Module 5: Managing Your Properties

Great property management protects your investment, maximizes income, and minimizes stress. Poor management can turn a great deal into a nightmare.

To Self-Manage or Hire?

Self-management works well if you're local, have fewer than 5 units, and enjoy tenant relationships. Hire a property manager when you scale beyond 5 units, invest remotely, or your time is better spent acquiring new properties. Budget 8–10% of gross rents for professional management.

Tenant Screening Process

1. Credit check: Look for score, payment history, and prior evictions.
2. Income verification: Require 3x monthly rent in gross income.
3. Employment verification: Contact employer directly.
4. Rental history: Call prior landlords (not just current — they may sugarcoat to get rid of a problem tenant).
5. Criminal background check: Follow Fair Housing Act guidelines.