Self-manage vs. hire a property manager
Self-managing saves 8–12% of rent but costs 5–15 hours per property per month (much more during turnovers). Hiring a PM pays for itself if you have multiple properties, are out-of-state, or value your time at more than ~$40/hour.
Self-management: you handle screening, leases, rent, calls, repairs, vendor coordination, evictions. Best for 1–5 properties in your local area with available time and a tolerance for the work.
Property management firm: 8–12% of collected rent (varies by market) + leasing fee for each new tenant (half to a full month's rent) + a markup on maintenance (10–20%). Best for out-of-state owners, multiple properties, or anyone who values time over the fee.
Hybrid: platforms like Avail, Hemlane, TurboTenant give you the systems (online applications, lease templates, rent collection) without the manager. You still do the work but it's professionalized. Useful intermediate.