4 of 9

Write now Article Tools

Page 3 of 3

issues before they escalate.

"How do you like me now"
You can bring home the bacon and fry it up in a pan...you sure are handy! If you are the fix it type you can save a bundle on repair costs. Property Management companies have pricey contractor's that usually charge by the hour, not the job. So a simple running toilet can cost over a $100.00. You can further save on repairs by already having a handy person in line to maintain your rental. Most local newspapers have a Handyman section for just such business needs.

"How many lawyers does it take to...."
If you do need to take a tenant to court you may be able to represent yourself, otherwise, there are non-profit agencies that may be able to help you through the legal jargon. Property Management attorney's can, shall we say, be cost prohibitive. They tend to draw cases out more, where you may be able to settle the matter in civil court, representing yourself.

Obviously, you have a perceived opportunity to save money if you can manage the property tasks yourself. So be honest with your time availability and desire to deal with tenants. Looking after a rental can be exhausting work. And then there's the old saying "sometimes, you have to spend a little to make a little." Basically, it boils down to money and time. Clearly there are benefits on both sides. You need to realistically evaluate your abilities and financial needs to make this important decision. Review the information above and I am confident that you will make the right choice.
"...rooms to rent 50 cents....."

Learn more about this author, Noreen Dayton.
Click here to send this author comments or questions.

• << previous page
• 1
• 2
• 3

Add your voice

Know something about A guide to renting out your second home: Pros and cons of having a property manager?
We want to hear your view. Write now!