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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Not a 25 words or less answer. This is a specialty and not for part time or amateurs. If youy are serious the number you need to focus on is at least 300 properties for this to be worth while. Also know that in my state the number 2 compalints to the real estate commission after money issues is property management screw ups.

May 25, 2016 09:30 AM
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Not a quick or short answer - I've done it, for mysellf and had a business doing it and let me tell you, I couldn't wait to hand it off to someone else.

May 25, 2016 10:22 PM
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Some days it can be profitable and rewarding.

Other days you have a government person or renter picking your pocket.

May 25, 2016 08:59 PM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Getting prone calls at 2 in the morning that something is broke.

May 25, 2016 10:27 AM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

    You need a lot of properties to make a living in property management.  Joe Pryor mentioned 300 properties in his comment.  I will ditto that!

   Oh, you will also need access to an excellent real estate attorney, to ensure legal compliance with state and local laws, and to deal with bad tenants. 

May 25, 2016 09:50 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Dealing with tenants, not paying, and the calls in the middle of the night for repairs.

May 30, 2016 12:20 AM
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

Low return on your time investment.  Been there, done that!

May 26, 2016 09:48 AM
Ryan Huggins - Thousand Oaks, CA - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I manage my own rentals.  For the vast majority of the time, they are "set and forget".  The checks roll in and I don't hear much or anything from the tenants.

May 26, 2016 05:02 AM
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

such high maintenance phases of real estate.... very high...

May 26, 2016 12:57 AM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

For those that know how and have the skills bank, it works very well. For those that don't, it works you over good. Been doing PM for decades

May 25, 2016 11:52 PM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Tamra Lee Ulmer A thankless job that carries a lot of liability.

May 25, 2016 10:50 PM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Pro is income if you have a lot of properties, con is lots of time, low pay for just a few and often liability and danger if rent collecting and evicting. 

May 25, 2016 10:33 PM
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

I can't think of any pros!! 

May 25, 2016 10:32 PM
Susan Laxson CRS
Palm Properties - La Quinta, CA
Realtor in San Diego, CA & Naples, FL

Our company, as do others in our area, frowns on agents doing property management or even rentals. I guess the liability is too much for them and we are strongly encouraged to use companies that specialize in those fields.

May 25, 2016 10:04 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

The others have anwere.

May 25, 2016 09:33 PM
Roy Kelley
Retired - Gaithersburg, MD

Property management is a good business.

May 25, 2016 08:50 PM
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Today it operates BEST as a stand alone business (seperate from RE Sales)

May 25, 2016 08:45 PM
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

I agree with Joe Pryor . This is a specialty and some skills needed are very different from property sales skills.

May 25, 2016 06:45 PM
Diana Zaccaro Broker Associate
Tropical Beachside brokered by eXp - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

Property management is not for everyone and neither are rentals. I have done both and found PM to be challenging and rewarding. PM offers a steady income each month and rentals are fast cash plus a great way to meet potential buyers. The down side in PM is when there is a problem at night, weekends or holidays and rentals are usually immediate need so little notice for scheduling.

If you want to do it full time and do it right,  you have some great advice from Joe Pryor and Fred Griffin.


May 25, 2016 03:50 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Tamra Lee Ulmer - it's up to a person - who may like that kind of job or not.

May 25, 2016 03:10 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Cons are the volume and the costs. If rentals paid more I would pursue them. Property Management is NOT for the faint of heart, in many ways.

May 25, 2016 01:59 PM
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

If they paid more, I'd do rentals.

May 25, 2016 01:27 PM
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

The pros are the extra income - the cons are the middle of the night phone calls with a furnace that is not firing up or a flood in the basement.

May 25, 2016 01:20 PM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Property Management can be a very lucrative income source however it is not the type of real estate I enjoy.

May 25, 2016 01:14 PM
Robert May
Robert W May - Lethbridge Real Estate - Lethbridge, AB
Real estate consulting

pros - steady monthly income

cons - dealing with people who are remarkably challenging individuals

May 25, 2016 01:11 PM
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Ditto Joe Pryor and Melissa Jackson 


May 25, 2016 11:59 AM
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

Pro: Mail Box Money & equity

Cons: Repairs & Tenant variables.

Been a landlord for 27 years and a property manager longer.

May 25, 2016 11:56 AM
Melissa Jackson REALTOR
Trinity Premier Properties - Azle, TX
Helping You Make The Right Move

I agree it's time consuming.  Our office has a leasing & property management department.  They also deal with HOA's.  If your office is set up efficiently I see this as a plus.  

Also leads into sales, not only from properties but people in those properties. Referring to maintenance calls that are frivolous I believe higher end leases bring better clientele.   

May 25, 2016 11:44 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

This was an awesome guaranteed income when I opened my own office.  It was a guaranteed income to pay bills and then some.  My residential and investment property sales were gravy.  I personally managed 67 units plus sold real estate.  

May 25, 2016 11:21 AM
Toronto, ON

It depends on whose viewpoint it is.

May 25, 2016 09:52 AM
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

 Realtors do it hoping they will get to list the property.

May 25, 2016 09:31 AM
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

I think dealing with tenants that can't change light bulbs is not a plus. 

May 25, 2016 08:37 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy


Time consuming

May 25, 2016 08:27 AM
Raymond E. Camp
Ontario, NY

Answering the calls as to where is the rent money and not really being my own boss!

May 25, 2016 08:24 AM
Tamra Lee Ulmer
Arizona Resource Realty - Payson, AZ
NRBA ~FORCE~ Over 1000 REO Assets SOLD!

Thank You all for your comments, the feedback has been helpful, gaining insight of so many different point of views. I am in Property Management, and I wanted to see if others view it the same way as I do. It can be challenging at times, volume is key to make it worth it I found.

May 26, 2016 07:24 AM