What is the true cost of self-managing your investment properties?
Often, we take the value of our time for granted, even though it is the most precious resource we have. If you don't track all the time you spend managing your property it can be hard to calculate the true cost. Use this calculator to compare the costs of self-management versus hiring a property manager.
What is an hour of your time worth?
You can calculate this by using your most recent pay rate or use the average for your industry.
Time Spent Managing Your Rental
On average, how many hours do you spend each month on:
Preparing financial reports and statements?
Processing rent payments?
Photographing, writing, and listing the property on rental websites?
Phone calls with tenants, vendors, property owners, etc.?
The Cost of Hiring a Property Manager
Property Management Fee