The temptation to manage your own investment property is understandable. You probably think you can save money by not paying a management fee every month. Maybe you like to do home improvement projects, and you think you’ll have no problem keeping up with the maintenance and repairs that your property needs.
DIY property management can work for some Fort Worth rental property owners. If you have a lot of time to dedicate to finding tenants, screening applications, managing resident requests, and keeping your home maintained, you might be able to do it successfully. If you’re able to stay up to date on all the laws pertaining to landlord and tenant relationships and behavior, you probably won’t have to worry about lawsuits or complaints. And, if you follow the rental market closely and you understand the local rental rates and tenant pool, you won’t have to worry about losing money on low rents and high vacancy rates as a DIY landlord.