{"id":7066599,"date":"2026-09-25T11:45:18","date_gmt":"2026-09-25T11:45:18","guid":{"rendered":"https:\/\/peraltafinancing.com\/uncategorized\/what-landlords-need-to-know-2\/"},"modified":"2026-09-25T11:45:18","modified_gmt":"2026-09-25T11:45:18","slug":"what-landlords-need-to-know-2","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=7066599","title":{"rendered":"What Landlords Need to Know"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p data-pm-slice=\"1 1 []\">Managing a rental property comes with a long list of responsibilities. You have tenants to communicate with, rent to collect, maintenance requests to handle, and, of course, the property itself to look after. If you\u2019re a hands-on landlord, you can handle all of this yourself. But as your responsibilities grow, managing everything can take up more of your time.<\/p>\n<p>If you\u2019re considering hiring a property manager, there are a few things worth knowing first. What will they actually do for you? How much will it cost? And how do you choose the right company? These are important questions to ask when you\u2019re trusting someone else with your rental. So, let\u2019s answer them in this guide.<\/p>\n<h2><b>Main Takeaways<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Hiring a property manager means you don\u2019t have to handle every part of your rental on your own. They can step in to help with tenants, rent, maintenance, leasing, and other day-to-day work.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You may want to hire a property manager if you don\u2019t have enough time, live far from your rental, own several properties, or simply want to be less involved in the day-to-day work.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Property management costs vary, so don\u2019t look at the monthly management fee alone. Ask what\u2019s included and what may cost extra.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Before choosing a company, compare its experience, services, fees, communication, maintenance process, and reputation.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ask plenty of questions and read the management agreement before you sign. You should understand exactly what you\u2019re paying for and what the company will handle.<\/span><\/li>\n<\/ul>\n<h2><b>What Does a Property Management Company Do?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\"><img fetchpriority=\"high\" decoding=\"async\" class=\" wp-image-237261 alignright\" src=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_1639274845-2-600x400.webp\" alt=\"Property manager speaking with rental property clients outside a home\" width=\"485\" height=\"323\" srcset=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_1639274845-2-600x400.webp 600w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_1639274845-2-1199x800.webp 1199w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_1639274845-2-768x512.webp 768w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_1639274845-2-1536x1025.webp 1536w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_1639274845-2.webp 1920w\" sizes=\"(max-width: 485px) 100vw, 485px\"\/><\/span><\/p>\n<p data-pm-slice=\"1 1 []\">So, what does a property management company, like the team at <a href=\"https:\/\/www.baymgmtgroup.com\/\" target=\"_blank\" rel=\"noopener\">Bay Property Management Group<\/a>, actually do? In a nutshell, a property management company handles the day-to-day responsibilities of managing a rental property on behalf of the owner.<\/p>\n<p>Now, what that looks like can be a little different depending on the company and the type of management you choose. But generally, you can expect a property management company to take care of things like:<\/p>\n<h3><strong>Rental Marketing and Showings<\/strong><\/h3>\n<p>Most property managers help you market your property to potential tenants. They may take photos and videos of the rental and post the listing on platforms where tenants are looking. They can also respond to inquiries and schedule showings. Some companies may even give you an idea of how long it could take to find a tenant based on the local rental market.<\/p>\n<h3><strong>Tenant Screening and Leasing<\/strong><\/h3>\n<p>Property managers can also help you <a href=\"https:\/\/www.baymgmtgroup.com\/blog\/how-to-screen-tenants\/\" target=\"_blank\" rel=\"noopener\">screen potential tenants<\/a>. They may review applications, verify income and rental history, request screening reports where allowed, and evaluate applicants using consistent screening criteria in accordance with applicable federal, state, and local laws. Once you approve a tenant, they can prepare the lease and handle the move-in process.<\/p>\n<p>At Bay Property Management Group, fewer than 1% of tenants placed through our screening process result in eviction, and qualifying placements are backed by a six-month placement warranty.<\/p>\n<h3><strong>Rent Collection<\/strong><\/h3>\n<p>You can also expect your property manager to handle rent collection. They can collect rent from your tenants, keep track of payments, and follow up when rent is late. This means you don\u2019t have to chase down payments or keep track of everything yourself.<\/p>\n<h3><strong>Tenant Communication<\/strong><\/h3>\n<p>Your property manager can also be the main point of contact for your tenants. If a tenant has a question, concern, or maintenance request, they can contact the property manager instead of coming directly to you. The manager can then handle the issue or let you know when your input is needed.<\/p>\n<h3><strong>Maintenance and Inspections<\/strong><\/h3>\n<p>When something needs to be fixed, your property manager can <a href=\"https:\/\/www.baymgmtgroup.com\/blog\/rental-property-maintenance-complete-guide\/\" target=\"_blank\" rel=\"noopener\">coordinate the repair for you<\/a>. They can receive maintenance requests, contact vendors or contractors, and follow up to make sure the work is completed. Many property managers also conduct inspections to check the condition of the rental and identify problems that may need your attention.<\/p>\n<p>These are some of the <a href=\"https:\/\/www.baymgmtgroup.com\/property-management-services\/\" target=\"_blank\" rel=\"noopener\">property management services<\/a> you can expect when you hire someone to manage your rental. Bay Property Management Group also provides access to 24\/7 emergency maintenance support and coordinates repairs through an established vendor network across its service areas.<\/p>\n<p>So, does having all this help mean every landlord needs a property manager? Not necessarily. It really comes down to how much you want to handle yourself. Let\u2019s look at a few situations where hiring one may be worth considering.<\/p>\n<h2><b>When Should You Hire a Property Management Company?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-237265 alignleft\" alt=\"Landlord reviewing financial records while managing rental property responsibilities\" width=\"485\" height=\"271\" srcset=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2160704928-716x400.webp 716w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2160704928-1400x782.webp 1400w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2160704928-768x429.webp 768w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2160704928-1536x858.webp 1536w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2160704928.webp 1920w\" data-lazy-sizes=\"(max-width: 485px) 100vw, 485px\" src=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2160704928-716x400.webp\"\/><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-237265 alignleft\" src=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2160704928-716x400.webp\" alt=\"Landlord reviewing financial records while managing rental property responsibilities\" width=\"485\" height=\"271\" srcset=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2160704928-716x400.webp 716w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2160704928-1400x782.webp 1400w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2160704928-768x429.webp 768w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2160704928-1536x858.webp 1536w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2160704928.webp 1920w\" sizes=\"auto, (max-width: 485px) 100vw, 485px\"\/>If managing your rental property is your main focus, you may not need a property manager. You may have the time and experience to handle everything yourself, and that can work just fine.<br \/><\/span><\/p>\n<p>But if you\u2019re considering getting help from a property manager, let\u2019s look at a few situations where hiring one can make sense.<\/p>\n<h3><b>You Don\u2019t Have Enough Time to Manage the Property<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Managing a rental takes time, even when things are going well. There are tenant questions to answer, rent payments to keep track of, maintenance requests to coordinate, and paperwork to stay on top of.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you\u2019re already balancing a full-time job, family, or other responsibilities, it can become difficult to give your rental the attention it needs. In that case, handing over the day-to-day work may be worth considering.<\/span><\/p>\n<h3><b>You Live Far From Your Rental<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Managing a property from a distance comes with its own challenges. You can answer calls and collect rent online, but what happens when the property needs an inspection or a tenant reports a repair that needs someone there?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Having a property manager close to your rental gives you someone who can handle those situations locally. This can be especially helpful if you\u2019ve moved to another city or state but decided to keep your property as a rental.<\/span><\/p>\n<h3><b>You\u2019re Managing Multiple Properties<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">One rental may be manageable on your own. Add a second, third, or fourth property, though, and suddenly you\u2019re dealing with several tenants, leases, maintenance schedules, and sets of financial records.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">At some point, managing your portfolio can start taking up more of your time than investing in it. A property management company can take over much of that everyday work while you continue owning the properties.<\/span><\/p>\n<h3><b>You\u2019re New to Being a Landlord<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">There\u2019s a lot to learn when you become a landlord for the first time. You have to figure out how to market the property, screen applicants, prepare for move-in, collect rent, handle maintenance, and understand the rental requirements that apply where your property is located.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can certainly learn these things as you go. However, if you\u2019d rather not figure everything out through trial and error, working with an experienced property manager can <a href=\"https:\/\/www.baymgmtgroup.com\/blog\/top-reasons-landlords-use-property-management-company\/\" target=\"_blank\" rel=\"noopener\">give you some extra support from the beginning.<\/a><\/span><\/p>\n<h3><b>Tenant and Maintenance Issues Are Taking Over Your Time<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Maybe collecting rent isn\u2019t the problem. It\u2019s everything else that seems to happen when you least expect it.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A tenant calls about a broken appliance. A contractor needs access to the property. Then another maintenance request comes in before the first one is finished. If you\u2019re spending more time coordinating repairs and responding to tenants than you\u2019d like, it may be time to get some help.<\/span><\/p>\n<h3><b>You Want to Grow Your Rental Portfolio<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Buying another rental sounds exciting until you remember that another property also means another tenant, another lease, more maintenance, and more records to manage.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you want to grow your portfolio without personally taking on every new management responsibility that comes with it, a property management company can help handle the operational side as you add more rentals.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Of course, recognizing that you could use some help is only part of the decision. You also need to know what you\u2019re getting in return for paying someone else to manage your property. So, let\u2019s look at the benefits of property management next.<\/span><\/p>\n<h2><b>What Are the Benefits of Hiring a Property Management Company?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">So, let\u2019s say you\u2019ve decided that managing everything yourself is becoming a little too much. What do you actually gain by handing some of that work over?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The benefits of property management go beyond simply having someone collect rent for you. Depending on the services you choose, here\u2019s where a property manager can make things easier:<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td>\n<h3><b>Benefit<\/b><\/h3>\n<\/td>\n<td>\n<h3><strong>What It Can Mean With BMG<\/strong><\/h3>\n<\/td>\n<\/tr>\n<tr>\n<td><b>More Time for Other Things<\/b><\/td>\n<td>BMG handles day-to-day responsibilities like tenant communication, rent collection, leasing, maintenance coordination, and financial reporting.<\/td>\n<\/tr>\n<tr>\n<td><b>Local Rental Market Knowledge<\/b><\/td>\n<td>BMG manages more than 8,000 rental units across multiple markets, giving its local teams direct experience with rental conditions in the areas they serve.<\/td>\n<\/tr>\n<tr>\n<td><b>Help Finding and Managing Tenants<\/b><\/td>\n<td>BMG markets rentals across 30+ platforms, with managed properties spending an average of 23 days on the market.<\/td>\n<\/tr>\n<tr>\n<td><b>Someone to Handle Maintenance<\/b><\/td>\n<td>BMG provides access to 24\/7 emergency maintenance support and coordinates repairs through its vendor network.<\/td>\n<\/tr>\n<tr>\n<td><b>Better-Organized Rental Records<\/b><\/td>\n<td>Owners have access to an online portal along with regular financial reporting for their rental properties.<\/td>\n<\/tr>\n<tr>\n<td><b>Help Keeping Up With Rental Requirements<\/b><\/td>\n<td>BMG reports a 79% lease renewal rate across its managed portfolio.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">Now, these benefits can certainly make owning a rental less hands-on. But professional management isn\u2019t free. Before deciding whether it makes sense for your property, you\u2019ll also want to understand what you may pay for these services.<\/span><\/p>\n<h2><b>How Much Does a Property Manager Cost?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-237266 aligncenter\" alt=\"Property owner using a calculator to review property management costs and expenses\" width=\"486\" height=\"257\" srcset=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2031467818-1-757x400.webp 757w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2031467818-1-1400x740.webp 1400w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2031467818-1-768x406.webp 768w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2031467818-1-1536x812.webp 1536w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2031467818-1.webp 1920w\" data-lazy-sizes=\"(max-width: 486px) 100vw, 486px\" src=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2031467818-1-757x400.webp\"\/><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-237266 aligncenter\" src=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2031467818-1-757x400.webp\" alt=\"Property owner using a calculator to review property management costs and expenses\" width=\"486\" height=\"257\" srcset=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2031467818-1-757x400.webp 757w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2031467818-1-1400x740.webp 1400w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2031467818-1-768x406.webp 768w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2031467818-1-1536x812.webp 1536w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2031467818-1.webp 1920w\" sizes=\"auto, (max-width: 486px) 100vw, 486px\"\/>So, you\u2019ve seen what a property manager can take off your plate. Naturally, the next thing you\u2019ll want to know is how much all of that is going to cost.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Well, there isn\u2019t one standard property manager cost. What you pay can depend on the company you hire, where your property is located, how many rentals you own, and the services you need.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For example, a property management company may charge a percentage of the rent it collects each month. At Bay Property Management Group, monthly management fees typically range <a href=\"https:\/\/www.baymgmtgroup.com\/property-management-services\/fees-and-rates\/\" target=\"_blank\" rel=\"noopener\">from 5% to 8% of collected rent<\/a>, although the full range can fall between 3% and 10%. But still, the exact percentage depends on factors like your location, monthly rent, and the number of units you have under management.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But here\u2019s where you need to pay attention: the monthly management fee may not be the only cost involved. Depending on the company, you may also come across fees such as:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Need a new tenant? This fee usually covers the work involved in finding one, such as marketing the property, handling showings, and screening applicants.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If your current tenant decides to stay, you may be charged a fee for preparing and handling the lease renewal.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When you first sign up with a property management company, there may be a one-time fee to get your property set up for management.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><b>Rental licensing or permit fees<\/b><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Depending on where your rental is located, you may need certain <a href=\"https:\/\/www.nolo.com\/legal-encyclopedia\/landlord-rental-property-business-licenses.html\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">licenses or permits<\/a>. These costs aren\u2019t always included in the management fee, so check whether you\u2019ll be paying for them separately, including when it\u2019s time to renew.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">\n<h3><b>Maintenance or other service fees<\/b><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-237288 alignright\" alt=\"Maintenance professional repairing plumbing at a rental property\" width=\"485\" height=\"273\" srcset=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2120896749-711x400.webp 711w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2120896749-1400x788.webp 1400w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2120896749-768x432.webp 768w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2120896749-1536x864.webp 1536w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2120896749.webp 1920w\" data-lazy-sizes=\"auto, (max-width: 485px) 100vw, 485px\" src=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2120896749-711x400.webp\"\/><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-237288 alignright\" src=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2120896749-711x400.webp\" alt=\"Maintenance professional repairing plumbing at a rental property\" width=\"485\" height=\"273\" srcset=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2120896749-711x400.webp 711w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2120896749-1400x788.webp 1400w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2120896749-768x432.webp 768w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2120896749-1536x864.webp 1536w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2120896749.webp 1920w\" sizes=\"auto, (max-width: 485px) 100vw, 485px\"\/><\/span><\/p>\n<p>Some companies may charge extra for services like maintenance, inspections, advertising, or technology. Others may include some of these services in the monthly management fee. Ask what\u2019s included so you know what you\u2019ll actually be paying.<\/p>\n<p>This is also why you shouldn\u2019t compare property management companies by the monthly percentage alone. A company with a lower management fee may charge separately for more services, while another may include them in the monthly price.<\/p>\n<p>You can check our <a href=\"https:\/\/www.baymgmtgroup.com\/property-management-services\/fees-and-rates\/\" target=\"_blank\" rel=\"noopener\">property management fees and rates<\/a> to see BMG\u2019s current pricing and what\u2019s included.<\/p>\n<h3><b>Property Management Cost Example<\/b><\/h3>\n<p data-pm-slice=\"1 1 []\">Still trying to picture what professional management could cost for your rental? Use our property management cost example below to get a better idea based on your property and rental income.<\/p>\n<p>Let\u2019s say your rental brings in <strong>$2,000 per month<\/strong> and the management fee is <strong>7%<\/strong>.<\/p>\n<table>\n<tbody>\n<tr>\n<th\/>\n<th\/>\n<\/tr>\n<tr>\n<td>Monthly Rent<\/td>\n<td><strong>$2,000<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Management Fee<\/td>\n<td><strong>7%<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Estimated Monthly Management Cost<\/td>\n<td><strong>$140<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Estimated Annual Management Cost<\/td>\n<td><strong>$1,680<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Rent Left After Management Fee<\/td>\n<td><strong>$1,860 per month<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>So, in this example, you would pay about $140 per month for property management, or $1,680 per year. That would leave you with about $1,860 in monthly rent before other rental expenses.<\/p>\n<p>For a higher-rent property, the same calculation works the same way. For example, a rental bringing in $3,500 per month with a 7% management fee would cost approximately $245 per month, or $2,940 per year, before any additional fees or rental expenses.<\/p>\n<h2><b>Is Hiring a Property Management Company Worth the Cost?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Now that you have an idea of what property management may cost, you may be wondering if it\u2019s actually worth paying for. And the truth is, there isn\u2019t one answer that works for every landlord.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For that reason, let\u2019s compare what managing a rental yourself looks like versus hiring a property management company.<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td>\n<h3><b>If You Manage the Property Yourself<\/b><\/h3>\n<\/td>\n<td>\n<h3><strong>If You Hire Bay Property Management Group<\/strong><\/h3>\n<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">You handle tenant calls and questions.<\/span><\/td>\n<td>Your property manager handles most day-to-day tenant communication for you.<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">You collect rent and follow up on late payments.<\/span><\/td>\n<td>We\u2019ll handle rent collection and applicable payment follow-ups.<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">You find contractors and coordinate repairs.<\/span><\/td>\n<td>Your property manager coordinates maintenance and provides access to 24\/7 emergency maintenance support.<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">You market vacancies and screen applicants.<\/span><\/td>\n<td>Our team of professionals markets rentals across 30+ platforms and handles showings, screening, and leasing.<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">You keep track of rental income, expenses, and records.<\/span><\/td>\n<td>We provide financial reporting and owner-portal access.<\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">You keep up with rental requirements in your area.<\/span><\/td>\n<td>BMG\u2019s local teams help owners navigate applicable rental requirements in the markets they serve.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>As property managers, we think one of the easiest ways to answer this question is to look at what the management fee would actually cover for you.<\/p>\n<p>You can start with the work you currently do for your rental. How much time goes into tenant communication, rent collection, maintenance, leasing, and keeping your records organized? Once you have an idea of that, look at what a property management company would take over and how much they would charge you to do it.<\/p>\n<p>For example, if you\u2019re spending several hours each month dealing with your rental, the fee may be worth the time you get back. The same may be true if you\u2019re paying for help with leasing, maintenance coordination, or other tasks separately.<\/p>\n<p>Don\u2019t just look at the percentage or dollar amount on the management agreement. Look at the services included in that price and compare them with what you\u2019re currently doing or paying for yourself. That will give you a much better idea of whether hiring a property manager is worth the cost for you.<\/p>\n<h2><b>What Should You Look for in a Property Management Company?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Let\u2019s say you\u2019ve decided that hiring a property management company makes sense for you. Now comes the harder part: choosing one.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are probably several property management companies in your area, so you may have quite a few options to choose from. So, how do you narrow them down? Let\u2019s look at a few things <a href=\"https:\/\/www.baymgmtgroup.com\/blog\/10-tips-selecting-best-property-manager\/\" target=\"_blank\" rel=\"noopener\">worth paying attention to as you compare companies<\/a>.<\/span><\/p>\n<h3><b><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-237267 alignleft\" alt=\"Rental property owner asking questions during a property management company interview\" width=\"600\" height=\"400\" srcset=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_208911644-600x400.webp 600w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_208911644-1200x800.webp 1200w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_208911644-768x512.webp 768w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_208911644-1536x1024.webp 1536w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_208911644.webp 1920w\" data-lazy-sizes=\"auto, (max-width: 600px) 100vw, 600px\" src=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_208911644-600x400.webp\"\/><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-237267 alignleft\" src=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_208911644-600x400.webp\" alt=\"Rental property owner asking questions during a property management company interview\" width=\"600\" height=\"400\" srcset=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_208911644-600x400.webp 600w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_208911644-1200x800.webp 1200w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_208911644-768x512.webp 768w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_208911644-1536x1024.webp 1536w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_208911644.webp 1920w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\"\/>Local Market Experience<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Where your property manager works matters; someone who manages rentals in your area regularly is more likely to have a feel for the local market, from the rent similar properties are getting to what tends to matter to renters looking for a home there.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Local experience can also come in handy when dealing with rental requirements that vary by city, county, or state.<\/span><\/p>\n<h3><b>Services That Match Your Needs<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Remember the services we talked about earlier? This is where we will use them.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Maybe you want someone to handle everything from leasing and rent collection to maintenance and tenant communication. Or you\u2019re mainly looking for help finding and placing a tenant. Knowing what you need makes it easier to find a company that offers the right services.<\/span><\/p>\n<h3><b>Clear Fees and Contract Terms<\/b><\/h3>\n<p data-pm-slice=\"1 1 []\">Make sure you know what you\u2019ll be paying before you sign anything. Ask what the monthly management fee covers and if there are other fees you may have to pay.<\/p>\n<p>And don\u2019t skip the management agreement. Check how long the contract lasts, which services are included, and what you need to do if you want to end the agreement later.<\/p>\n<h3><b style=\"font-size: 20.16px; color: #333333;\">Communication and Availability<\/b><\/h3>\n<p>Think about how often you\u2019d like to hear from your property manager. You may want regular updates, or you may only want to hear from them when they need your input.<\/p>\n<p>Ask how the company communicates with you and your tenants. You should also know who you\u2019ll contact when you need help and who handles issues after regular business hours. If getting a simple answer is difficult before you\u2019ve even hired the company, that\u2019s worth paying attention to.<\/p>\n<h3><b>Maintenance Processes and Vendor Relationships<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Maintenance is one of those things you don\u2019t want to figure out after a pipe starts leaking at 10 p.m.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Ask how the company handles routine repairs and after-hours maintenance requests. You can also find out who performs the work, how contractors are selected, when you\u2019ll be contacted for approval, and how repair costs are billed.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A clear maintenance process gives you a better idea of what will happen when your property eventually needs attention.<\/span><\/p>\n<h3><b>Technology and Owner Reporting<\/b><\/h3>\n<p>You should be able to easily check what\u2019s happening with your rental. Ask if the company has an owner portal where you can view things like rent payments, expenses, maintenance updates, and financial statements.<\/p>\n<p><span style=\"font-weight: 400;\">Technology doesn\u2019t automatically make one property manager better than another, but it can make managing the relationship much easier, especially if you don\u2019t live near your rental.<\/span><\/p>\n<h3><b>Reputation and Track Record<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Before making your decision, see what other rental owners have to say about the company. Online reviews can be a useful starting point, but don\u2019t stop at the overall rating. Read through some of the comments and look for patterns in what people say about communication, maintenance, leasing, and problem-solving.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You can also ask the company about its experience managing properties similar to yours. Managing a single-family rental, for example, may be different from managing a large multifamily property.<\/span><\/p>\n<p>Bay Property Management Group, for example, has 17 years of property management experience and manages more than 8,000 rental units across its service areas. That type of track record is one factor owners can consider when comparing management companies.<\/p>\n<h3 class=\"PDq2pG_selectionAnchorContainer\" dir=\"auto\" data-start=\"10523\" data-end=\"10559\"><strong data-start=\"10523\" data-end=\"10559\">Licensing and Local Requirements<\/strong><\/h3>\n<p data-pm-slice=\"1 1 []\">Licensing and rental requirements can vary significantly by jurisdiction, which is another reason to ask whether a management company has experience in the specific market where your rental is located. Requirements affecting property management and rental properties may differ across Maryland, Pennsylvania, Virginia, Washington, DC, and Texas.<\/p>\n<p data-pm-slice=\"1 1 []\">For example, in Pennsylvania, managing someone else\u2019s property for a fee is generally an activity that falls under the state\u2019s real estate licensing rules. Philadelphia has its own requirements, too. Rental properties generally need a Rental License, which must identify a managing agent who meets the city\u2019s requirements. The owner may serve as the managing agent if they meet those requirements; otherwise, a qualifying local managing agent must be designated.<\/p>\n<p>So, if you own a rental in Philadelphia, ask the company about its licensing and whether it can meet the city\u2019s requirements for managing your property. You can also ask about its insurance coverage and any professional credentials it holds.<\/p>\n<h2><b>What Questions Should You Ask a Property Management Company?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">You\u2019ve probably narrowed down your options by this point. Now it\u2019s time to learn a little more about the companies you\u2019re considering.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And really, <a href=\"https:\/\/www.baymgmtgroup.com\/blog\/burning-questions-landlords-ask-property-management-companies\/\" target=\"_blank\" rel=\"noopener\">the easiest way to do that is to ask<\/a>. Don\u2019t be afraid to get specific. You\u2019re trusting someone with your rental, so make sure you know what you\u2019re signing up for.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Use this checklist when interviewing a property management company:<\/span><\/p>\n<h3><b>Property Management Company Interview Checklist<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">\u2610 <\/span>How long have you managed rental properties in this area?<\/p>\n<p><span style=\"font-weight: 400;\">\u2610 <\/span>What types of rental properties do you manage?<\/p>\n<p><span style=\"font-weight: 400;\">\u2610 <\/span>Which property management services are included in your fee?<\/p>\n<p><span style=\"font-weight: 400;\">\u2610 <\/span>Are there any additional fees I should know about?<\/p>\n<p><span style=\"font-weight: 400;\">\u2610 <\/span>How do you determine the rental rate for a property?<\/p>\n<p><span style=\"font-weight: 400;\">\u2610 <\/span>How do you market vacant rentals and handle property showings?<\/p>\n<p><span style=\"font-weight: 400;\">\u2610 <\/span>What does your tenant screening process involve?<\/p>\n<p><span style=\"font-weight: 400;\">\u2610 <\/span>How do you collect rent and distribute rental income to owners?<\/p>\n<p><span style=\"font-weight: 400;\">\u2610 <\/span>How do you handle late rent and lease violations?<\/p>\n<p><span style=\"font-weight: 400;\">\u2610 <\/span>How are maintenance requests and after-hours emergencies handled?<\/p>\n<p><span style=\"font-weight: 400;\">\u2610 <\/span>How do you choose contractors or maintenance vendors?<\/p>\n<p><span style=\"font-weight: 400;\">\u2610 <\/span>When do you need my approval before making a repair?<\/p>\n<p><span style=\"font-weight: 400;\">\u2610 <\/span>How often do you inspect the property?<\/p>\n<p><span style=\"font-weight: 400;\">\u2610 <\/span>What financial statements or reports will I receive, and how often?<\/p>\n<p><span style=\"font-weight: 400;\">\u2610 <\/span>Will I have access to an owner portal?<\/p>\n<p><span style=\"font-weight: 400;\">\u2610 <\/span>Who will be my main point of contact?<\/p>\n<p><span style=\"font-weight: 400;\">\u2610 <\/span>How will you communicate with me when something happens at my property?<\/p>\n<p><span style=\"font-weight: 400;\">\u2610 <\/span>How do you handle lease renewals and tenant move-outs?<\/p>\n<p><span style=\"font-weight: 400;\">\u2610 <\/span>What happens if a tenant stops paying rent?<\/p>\n<p><span style=\"font-weight: 400;\">\u2610 <\/span>Can I review your property management agreement before signing?<\/p>\n<p><span style=\"font-weight: 400;\">\u2610 <\/span>How can I end the agreement if I decide the company is no longer the right fit?<\/p>\n<p data-pm-slice=\"1 1 []\">There isn\u2019t one right answer to every question on this list. Instead, pay attention to how clearly they answer and whether you\u2019re comfortable with what you hear. After all, this is the company you\u2019ll be trusting to manage your property, deal with your tenants, and handle your rental income.<\/p>\n<h3><b>Review the Property Management Agreement<\/b><\/h3>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/www.baymgmtgroup.com\/blog\/10-questions-ask-hiring-property-manager\/\" target=\"_blank\" rel=\"noopener\">Once you\u2019ve asked your questions<\/a> and found a company you like, don\u2019t rush to sign the management agreement. Take some time to read it and make sure you understand what you\u2019re agreeing to.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Pay attention to the services included, management fees, your responsibilities as the owner, maintenance authorization limits, and how the company will handle rental income and other funds. You\u2019ll also want to check how long the agreement lasts, how much notice you need to give if you want to cancel, and whether there are any termination fees.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Most importantly, make sure what you see in the agreement matches what you discussed with the property manager. If something isn\u2019t clear, ask about it before you sign.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And while you\u2019re reviewing everything, keep an eye out for anything that doesn\u2019t quite sit right. Let\u2019s look at a few red flags before you hand over your property.<\/span><\/p>\n<h2><strong>What Are the Red Flags When Hiring a Property Manager?<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">So, you\u2019ve asked your questions and compared a few companies. Before making your final decision, pay attention to anything that doesn\u2019t quite add up. Here are a few red flags to watch:<\/span><\/p>\n<h3><b><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-237269 alignleft\" alt=\"Rental property owner reviewing a property management agreement before signing\" width=\"486\" height=\"324\" srcset=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_1832329263-600x400.webp 600w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_1832329263-1199x800.webp 1199w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_1832329263-768x512.webp 768w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_1832329263-1536x1025.webp 1536w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_1832329263.webp 1920w\" data-lazy-sizes=\"auto, (max-width: 486px) 100vw, 486px\" src=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_1832329263-600x400.webp\"\/><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-237269 alignleft\" src=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_1832329263-600x400.webp\" alt=\"Rental property owner reviewing a property management agreement before signing\" width=\"486\" height=\"324\" srcset=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_1832329263-600x400.webp 600w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_1832329263-1199x800.webp 1199w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_1832329263-768x512.webp 768w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_1832329263-1536x1025.webp 1536w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_1832329263.webp 1920w\" sizes=\"auto, (max-width: 486px) 100vw, 486px\"\/>Fees or Services Aren\u2019t Clear<\/b><\/h3>\n<p data-pm-slice=\"1 1 []\">If you\u2019re having a hard time figuring out what you\u2019ll pay or which services are included, pay attention to that. A property management company should be able to clearly tell you what you\u2019re paying for and which services cost extra.<\/p>\n<h3><b>Communication Is Difficult<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Are calls and emails being answered? Are you getting clear responses to your questions? Poor communication early on may give you an idea of what working with the company could be like.<\/span><\/p>\n<h3><b>There\u2019s No Clear Maintenance Process<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">A property manager should be able to explain how maintenance requests, repair approvals, contractors, and emergencies are handled. If the company can\u2019t clearly explain its maintenance process, that\u2019s worth paying attention to.<\/span><\/p>\n<h3><b>They Lack Relevant Experience<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Look for a company with experience in your rental market and with properties similar to yours. This can be especially important when local rental requirements come into play.<\/span><\/p>\n<h3><b>Their Promises Seem Unrealistic<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Be cautious of promises that sound too good to be true, especially when they aren\u2019t clearly explained or backed up in the management agreement.<\/span><\/p>\n<h3><b>You\u2019re Pressured to Sign<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">You should have time to review the agreement, understand the fees and services, and ask questions. Don\u2019t feel pressured to sign before you\u2019re comfortable with what you\u2019re agreeing to.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One red flag doesn\u2019t necessarily mean you should walk away. But if you\u2019re noticing several concerns or struggling to get straightforward answers, it may be worth considering another company.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Once you\u2019ve done your research, asked your questions, and compared your options, you\u2019re ready for the final step: hiring a property management company.<\/span><\/p>\n<h2><b>How Do You Hire a Property Management Company?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-237275 alignright\" alt=\"Rental property owner handing over keys after hiring a property management company \" width=\"485\" height=\"323\" srcset=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2078907986-600x400.webp 600w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2078907986-1200x800.webp 1200w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2078907986-768x512.webp 768w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2078907986-1536x1024.webp 1536w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2078907986.webp 1920w\" data-lazy-sizes=\"auto, (max-width: 485px) 100vw, 485px\" src=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2078907986-600x400.webp\"\/><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-237275 alignright\" src=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2078907986-600x400.webp\" alt=\"Rental property owner handing over keys after hiring a property management company \" width=\"485\" height=\"323\" srcset=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2078907986-600x400.webp 600w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2078907986-1200x800.webp 1200w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2078907986-768x512.webp 768w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2078907986-1536x1024.webp 1536w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_2078907986.webp 1920w\" sizes=\"auto, (max-width: 485px) 100vw, 485px\"\/>At this point, you know what property management costs, what to look for, what to ask, and which red flags to watch for. So, <a href=\"https:\/\/www.baymgmtgroup.com\/blog\/10-elements-great-property-management-company\/\" target=\"_blank\" rel=\"noopener\">how do you go from researching companies to hiring one?<\/a><\/span><\/p>\n<p><span style=\"font-weight: 400;\">Here\u2019s a simple process you can follow:<\/span><\/p>\n<h3 data-pm-slice=\"1 1 []\"><strong>1. Know What You Need Help With<\/strong><\/h3>\n<p>First, think about what you want the property manager to handle. Do you need full management, or are you mainly looking for help with leasing, maintenance, or tenants? Knowing this will make your search much easier.<\/p>\n<h3><strong>2. Look at Companies in Your Area<\/strong><\/h3>\n<p>Next, see who\u2019s managing rentals where your property is located. Check the services they offer, the types of properties they manage, and what other owners say about them.<\/p>\n<h3><strong>3. Compare What You\u2019re Getting<\/strong><\/h3>\n<p>Once you have a few options, look at their services and fees side by side. Don\u2019t stop at the monthly management fee. Check what\u2019s included and what you\u2019ll have to pay extra for.<\/p>\n<h3><strong>4. Talk to the Companies You Like<\/strong><\/h3>\n<p>This is your chance to ask questions. Use the checklist we shared above and ask about anything else that matters to you. You should feel comfortable with how the company plans to manage your rental before moving forward.<\/p>\n<h3><strong>5. Read the Agreement<\/strong><\/h3>\n<p data-pm-slice=\"1 1 []\">Found a company you like? Don\u2019t sign just yet. Read the agreement first and make sure it matches what you\u2019ve discussed with the company. Pay attention to the fees, services, maintenance terms, and what happens if you decide to cancel later.<\/p>\n<h3><strong>6. Make Your Choice<\/strong><\/h3>\n<p>If everything looks good and you\u2019re comfortable with the company, you can move forward. From there, they\u2019ll let you know what they need from you to start managing the property.<\/p>\n<h2><strong style=\"font-size: 23.04px;\">FAQs About Hiring a Property Management Company<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Still have a few questions before hiring a property management company? Here are some quick answers to questions rental property owners commonly have.<\/span><\/p>\n<h3><b><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-237284 alignright\" alt=\"Rental property owner talking on the phone about property management services\" width=\"486\" height=\"324\" srcset=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_555359583-600x400.webp 600w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_555359583-1199x800.webp 1199w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_555359583-768x512.webp 768w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_555359583-1536x1025.webp 1536w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_555359583.webp 1920w\" data-lazy-sizes=\"auto, (max-width: 486px) 100vw, 486px\" src=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_555359583-600x400.webp\"\/><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-237284 alignright\" src=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_555359583-600x400.webp\" alt=\"Rental property owner talking on the phone about property management services\" width=\"486\" height=\"324\" srcset=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_555359583-600x400.webp 600w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_555359583-1199x800.webp 1199w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_555359583-768x512.webp 768w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_555359583-1536x1025.webp 1536w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_555359583.webp 1920w\" sizes=\"auto, (max-width: 486px) 100vw, 486px\"\/>Can I Hire a Property Manager for Just One Rental Property?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Yes. You don\u2019t need a large rental portfolio to work with a property management company. Many companies manage single rental properties as well as larger portfolios. The important thing is finding a company that works with your property type and offers the services you need.<\/span><\/p>\n<h3><b>Can I Hire a Property Manager If I Already Have a Tenant?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Yes, you can. You don\u2019t have to wait until your rental is vacant to bring in a property manager. If there\u2019s already a tenant in place, the company can take over the day-to-day management of the property.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Just make sure you know how the transition will work. For example, who will collect the rent going forward? How will the tenant be introduced to the new management company? You\u2019ll also want to discuss the existing lease, security deposit records, and any maintenance issues already in progress.<\/span><\/p>\n<h3><strong>How Much Does Property Management Cost Per Month?<\/strong><\/h3>\n<p class=\"PDq2pG_selectionAnchorContainer\" dir=\"auto\" data-start=\"11879\" data-end=\"12213\">Property management costs vary depending on the company, location, property, and services provided. At Bay Property Management Group, monthly management fees typically range from 5% to 8% of collected monthly rent. However, owners should also ask about any placement, renewal, maintenance, licensing, or other fees that may apply.<\/p>\n<h3><b>Do I Still Have Control of My Property If I Hire a Property Manager?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Yes. Hiring a property manager doesn\u2019t mean giving up control of your rental. You\u2019re simply handing over some of the day-to-day work. How much the manager handles will depend on your management agreement and the decisions you\u2019ve given them permission to make on your behalf.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For instance, you may allow your property manager to handle routine maintenance up to a certain amount without calling you each time. Bigger decisions may still need your approval. This is something you\u2019ll want to discuss before signing the agreement.<\/span><\/p>\n<h3><b>Can I Choose Which Property Management Services I Need?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Sometimes, but it depends on the company you hire. You may find a company that handles everything from leasing to ongoing management, while another lets you hire them for just one part of the job, such as finding a tenant. Take a look at the services offered and how they\u2019re packaged before deciding what works for your rental.<\/span><\/p>\n<h3><strong>What Happens If My Tenant Doesn\u2019t Pay Rent?<\/strong><\/h3>\n<p>If a tenant doesn\u2019t pay rent, a property management company can handle communication with the tenant and take appropriate next steps based on the lease and applicable state and local law. Depending on the circumstances and management agreement, this may include sending required notices, documenting the unpaid rent, and coordinating the <a href=\"https:\/\/www.hud.gov\/topics\/rental_assistance\/tenantrights\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">eviction process<\/a> when legally appropriate.<\/p>\n<h3><b>How Long Does It Take to Switch to a Property Management Company?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">There isn\u2019t a set timeline for making the switch. If you already have tenants in the property, for example, the new management company will need time to collect the information they need to take over. That may include the current lease, tenant and security deposit records, financial information, and any ongoing maintenance details.<\/span><\/p>\n<h3><b>Can I Change Property Management Companies Later?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Generally, yes, but you\u2019ll need to follow the termination terms in your property management agreement. Check the required notice period, possible termination fees, and <a href=\"https:\/\/www.baymgmtgroup.com\/blog\/what-does-property-manager-do-baltimore\/\" target=\"_blank\" rel=\"noopener\">any responsibilities you or the management company have<\/a> when transferring records, funds, keys, or other property information.<\/span><\/p>\n<h2><b><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-237285 alignleft\" alt=\"Property manager speaking with rental property owners outside a home\" width=\"486\" height=\"272\" srcset=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_955141892-714x400.webp 714w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_955141892-1400x785.webp 1400w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_955141892-768x430.webp 768w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_955141892-1536x861.webp 1536w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_955141892.webp 1920w\" data-lazy-sizes=\"auto, (max-width: 486px) 100vw, 486px\" src=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_955141892-714x400.webp\"\/><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-237285 alignleft\" src=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_955141892-714x400.webp\" alt=\"Property manager speaking with rental property owners outside a home\" width=\"486\" height=\"272\" srcset=\"https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_955141892-714x400.webp 714w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_955141892-1400x785.webp 1400w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_955141892-768x430.webp 768w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_955141892-1536x861.webp 1536w, https:\/\/www.baymgmtgroup.com\/wp-content\/uploads\/2026\/09\/AdobeStock_955141892.webp 1920w\" sizes=\"auto, (max-width: 486px) 100vw, 486px\"\/>Ready to Find the Right Property Management Company?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Hiring a property management company is a big decision. After all, you\u2019re trusting someone with your rental property, your tenants, and many of the day-to-day responsibilities that come with being a landlord.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The good thing is that you now know what to look for. Take your time comparing services, fees, experience, and management processes, and don\u2019t be afraid to ask questions before making your decision.<\/span><\/p>\n<p>Ready to spend less time managing the day-to-day details of your rental? <a href=\"https:\/\/www.baymgmtgroup.com\/contact\/\" target=\"_blank\" rel=\"noopener\">Get a free rental property analysis from Bay Property Management Group<\/a>. Our team can help you understand your property\u2019s rental potential and walk you through what full-service property management could look like for your specific rental.<\/p>\n<p><strong data-start=\"14707\" data-end=\"14754\">Find property management services near you:<\/strong> <a href=\"https:\/\/www.baymgmtgroup.com\/property-management-in-baltimore\/\" target=\"_blank\" rel=\"noopener\">Baltimore<\/a> | <a href=\"https:\/\/www.baymgmtgroup.com\/philadelphia\/\" target=\"_blank\" rel=\"noopener\">Philadelphia<\/a> | <a href=\"https:\/\/www.baymgmtgroup.com\/property-management-companies-washington-dc\/\" target=\"_blank\" rel=\"noopener\">Washington, DC<\/a> | <a href=\"https:\/\/www.baymgmtgroup.com\/property-management-company-in-northern-virginia\/\" target=\"_blank\" rel=\"noopener\">Northern Virginia<\/a> | <a href=\"https:\/\/texasbmg.com\/areas-we-serve\/property-management-in-austin-texas\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">Austin<\/a> | <a href=\"https:\/\/texasbmg.com\/areas-we-serve\/property-management-in-san-antonio-texas\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">San Antonio<\/a><\/p>\n<\/p><\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Managing a rental property comes with a long list of responsibilities. You have tenants to communicate with, rent to collect, maintenance requests to handle, and, of course, the property itself to look after. If you\u2019re a hands-on landlord, you can handle all of this yourself. But as your responsibilities grow, managing everything can take up [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7066600,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[227885,214274,98570,152270,227886,227887,211474,224469],"tags":[227888,214276,16571,227889,227890,227891],"dealstore":[],"offerexpiration":[],"class_list":["post-7066599","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-benefits-of-property-management","category-hiring-a-property-management-company","category-property-management","category-property-management-company","category-property-management-services","category-property-manager-cost","category-tips-for-investing-in-rental-properties","category-tips-for-new-landlords","tag-benefits-of-property-management","tag-hiring-a-property-management-company","tag-landlords","tag-property-management-company","tag-property-management-services","tag-property-manager-cost"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What Landlords Need to Know - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=7066599\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What Landlords Need to Know - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"Managing a rental property comes with a long list of responsibilities. You have tenants to communicate with, rent to collect, maintenance requests to handle, and, of course, the property itself to look after. If you\u2019re a hands-on landlord, you can handle all of this yourself. 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