Managing your own investment property may seem like a cheaper and easier option, but in reality, it can be a complex and time-consuming task that requires a lot of expertise. Here are some reasons why it is a myth that managing your own property is cheaper and easier than using a property manager.
Time and expertise: Being a landlord and managing a property require a lot of time, effort and knowledge. From advertising your property to tenants, screening them, dealing with rent collection, handling complaints and maintenance and keeping up with the legal requirements. Without the knowledge and expertise of a professional property manager, you may end up spending more time and money managing your property, instead of reaping the benefits of your investment.
Legal compliance: Compliance with state and local laws is critical for landlords. Property managers have the knowledge and experience to navigate the legal requirements of the rental market, and can help ensure that your property is in compliance with fair housing and other laws. If you manage your own property, you risk facing legal penalties for non-compliance.
Cost-effective: On the surface, it might appear that managing your own property is less expensive than hiring a property manager. However, when you factor in the cost of your time, the potential legal penalties, and the risk of lost rent, it can quickly become more expensive than hiring a professional. Property managers have access to cost-effective vendors and can negotiate maintenance, repair and cleaning services at a much lower cost.
Finding and retaining good tenants: Finding good tenants and keeping them in your property can be a real challenge. Property managers are experts at marketing your property, tenant screening, and handling lease negotiations. They can also help with evictions and handle rent collections.
Better return on investment: By hiring a property manager, you can have peace of mind that your property is in good hands and that you will be able to maximize your return on investment. Property managers will be able to take care of all the details, so you can focus on other things.
In conclusion, managing your own investment property may seem like a cheaper and easier option, but it can be a complex and time-consuming task that requires a lot of expertise. Hiring a professional property manager can save you time, money, and ensure that your property is well-maintained and in compliance with all the legal requirements. It's important to remember that the goal of owning an investment property is to maximize your return on investment, not to spend all your time managing it. 
DISCLAIMER
​​​​The following advice is of a general nature only and intended as a broad guide. The advice should not be regarded as legal, financial or real estate advice. You should make your own inquiries and obtain independent professional advice tailored to your specific circumstances before making any legal, financial or real estate decisions.