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Knowing that your style is unique

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The most important fact to remember is that no one will ever manage your rental property like you will. Accept that fact and then determine whether you’re cut out for property management. Remember that property management isn’t just a question of style. Ultimately, it comes down to sound, responsible practices applied equally for all your tenants.

You’re motivated more than anyone else to watch out for your real estate investments. Only you would work through the night painting your rental unit for the new tenant who’s arriving in the morning. Who else would spend a Hawaii vacation looking through the local newspaper classifieds or local rental ad books for creative ad ideas?

Be honest with yourself. Know your strengths and weaknesses as a property manager. You may find that you’re able to do the job but wind up with frazzled nerves and doubts. If you aren’t truly excited and challenged by handling your own property management tasks, you probably won’t have success managing your own property over the long run, and you may need to delegate (refer to “Delegating management activities” earlier in this chapter).

Property Management Kit For Dummies

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