Housing rental

DIY Property Rental Management

Tirios Team

November 28, 2021

Table of Contents

1. Property Management: DIY or Through a company?

2. Benefits of DIY process

3. Disadvantages of DIY process

4. Benefits of property management through a company

5. Disadvantages of property management through a company

6. Tirios: DIY without the disadvantages

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Buying properties is an excellent investment for individuals to build an impressive portfolio of assets. If you wish to get the most out of your investment, you need to decide if you should DIY property rental management or hire a property management company. There are pros and cons in either situation. What works for a landlord might not work for another landlord.
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Use A Property Management Company Or Do It Yourself?

Deciding which path to choose depends upon the type of person the property owner is and their commitment level. Both options have pros and cons that the property owner needs to be aware of. To best tackle this question, we’ve outlined the advantages and disadvantages of each.
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Pros Of DIY Property Rental Management

  • Managing your rental property gives you full control.
  • Managing your rental property allows you to gain experience.
  • Managing your rental property saves you money.
  • You care for your rental property more than anyone else.
  • You will be able to avoid fraud.
  • You'll see more reasons to manage your rental property well.  

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Cons Of DIY Property Rental Management

  • It requires a big commitment.
  • Managing a rental property yourself is not an easy task.
  • You may lack the resources required to manage the rental property.
  • You may not screen new tenants properly.
  • You will be responsible for things like drawing up contracts and leasing.  
  • You'll have to face rent collection on your own.
  • Some of your mistakes can be costly without any team or systems in place.
  • You may spend more money on property maintenance.

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Pros Of Property Management Company

  • A property management company handles the billing process.
  • It will handle stressful situations.
  • It takes the emergency and repair calls from the tenants.
  • It coordinates with the service providers to get a repair fixed.
  • A property management company carries out regular inspections to ensure that the tenants take good care of their units.
  • It takes action against the tenants if they aren't adhering to the terms and conditions of the contract or aren't paying rent
  • It collects monthly rents and manages any issues that arise here.

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Cons Of Property Management Company

  • A property manager receives a percentage of your rent.
  • You have less control over your property.
  • Poor property management can create more problems rather than solutions.

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DIY Property Rental Management Without The Cons

What if we told you that you could have a DIY Property Management system in place, but without any of the cons?

With Tirios, we provide just that. Manage your property entirely from our DIY Property Rental Management Software for landlords on autopilot. Don’t pay any crazy property management fees or worry about how you are going to juggle the reality of late payments or last-minute service calls. Our property management mobile app automates these main property management job functions like managing payments and service requests from any type of provider. We have a network of carefully vetted service providers, waiting to come to the rescue. It only takes 5 minutes to onboard and 3 minutes to schedule any maintenance.

If you are deciding whether you should consider hiring a property management company or you should do it yourself, it’s a no-brainer to sign up with Tirios so that you can have control of managing your property without the responsibility of mundane and time-consuming tasks.

Download our property management mobile app at the Apple App Store or Google Play Store today.

Have more questions? Schedule a free consultation with one of our experts!

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