← Back to BlogMay 20269 minDan White
Self-Managing vs Property Manager: Which Is Right for You?
Property management costs 8–12% of collected rent. On a $2,200/month rental, that's $2,100–$3,200/year. Is it worth it? The answer depends on your time, your distance from the property, and your tolerance for tenant calls at 11pm.
Market Context
Live Market Data
Washington, DC Housing Market
Cool Market
Data through Mar 2026
Median Sale Price
$590,000
+0.8% YoY
Median Days on Market
44 days
lower = faster market
Sale-to-List Ratio
99.7%
buyers' market
Homes Sold
4,457
last reported month
Source: Redfin Data Center. Updated monthly. Data reflects Washington, DC residential sales.
redfin.comWhat a Property Manager Actually Does
- Marketing and leasing — listings, showings, screening, lease execution
- Rent collection and enforcement
- Maintenance coordination — 24/7 emergency response
- Vendor management — maintenance and repair scheduling
- Legal compliance — notices, lease renewals, eviction management
- Monthly owner statements and annual tax documents
PM Cost Structure
- Monthly management fee: 8–12% of collected rent
- Leasing fee: 50–100% of one month's rent for new tenant placement
- Lease renewal fee: $150–$300
- Maintenance markup: 10–15% on repairs above a threshold
Factor PM Costs Into Your Rental Analysis
FreeDealCalc includes property management fees in the cash flow analysis — see your real return with or without a PM. Free.
Run My Rental Analysis Free →When to Hire a PM
- Property is more than 30 minutes from your home or office
- You have multiple properties and can't manage the volume
- You have a demanding day job and can't respond quickly to tenant issues
- You're out of state
- You don't want to handle tenant conflict directly
When Self-Managing Makes Sense
Local property, one or two units, quality tenants you've vetted carefully, and the discipline to enforce lease terms consistently. Self-management saves $2,000–$4,000 per unit per year. With two properties that's $8,000/year — meaningful money that compounds over time.
Dan White is a licensed Virginia real estate agent at Pearson Smith Realty and founder of FreeDealCalc.com. He has been investing in real estate for 20+ years.