# How to Get Started in the World of Property Management
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-02-16
Category: BUSINESS
Category URL: https://financedigest.com/category/business
Meta Title: Rental Property Management: Expert Tips for Real Estate
Meta Description: Learn the pros and cons of investing in a property management team or overseeing your rental properties yourself. Make an informed decision today!
URL: https://financedigest.com/how-to-get-started-in-the-world-of-property-managementhtml

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Starting your real estate portfolio is an exciting time. For most entrepreneurs, their real estate portfolio begins with rental property. Once they have secured their property and got their tenants in place, they face their first hurdle. Do they oversee the property themselves or [invest](https://www.financedigest.com/battling-uncertainty-is-the-key-to-property-investment-success.html "Battling uncertainty is the key to property investment success") with the help of a property management team?

Most Property [management firms](https://www.financedigest.com/exclusive-crypto-giant-binance-moved-400-million-from-u-s-partner-to-firm-managed-by-ceo-zhao.html "Exclusive-Crypto giant Binance moved 0 million from U.S. partner to firm managed by CEO Zhao"), such as Sea to Sky Management (SKS), invest in technology that streamlines the process for both the owners and their tenants. You may also prefer to keep your costs low and maximize your profit margins by looking after your [investment properties](https://www.financedigest.com/brexit-no-obstacle-as-chinese-overseas-property-investment-doubles.html "Brexit no obstacle as Chinese overseas property investment doubles") yourself.

The question remains – do you [invest in property](https://www.financedigest.com/ethical-property-investment-can-your-money-do-more.html "Ethical property investment: Can your money do more? ") management or go down the self-management route when starting your real estate portfolio?

[**_Rental property maintenance tips_**](https://www.financedigest.com/4-tips-for-landlords-to-increase-rental-property-profits.html "4 Tips for Landlords to Increase Rental Property Profits")

When you invest in a [property portfolio, managing the day-to-day running of the property and overseeing its listing on the market](https://www.financedigest.com/2017-spanish-property-market-gems-kyero-com-gazes-into-the-crystal-ball.html "2017 Spanish property market gems – Kyero.com gazes into the crystal ball") may not be at the front of your mind. Unless you [come from a property](https://www.financedigest.com/birmingham-beats-brooklyn-and-brisbane-when-it-comes-to-off-plan-property-investment.html "Birmingham beats Brooklyn and Brisbane when it comes to off-plan property investment") background, property management could feel like a mind field.

Before deciding whom you want to oversee your property management, you want to [become familiar with your property](https://www.financedigest.com/property-letting-could-become-a-legal-minefield.html "PROPERTY LETTING COULD BECOME A LEGAL MINEFIELD"). Whether it’s a new build or an older property, learn as much as you can about the building. Identify its weaknesses, any problems that may prop up, and any issues you could address early on – such as [repairing or replacing](https://www.financedigest.com/iomt-internet-of-medical-things-to-accelerate-the-transcatheter-heart-valve-replacement-repair-market.html "IoMT (Internet of Medical Things) to accelerate the Transcatheter Heart Valve Replacement Repair Market") utilities.

Seasonal maintenance is a [health and safety](https://www.financedigest.com/occupational-health-and-safety-must-be-brought-back-to-the-forefront-of-esg.html "Occupational Health and Safety must be brought back to the forefront of ESG") measure necessary for commercial and residential property. Briefly, this maintenance includes cleaning gutters and ensuring appliances are functioning correctly. Maintenance is at the heart of [property management](https://www.financedigest.com/looking-to-buy-a-rental-property-heres-why-you-need-a-property-manager.html "Looking to Buy a Rental Property? Here’s Why You Need a Property Manager") to prevent costly problems and disturbances.

You’ll also need to be prepared to address vacancy issues. If you decide to self-manage your property, you’ll oversee everything, from submitting the listing to approving your tenants. Choosing a property [management service can simplify this and reduce the vacancy time](https://www.financedigest.com/time-management-strategies-that-work.html "Time management strategies that work") by speeding up the tenant screening process.

![](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/yongmin-zhu-ceo-stm-02-1-450x675-1736816224891-compressed.jpg)

Yongmin Zhu, the [CEO of Sea to Sky Management](https://www.financedigest.com/fineco-ceo-expects-fixed-income-demand-to-help-managed-assets.html "Fineco CEO expects fixed income demand to help managed assets")

**_Property management vs self-management_**

The decision you’ll want to make early in your real estate [investment is to decide between property](https://www.financedigest.com/5-reasons-why-women-need-to-get-into-property-investing.html "5 Reasons why women need to get into property investing") management and self-management. Everyone’s portfolio – and the [time they can commit to their properties](https://www.financedigest.com/a-guide-to-luxury-property-investment-in-the-time-of-covid-19.html "A guide to luxury property investment in the time of COVID-19") – is different.

If you go down the self-management route, it’s worth considering everything you’ll be responsible for. You may end up chasing your tenant for their monthly rent or find yourself taking multiple phone calls a [week from tenants looking to make changes to the property](https://www.financedigest.com/uk-property-market-braced-for-influx-of-chinese-buyers-as-golden-week-approaches.html "UK property market braced for influx of Chinese buyers as Golden Week approaches"). Landlord duties include everything, from overseeing regular inspections to enforcing the lease terms and checking in with your tenants at least every few months.

But what can property management offer you? [Yongmin Zhu](https://thefashionglobe.com/yongmin-zhu-interview), the CEO of Sea to Sky Management, says that the “ _modern management system from SKS changes the traditional service model and brings a more convenient service experience to the residents”._

Hiring a property management [service](https://www.financedigest.com/managing-the-hidden-security-gap-in-financial-services-the-office-printer.html "MANAGING THE HIDDEN SECURITY GAP IN FINANCIAL SERVICES: THE OFFICE PRINTER") allows you to benefit from their expertise and data management skills. You’ll be [working with an agency familiar and up to date with the latest in property](https://www.financedigest.com/property-development-exit-loans-what-they-are-how-they-work.html "Property Development Exit Loans: What They Are, How They Work") legislation and rental policies.

The amount you [pay for a property management](https://www.financedigest.com/with-the-right-active-manager-you-really-do-get-what-you-pay-for.html "With the Right Active Manager, You Really Do Get What You Pay For") service is typically a percentage (up to 10%) of the monthly rent for the property. While this may seem like an unnecessary additional cost, you want to consider the [cost of your time if you oversaw the property management](https://www.financedigest.com/managing-the-cost-of-digital-transformation-with-saas-optimisation.html "Managing the Cost of Digital Transformation with SaaS Optimisation") yourself.

**_The [qualities to look for in a property management](https://www.financedigest.com/struggling-banks-need-to-modernise-and-improve-software-quality-management.html "Struggling Banks Need to Modernise and Improve Software Quality Management") firm_**

Where should you look if you’re [interested in investing in property](https://www.financedigest.com/uk-buyers-lead-interest-in-megacity-istanbul-accounting-for-21-51-of-all-property-enquiries.html "UK BUYERS LEAD INTEREST IN ‘MEGACITY’ ISTANBUL, ACCOUNTING FOR 21.51% OF ALL PROPERTY ENQUIRIES") management? Sea to Sky Management (SKS) is a real estate investment company that invests primarily in commercial and [residential properties](https://www.financedigest.com/greek-residential-property-price-recovery-picks-up-in-third-quarter.html "Greek residential property price recovery picks up in third quarter"). Their goal is to [provide a convenient living experience to diverse groups](https://www.financedigest.com/tech-amigos-provides-unrivalled-aws-cloud-service-support-for-autorama-groups-leading-brand-vanarama-2.html "Tech Amigos provides unrivalled AWS cloud service support for Autorama Group’s leading brand, Vanarama") at the correct location.

SKS utilizes the ‘ [_Appfolio’_](https://www.appfolio.com/news/appFolio-leads-the-real-estate-industrys-digital-transformation-with-the-release-of-new-capabilities) software that offers a more streamlined service for residents and owners, focusing on data management. It establishes communication [lines and makes properties](https://www.financedigest.com/analysis-crisis-radar-falls-on-fault-lines-in-europes-commercial-property.html "Analysis-Crisis radar falls on fault lines in Europe’s commercial property") easier to manage at every stage – from promoting the property listing to managing tenants.

You want a property management firm with experience in the district where your property is alongside an [efficient](https://www.financedigest.com/iforces-route-genie-to-drive-efficient-carrier-management-for-freestylextreme.html "IFORCE’S ROUTE GENIE TO DRIVE EFFICIENT CARRIER MANAGEMENT FOR FREESTYLEXTREME") data management system. They should have a long-standing reputation, all their professional licenses, and experience of dealing with properties like yours.

Deciding to start your real estate portfolio is an [investment in your future](https://www.financedigest.com/investing-in-the-city-thats-investing-in-itself-welcome-to-the-liverpool-of-the-future.html "INVESTING IN THE CITY THAT’S INVESTING IN ITSELF – WELCOME TO THE LIVERPOOL OF THE FUTURE!  "). Property is one of the most high-yielding [assets you can hold](https://www.financedigest.com/why-it-pays-for-companies-to-hold-physical-assets-in-separate-limited-companies.html "Why it pays for companies to hold physical assets in separate limited companies"). Once you have your first property under your belt, you [must decide who oversees the running and management](https://www.financedigest.com/managing-mobility-in-the-enterprise-must-have-consideration.html "Managing mobility in the enterprise must have consideration") of your property. While you may be inclined to oversee this yourself, your time is money, and a property [management service](https://www.financedigest.com/why-a-rules-management-system-can-untie-financial-services-hands.html "Why a rules management system can untie financial services’ hands") is an appealing option.

If your [property is an investment](https://www.financedigest.com/questions-to-ask-yourself-before-purchasing-an-investment-property.html "Questions To Ask Yourself Before Purchasing An Investment Property"), what’s the best way to spend your time to further that portfolio?

**Produced in association with the FG Magazine**


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