Should You Self-Manage Your Rental Property?

For many landlords, self-managing a rental property seems like a smart way to save money and stay in control. It can also be a great option—if you’re willing to wear multiple hats and stay on top of the details. At Light House Realty, we believe in clarity, long-term thinking, and helping owners make decisions that align with their goals. So if you’re considering going the self-management route, here are the three biggest areas you’ll need to get right.

1. It Starts with the Right Tenants

The most important decision you’ll make as a landlord is who you rent to. Great tenants are worth their weight in gold—they pay on time, communicate well, and take care of your property. But finding them means more than just posting on Zillow and hoping for the best. You’ll need a strong screening process: background checks, income verification, rental history, and often a good gut read. One misstep here can lead to months of stress or unpaid rent, so this isn’t the time to cut corners.

2. Rent Collection Isn’t Just About the Money

It sounds simple—just collect the rent each month, right? In practice, it’s about consistency, boundaries, and clear communication. You’ll need systems in place for tracking payments, sending reminders, and enforcing late fees. If rent isn’t paid on time, how quickly will you act? Are you prepared to start the legal process if necessary? When handled well, rent collection is routine. When it’s not, it can become emotional, time-consuming, and legally complicated.

3. Maintenance Requires a Plan, Not Just a Plumber

Even with the best tenants, things break. Toilets clog, furnaces stop working, and water finds the worst places to leak. Keeping up with maintenance means having trusted vendors, tracking work orders, and staying ahead of small issues before they become expensive ones. More importantly, it’s about building trust with your tenant. Responsive maintenance is one of the top reasons tenants renew their leases—and poor maintenance is one of the biggest reasons they don’t.

Need a Lighthouse in the Storm?

Self-managing is possible—and for some, it’s the right fit. But each step is more involved than it looks on the surface. At Light House Realty, we’ve sailed these seas hundreds of times and are happy to help you think it through. Whether you’re just getting started or ready to hand over the reins, reach out and let’s talk about what works best for you. Click on the button below for help navigating the decision with clarity and confidence.