximity doesn’t guarantee they will be more accountable or transparent in their dealings.
• Importance of Clear Communication: Whether local or not, a property manager must have strong communication skills and be willing to keep you informed about your property’s status.

What to Ask Instead: Instead of focusing on location, ask how a property manager plans to maintain transparency, build trust, and keep you informed. How will they ensure accountability in their management practices?

Take Action: If you’re concerned about accountability and trust, self-managing might be the best way to ensure everything is handled to your standards. My free landlord class can help you build the skills needed to manage your property effectively and confidently.

Conclusion

While searching for "property managers near me" might seem like a logical first step, it’s important to dig deeper and consider whether this approach is truly in your best interest. Proximity alone doesn’t guarantee quality service, market expertise, or accountability. Instead, focus on asking the right questions about the quality of service, tailored management approaches, market knowledge, and accountability.

In some cases, self-managing your rental property might be the best option, offering greater control, cost savings, and a more personalized approach to managing your investment.

For more tips and resources on successful self-management or selecting the right property management solution, visit Landlord Strategy, where you can access my free eBook, free landlord class, and online courses. Follow me on Instagram @landlord_strategy for daily insights and inspiration.