How Many Rentals Can One Person Actually Manage?
Summary
This BiggerPockets article discusses the practical limits of self-managing rental properties, including STRs. It explores when to hire a property manager, based on the number of units and the demands on your time. Hosts should evaluate their current management load and consider the benefits of outsourcing to free up time for asset management.
Key Insights
- •The article suggests that self-management can work with the right systems, processes, and possibly VAs, but it requires efficient systems in place.
- •One host managed approximately 68 rental doors before hiring a property manager, realizing that managing that many units was becoming overwhelming and time-consuming.
- •The article highlights the importance of asset management (upgrades, selling, investing) versus property management (tenants, maintenance), and it is suggested that asset management is more difficult to outsource.
Action Items
- ✓Hosts with a growing portfolio should evaluate whether they are essentially building a property management company. If so, they need to invest in systems, processes, and people to support it.Effort: mediumImpact: high
- ✓Hosts should assess the time they're spending on property management versus asset management. Consider hiring help with property management so you can focus on asset management.Effort: mediumImpact: medium
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