Is Hiring a Property Manager for a Single Rental Property Worth It?

As a rental homeowner, you may find yourself questioning whether hiring a property manager for your single rental property is worth the investment. In this article, we will explore the benefits of enlisting the services of a property manager. If you’re a rental homeowner, this content will provide insights into the reasons why having the right professional help can be the right move for you. From minimizing headaches to maximizing profits, we will discuss how a property manager can help you optimize your single-rental property investment.

Running a rental property, even a single one, requires substantial time and effort. By hiring professionals, you can delegate various responsibilities, such as advertising vacancies, screening tenants, drafting leases, and overseeing maintenance. This not only saves you time but also ensures that these tasks are handled efficiently and professionally. With a property manager taking care of the day-to-day management, you can focus on other aspects of your life. 

One of the notable advantages of working with a property manager is their knowledge and understanding of the local rental market. Property managers stay updated on rental trends, market rates, and property demands in your area. Leveraging this expertise, they can help you set competitive rental prices, attract quality tenants, and keep your property occupied. This ultimately optimizes your rental income and helps you achieve the best possible return on your investment.

Finding reliable tenants is vital for the success of your rental property. Property managers have robust tenant screening processes in place, including background checks, credit history analysis, and verification of references. Their experience in evaluating prospective tenants greatly reduces the risk of getting involved with problematic renters. Additionally, property managers handle tenant communications, resolve conflicts, and ensure rent payments are collected promptly. By entrusting these responsibilities to a property manager, you can maintain good tenant relations and avoid potential issues.

Property maintenance and repairs can be a significant responsibility for rental homeowners. With a property manager, you have a dedicated professional who arranges and oversees regular property maintenance, responds to tenant requests, and manages repairs when needed. Property managers often have a network of reliable contractors and vendors, ensuring that repairs are done promptly and at a reasonable cost. By entrusting these tasks to a property manager, you can ensure that your property is well-maintained, which can enhance tenant satisfaction and reduce costly emergency repairs.

Navigating the legal aspects of renting can be complex and time-consuming, especially if you are not familiar with the applicable regulations. Property managers have extensive knowledge of landlord-tenant laws and keep up to date with changes that may impact you as a rental homeowner. They ensure that your rental property is in compliance with all relevant laws, including lease agreements, safety standards, and eviction procedures. By having a property manager handle these legal matters, you can minimize the risk of legal disputes, penalties, and potential liabilities.

While the decision to hire a property manager for a single rental property involves a financial investment, the benefits far outweigh the costs. Property managers provide essential services that save you time, minimize stress, and maximize the profitability of your rental home. By leveraging their expertise, efficiency, and industry connections, you can enjoy a hassle-free rental experience while achieving optimal returns. Consider the advantages discussed in this article and make an informed decision that ensures the success of your single rental property investment.

At Belong, we've got your back with a bunch of end-end management solutions that work like a charm, all wrapped up with some seriously cool technology. Jump on board with these strategies and partner with us to position yourself as a trusted and professional rental homeowner in today's competitive real estate landscape. 

We know how much you care about your place, and we do too. That's why Belong PRO is your ultimate choice for taking care of your precious rental home from start to finish. We’re redefining the future of property management from Seattle to Oakland, Redmond to Los Angeles, Tampa to San Diego, and more!

Discover the advantages of enlisting a property manager for your single rental property. From time savings to expert tenant screening, learn how property management can optimize your investment. Make an informed decision for hassle-free rental success.

Explore how to maximize your rental income as a homeowner on your single property

Explore the essential tips and strategies for efficient property management, designed to boost rental income and create a seamless experience for rental homeowners.

What are the Best Practices in Property Management for Rental Homeowners

Managing rental properties efficiently is a crucial aspect of running a successful real estate investment. As a rental homeowner, adopting the best practices in property management can help you optimize your rental income, streamline operations, and enhance the overall tenant experience.

In this article, we will explore essential tips and strategies that will empower you to navigate the rental market with confidence. 

At Belong we understand the challenges faced by rental homeowners, and we're dedicated to providing innovative solutions that empower you to navigate the rental market with confidence.

One of the primary responsibilities of a property manager is to select reliable tenants. A thorough screening process can minimize the risk of renting to individuals with a history of late payments, property damage, or other problematic behaviors. A comprehensive screening should include background checks, credit checks, employment verification, and landlord references. Leveraging technology and online tools can streamline this process, making it more efficient and accurate. 

Establishing a streamlined rent collection system is crucial for maintaining a steady cash flow. Offering multiple payment options, such as online portals or electronic transfers, can make it convenient for tenants to pay their rent on time. Additionally, clearly communicating and enforcing late penalty fees are effective ways to encourage prompt payment and deter late payments.

Performing regular property inspections is a proactive approach to maintaining the integrity of your property and identifying potential issues before they escalate. Create a schedule for inspections and communicate the plan to your tenants in advance. During inspections, check for any necessary repairs, safety hazards, or breaches of the lease terms. Documenting these inspections with photos can act as a reference for future documentation.

4. Provide Efficient Maintenance and Repairs

Timely maintenance and repairs are essential to keep your property in excellent condition and ensure tenant satisfaction. Devising a maintenance plan that prioritizes urgent repairs and addresses routine tasks can help you stay on top of property upkeep. Build relationships with reliable contractors to ensure swift responses and high-quality workmanship.

Establishing clear and open lines of communication with your tenants is vital for addressing concerns, answering questions, and building trust. Encourage tenants to report maintenance issues promptly and provide various channels for communication, such as phone, email, or an online portal. Regularly communicate lease renewals, policy updates, or any changes that may affect the tenant's stay.

The advent of technology has revolutionized property management, making it easier and more efficient. Utilize property management software to streamline administrative tasks, such as accounting, lease management, and tenant communication. Automating processes frees up time for strategic decision-making and allows for better organization of documents and information.

Many homeowners hope to make sure their beloved house is well cared for. With Belong PRO, you’ll never have to worry about bad residents, late rent, cost blowouts, or 2 am phone calls ever again. Enjoy hassle-free online management of your home along with the perks of an advanced rental management app for both homeowners and residents. 

Complying with local, state, and federal housing laws is critical to avoid legal issues and protect yourself as a rental homeowner. Stay updated with the latest regulations, such as fair housing laws, building codes, and tenant rights. Partnering with legal professionals or joining local landlord associations can provide valuable resources and guidance to navigate these complexities. 

Creating a positive tenant experience goes a long way in attracting and retaining quality tenants. Offering amenities such as well-maintained common areas, proper lighting, landscaping, and efficient security measures enhances the overall appeal of your property. Respond to tenant requests promptly, address concerns, and foster a sense of community, creating a stress-free living environment.

By adhering to these best practices in property management, rental homeowners can optimize their rental income, attract reliable tenants, and build a thriving real estate investment portfolio. 

At Belong, we strive to support rental homeowners by offering a comprehensive range of property management services, coupled with cutting-edge technology that simplifies the entire process. Embrace these strategies and partner with Belong to position yourself as a trusted and professional rental homeowner in today's competitive real estate landscape. 

To learn more about how Belong PRO is simplifying the rental experience, visit our homeowner's page or visit one of our local pages to learn more:

Disclaimer: Belong thinks the word landlord is outdated and prefers 'homeowners'. But in this article we need to make an important distinction between owner-occupied homes and landlords with tenant-occupied homes or vacation rentals, so we have to use the words landlord and tenant a little more than we'd like. This article provides a guide on the types of insurance available and approximate costs but should not be considered financial advice. Please read all insurance policy guides to ensure you have something that suits your personal home and situation. 

Discover the best practices in property management to optimize rental income and enhance tenant experience. Learn more at belonghome.com

Best Practices in Property Management for Rental Homeowners | belonghome.com

Can You Hire a Property Manager for a Home You Live In?

When it comes to managing rental properties, many homeowners rely on the services of a property manager to handle the day-to-day operations. But what if you're a homeowner who also happens to be living in the property you want managed? Can you still hire a property manager?

The answer is yes, and in fact, there are several reasons why you might want to consider doing so. 

A big part of what Belong focuses on is providing homeowners with a hassle-free experience along with guaranteed rent and 24/7 support so homeowners can focus on living their lives while knowing their most important asset is properly taken care of even if they’re living in it. 

1. Benefits for Busy Professionals and Homeowners with Limited Time

First and foremost, hiring a property manager for your home can help alleviate the stress and responsibilities that come with managing a property. Whether you're a busy professional or simply prefer to have someone else take care of the various tasks involved, such as finding tenants, collecting rent, and handling maintenance requests, a property manager can handle it all for you. This can be especially beneficial if you have limited time or are frequently away from home due to work or personal commitments.

2. Expertise and Knowledge in Property Management

Furthermore, a professional property manager brings expertise and knowledge to the table that can be invaluable in ensuring your home is well-maintained and managed. They stay up to date with local rental laws, regulations, and market trends, allowing them to effectively navigate any challenges that may arise. Additionally, property managers often have a network of trusted contractors, making it easier to address maintenance and repair needs promptly and efficiently. By hiring a property manager, you can benefit from their experience and industry-specific knowledge, giving you peace of mind knowing that your property is being managed professionally.

Another advantage of having a property manager for your home is that they act as a buffer between you and your tenants. This can be particularly beneficial if you value your privacy or simply prefer not to deal directly with tenant-related issues. The property manager will be the point of contact for all tenant communications, including inquiries, complaints, and repair requests. By having a property manager handle these matters, you can maintain your privacy while ensuring that all necessary tasks are taken care of in a timely manner.

4. Minimizing Vacancies and Costly Disputes or Repairs

In addition, hiring a property manager can actually save you money in the long run. While you will have to pay a management fee, a professional property manager knows how to effectively market your property, ensure timely rent payments, and enforce lease agreements. This can ultimately help to minimize vacancies and reduce the likelihood of costly tenant disputes or repairs. Property managers also have access to resources and tools that can help optimize your property's rental income. They can conduct market analyses to determine the most competitive rental rates, ensuring you're maximizing your return on investment.

5. Peace of Mind and Professional Management

Lastly, having a property manager for your home can provide you with peace of mind. Knowing that your property is being well-managed and that any issues will be promptly addressed can help you focus on other aspects of your life without the added stress of property management. Whether you're a homeowner who prefers a hands-off approach or simply wants to ensure that your property and tenants are well taken care of, a property manager can provide you with the security and peace of mind you desire.

While it may not be a common practice, hiring a property manager for a home you live in can provide numerous benefits. From alleviating the stress and responsibilities of property management to ensuring your property is well-maintained and compliant with regulations, a property manager can be a valuable asset. Consider exploring this option if you're a homeowner seeking a professional to handle the day-to-day operations of your home. By hiring a property manager, you can enjoy the convenience, expertise, and peace of mind that comes with entrusting your home to capable hands.

Many homeowners hope to make sure their beloved house is well cared for. With Belong PRO, you’ll never have to worry about bad residents, late rent, cost blowouts, or 2 am phone calls ever again. 

Visit our homeowner's page to find out more about how our services are helping people to ditch Seattle Property Management, Redmond Property Management, Oakland Property Management, and more.

Expert Property Management for Homeowners: Focus on Living, Leave the Rest to the Pros.

Discover 6 of our top picks for cost effective ways to improve your long-term rental ROI when getting your rental home ready for listing on the market.

6 Ways to Improve Your Rental Listing Price and ROI with Belong

What’s going to get you the best possible listing price and return on investment for your rental home? Livability. 

Sure, nice design and first impressions count when it comes to getting your home loved and lived in quickly. But it’s the practical upgrades that will improve your ROI long-term. If you want your residents to love your home as much as you do, making the home as comfortable as possible is key. 

Belong has worked with over 2,000 homeowners (and counting) to make sure they meet a high standard of safety and livability that reduces vacancy, increases rental values, and attracts dependable, long-term residents who want to call your place home.

In this article, we’ll take a look at six of Belong’s top picks for cost effective ways to improve your long-term rental ROI when getting your rental home ready for listing. 

There’s nothing more frustrating than a home that looks great but doesn’t function well. If something in your home isn’t working, it’s going to bother you every day. It’s a sure-fire way to make sure your residents will want to leave when the lease is up. 

Of course, functional doesn’t scream value add. Making sure the plumbing is working won’t yield you a higher rental rate. This is where you need to look beyond the bare-minimum of “not broken” and consider how a functionality upgrade might make your home a more desirable place to live. 

Let’s use the bathroom shower as an example. Is there anything better than a good hot shower at the end of a long day? This is one area that homeowners often value the most in their personal space, but neglect in rental homes. If your rental home has a leaky shower head that falls off its hinge all the time, it will drive your residents crazy. 

You could fix the leak to make it functional. Or, to boost the value of your home to your new residents, you could replace it with a more modern fixture with good water pressure and flow. This will help elevate the bathroom aesthetics, while giving your residents a great experience every day. Not to mention avoiding the repeated repair requests. 

If you partner with Belong PRO, we’ll suggest some functional upgrades that will improve the resident experience and can attract a premium rental price for your home on our network. 

Read More: How Belong Inspections Reduce Vacancy and Prepare Your Home For New Residents

People rent homes because they have a practical need for somewhere to live. But a decision to spend more is often more emotional. A home that feels light and bright has the power to lift your mood. They look great in photos and feel good to walk through during tours. 

When new homeowners join Belong, we often recommend giving their rental homes a fresh coat of paint in a neutral color. Not only does it make the home appear bigger and brighter, it’s a simple and cost-effective way to make a rental home look updated. 

Upgrading old and outdated light fixtures is another great way to create a nice light ambiance in the home. A well-lit home is inviting and shows you have nothing to hide! 

You can even create the illusion of more square footage with light tricks. Ditch heavy drapes in favor of shutters or blinds that let more light in. Install a mirror or two to increase the visual size of rooms. 

Keeping a strong return on investment also means protecting yourself against costly problems such as structural damage, safety hazards, and legal liability. 

Rental homes in the US have what’s known as an ‘implied warranty of habitability’. If your house becomes unsafe or unliveable and you don’t take action, your residents may have a legal right to stop paying rent, move out without notice, or even sue you. 

Indoor air quality problems such as mold, radon, and lead

Security to minimize the risk of crime against residents in your home

If you partner with Belong PRO, we’ll give your rental home a full safety inspection. This will get you off to a good start with your new residents and save you costly headaches down the road when things left unchecked would start to break down. We even offer rental home insurance to protect against unexpected damage. 

No one is going to pay top dollar for a home that isn’t clean. Just as a great first impression can lift a home’s appeal, things like dirty carpets, scratched up flooring and heavy scuff marks on the wall can work against you. A professional clean might not increase the price of your listing, but it won’t detract from it like listing an unclean home could. 

Belong also recommends having a no-smoking policy in your rental home. This will protect the rental value of your home by avoiding the staining and smell of nicotine that seeps into the paint work of houses. 

A clever way to increase the value of your rental home long-term is to reduce the running costs and carbon footprint for your future residents. Energy-efficient homes cost less to run which makes them more attractive to applicants — reducing vacancies and attracting more rent than a non-efficient home. 

Sustainability is increasingly important to Millennial and Gen Z renters, with research already suggesting that 61% of renters would pay more each month in rent for an eco-friendly apartment. Single-family homes cost more to run than apartment rentals and we anticipate that in future, more sustainable rental homes will have the upper-hand on competing homes in their neighborhood. 

Read More: 7 Cost-Effective Ways To Make Your Rental Home Sustainable in 2023

The weeds popping up through the cracks in your driveway may not bother you, but this can be a signal to potential renters that your home hasn’t been occupied or cared for in a while. Before listing your home, give the yard a tidy up. You should make a plan for keeping it that way. The outside of homes need regular maintenance to keep them in top shape — things like mowing lawns and clearing gutters. Decide if this is something you want to include in your rental as a service, or if residents need to take responsibility for it, so details can be included in the lease. 

Belong is not a traditional property management company. We do things differently to help people achieve financial freedom through real estate, on their own terms. 

With Belong PRO, we’ll partner with you to get your home the best price, guarantee your rent, and care for it the way you would. Never worry about bad residents, late rent, cost blowouts, or 2am phone calls ever again. 

Learn how inspections can attract long-term residents and get your home move-in ready.

How Belong Inspections Reduce Vacancy and Prepare Your Home For New Residents

For millions of people across the US, renting isn’t a temporary measure. With housing affordability at some of the lowest levels ever, more people are looking for a home to love long-term. Your rental home.  

But a home in disrepair is not going to attract these kinds of long-term residents. It’s a little bit like the ‘broken window theory’ — disorder leads to more disorder. Rent out a home in poor condition and people are less likely to worry about keeping it in top shape. 

This is why Belong conducts a full home inspection of all new rental homes joining our network. We’ll make sure your home is safe, habitable and move-in ready for new, long-term residents. In this article we’ll get into more detail about what we’ll look for and how you can prepare your rental home for a pre-lease inspection. 

Why Belong inspects every rental home in our network

When it comes to placing residents in homes, Belong has a proud track record of attracting the best of the best for our homeowners. More than two-thirds (71%) of Belong residents renew their 1-year lease. This provides stable, guaranteed income for homeowners and a house that stays in great condition. 

A big part of our success is the standards we hold for homes in our network. Belong’s home standards ensure that your rental will attract reliable residents, the best price, and be loved quickly. It also provides assurances that rental homes in our network are safe, livable and don’t pose unnecessary liability risks for our homeowners. 

What Belong looks for in a pre-lease inspection

Even if your home has already been rented out before, we want to make sure it’s seen in the best possible light. Our pre-lease inspections will focus on two main areas: safety and resident experience. 

1. Safety and habitability in rental homes

Rental homes in the US have what’s known as an ‘implied warranty of habitability’. What this means is that as a homeowner, you need to ensure that your rental home meets basic living and safety standards — even if they’re not specified in a lease agreement. If your house becomes unsafe or unliveable and you don’t take action, your residents may have a legal right to stop paying rent, move out without notice, or even sue you. 

To set you on the right track from day one, Belong inspectors will make sure your rental home is safe, comfortable and ready for occupancy. Safety inspections will check for any signs of damage or deterioration of the home, including: 

Structural integrity of the foundation, walls and roof 

Plumbing, including leaks or other issues that could cause water damage or safety hazards

Electrical system hazards, such as overloaded circuits, exposed wires, or outdated wiring.

Safety features such as smoke detectors, carbon monoxide detectors, and fire extinguishers

Ventilation to prevent moisture buildup and potential mold growth


Any signs of pests, such as rodents or insects

Exterior areas of the rental home, including the yard, driveway, and sidewalks

Inspections also ensure that homes are welcoming to potential residents. We set standards for rental homes to encourage better pricing, less vacancy and attract dependable, long-term residents who want to call your place home. This means making sure the home is in good condition cosmetically and isn’t likely to turn away applicants. Items on this list will vary depending on your home, but broadly, inspectors will be looking at:

The condition of the walls, checking for holes and damage, poor paint jobs

Age and functionality of appliances and amenities

Lawn care to avoid overgrown gardens and weeds

Anything that could attract pests to the home

Inspectors can also make recommendations for simple, cost-effective improvements to maximize your rental income and ROI. 

How to prepare your rental home for a pre-lease inspection 

1. Empty the home of all personal belongings

Unfurnished homes invite long-term residents to make the space their own. It’s also difficult to assess a home that is being used as a storage site! We recommend removing all personal items such as furnishings, furniture, clothing, and construction materials to make the inspection process smoother. 

In order for our inspectors to complete tests throughout the home, utilities such as water, gas and electricity will need to be connected and running. If you’re moving out of the home, remember to leave utilities connected until a new resident has been found. 

3. Finish any construction or DIY projects on the home

Sometimes homeowners are in a hurry to lease their rental home and may want to list it before improvement projects are finished. Home inspections need to assess the current state of your home to ensure it’s move-in ready, so it’s best to start the process after improvements are completed. 

If your home is in desperate need of some TLC, be sure to let us know. Our extensive vendor network can arrange fast repairs to help attract the best possible price. 

A deep clean of your home is an important step in getting move-in ready and up to Belong’s home standards. To prepare for an inspection (not to mention all-important marketing photos and home tours), make sure the home is spotless and yards are not overgrown. 

5. Provide a complete set of keys for the home

How many locks does your home really have? It’s important to get a full set of keys cut to provide to Belong either before or at the time of inspection. It’s easy to forget things that you don’t often use, such as window locks, a garden shed, or even a mailbox key — but your home inspector and new residents will need them. 

Many homeowners hope to one day return to their homes again or make sure their beloved house is well cared for. With Belong PRO, you’ll never have to worry about bad residents, late rent, cost blowouts, or 2 am phone calls ever again. 

Safety standards and a positive experience in your rental home are crucial to finding long-term residents. Learn how inspections get your home move-in ready.

8 tips on how to maximize your rental income, guarantee your cash flow, and get more deductions for each tax season.

8 Ways Self-Managing Rental Owners Can Maximize and Protect Their Cash Flow

When your home becomes a rental, do you treat it like a business or an investment? The answer is a little of both. Turning your home into a long-term rental will change your financial situation overnight. Especially when you take on the role of DIY property manager, managing your rental home will become a side hustle. 

If you’re looking at setting up your accounting and bookkeeping for the first time, check out this simple guide. For pointers on how to maximize your rental income, guarantee your cash flow, and get more deductions during tax season — keeping reading for the answers. 

This article will highlight eight tips on how to manage your rental income and expenses as a self-managed rental owner. 

Keeping rental income and expenses separate from personal finances will make it easier to manage your cash flow and tax records.



Tracking the time you spend on property management tasks can improve your tax deductions and allow you to deduct losses against other income.



Setting long-term goals will make financial planning easier, helping you to achieve bigger objectives such as retirement planning or paying off a mortgage sooner.

Disclaimer: This article provides general information for rental homeowners and should not replace personalized financial planning. Please consult an accountant or tax professional for advice tailored to your personal financial situation. 

8 financial tips for DIY rental property managers 

1. Establish separate bank accounts for your rental home

When you put your home on the rental market, it’s time to split it off from your personal finances. That means a fresh bank account for all income and expenses. This will provide clarity on your cash flow, simplify your record keeping (especially during tax season) and make reconciliation much easier.

If you buy another investment property or inherit a house that you rent out, be sure to repeat this process and open a new account for each home to avoid confusion in your accounting.

Chasing down rent is one of the hardest tasks when managing your own rental home. If your residents are late with payments, your cash flow will fall out of sync. Without stable income, you could fall short on your own financial obligations, putting you further behind every month. 

It's important to be flexible and work out the best payment options and schedules for your residents, making it as easy as possible to meet their obligations. If they get paid monthly, a monthly rent schedule should be easy to stick to. But if they get paid weekly or fortnightly, this may put them behind in those tricky 5-week months. 


Don't rely on cash and cheques, investing in a secure payment platform that is designed for rent payments to reduce fraud. 

Pro Tip: If rent collection is becoming an issue, try Belong PRO. We'll find you people that will love and care for your home and guarantee that rent is paid like clockwork, no matter when we receive it. 

Calculating cash flow on a rental property isn’t quite as simple as the amount you earn in rental income. Nor is it as straightforward as rental income, less your mortgage repayments. To do an accurate rental property cash flow analysis, you’ll need to account for:

Extra income for any services or storage provided

The impact of vacancies on your total income

Operating expenses such as maintenance costs, property taxes, insurance, HOA fees and paying professionals such as contractors and accountants

Any debt or financial liabilities such as mortgage repayments and loans


This cash flow analysis should be kept on a spreadsheet and updated in line with actual expenses, helping you to budget and track your cash flow. 

Read More: How To Do An Accurate Rental Property Cash Flow Analysis

4. Set a budget that includes emergency funds

Do you have a rainy day fund for the unexpected? What about improvements to the home such as replacing an aging hot water heater or upgrading the backyard to attract a higher rental rate? Having extra money in your budget could help you achieve your financial goals sooner and will make sure that unexpected costs don’t derail your personal household budget. 

Pro Tip: If the cost of living is making it too hard to save extra cash, Belong can help there too. We give homeowners the option to spread their rental home costs like maintenance and insurance premiums over the term of their lease. Learn more here.  

5. Set long-term financial goals for your rental home

A cash flow analysis and budget are great for staying on top of your income and expenses. But what about achieving long term goals? Do you need positive cash flow or are you using negative gearing to reduce a tax liability?

If you want to maximize your rental income, start by setting goals for what you’re looking to achieve. Having a clear view of the outcome will make it easier to create a financial plan that helps you achieve them. Even if you are an ‘accidental landlord’ and didn’t set out to become a real estate investor, the right goals could help you pay off your home sooner or work toward your retirement. 

Let’s say for example your goal is to increase your monthly cash flow. Raising the rent could be a simple solution, but a higher price could also increase your vacancy rate and turnover. 

You could visit your budget and cut costs, or you could research your area to see what amenities yield a higher rent. Making cost-effective improvements may cost money now, but help you to achieve longer term goals.

Revisit financial goals whenever you are setting a new budget or making big decisions about your home to ensure they align with your long-term vision. 

6. Don’t leave tax preparation to the last minute

Even if you decide to hire an accountant, you’ll still need to get a handle on the kind of information you need to supply to them and the IRS under Schedule E (Form 1040). Don’t wait until March every year to start looking for your paperwork.

It’s also worth putting away a percentage of your rental income every month to pay tax. Like your income, this should be kept in a separate account so you’re not tempted to spend it.  

Income (minus your deducted expenses) from a rental property is taxed as ordinary income, so how much you earn from other income such as your salary will impact the tax bracket your rental income falls into. You can see the latest tax brackets for rental income here. 


7. Keep a log of the work you do on your rental home

On the subject of tax, it’s important to log all work activity you complete on your rental home, no matter how big or small. The IRS treats investments as passive activity, which affects your tax claims. Most homeowners managing their own rental home or even just making major decisions will qualify for “active participation”. This would qualify you to deduct up to $25,000 of passive losses. You can also be eligible for active participation if you hire a company like Belong to handle all the day-to-day work. 

If your rental home workload is quite high (~10 hours a week or over 500 hours a year), you might be classified as a real estate professional. This means you can offset any losses against other types of income and you won't be subject to the 3.8% tax that applies to net investment income. 

There are regulations, income thresholds and caps on participation and deductions so you will need to speak to an accountant to determine how you qualify. If you can’t show what work you’ve done on your rental home, this is going to be considerably harder so it’s best to keep records throughout the year.

Read More: The Ultimate Tax Prep Guide for Landlords

For self-managing rental home owners, get 8 tips on how to maximize your rental income, guarantee your cash flow, and get more deductions for each tax season.

Self-managing a rental home is challenging. Discover 7 issues you're likely to face and how to overcome them when taking a DIY approach to property management.

Top Challenges of Self-Managing a Rental Home (and How to Overcome Them)

Self-managing a rental home is not an easy road to passive income or long-term wealth creation. Most first-time rental owners confess it quickly became the second job they never asked for. But there are plenty of reasons why homeowners decide to roll up their sleeves and take control of their own rental property management. From the budget-conscious to the experienced and savvy hobbyists, DIY property management can be profitable if done well. 

If you’ve ever asked yourself “do I really need a property manager?” or even “how hard could it be?”, this article will get into the nitty gritty of navigating self management as a rental homeowner.

While you can avoid property management fees, successful self management of a rental home means taking on a lot of responsibility, legal liability, and work.



Over 7.7million households in the US are behind on their rent payments, so safe and effective rent collection is a must 



Local cities and jurisdictions have their own ordinances above standard housing laws, so do your research for your local area before putting your home on the rental market. 



Understanding your strengths and weaknesses as a property manager will help you determine what to take on yourself and when to outsource to professionals. 

What’s involved in managing your own rental property?

First things first, what does successful self-management look like for rental homeowners? It’s not as easy as listing your home online and kicking back while the cash rolls in. When you take on the responsibility of managing your own rental home, think of it like starting a business that you are in charge of. You’ll need to run your home like a business and keep tax documentation in the same way. 

Here is an idea of the kind of tasks you’ll be responsible for on an ongoing basis when you self-manage your own rental property:

Setting up accounting and bookkeeping to manage your rental income and tax

Getting up to speed with local laws and regulations including fair housing laws, tenant rights, eviction processes in your area, and safety regulations

Preparing your house for the rental market, including cleaning and repairs

Securing appropriate insurance coverage for liability, property damage, and potential rental income loss

Photographing and taking video of the home for marketing purposes

Analyzing your local rental market to determine a monthly rental price

Creating an online listing and marketing the home on popular rental websites

Running background checks and calling references for potential residents

Preparing and signing a lease agreement that complies with local rules and regulations

Arranging a move-in date and conducting a pre-entry inspection, keeping a record of the home’s condition

Collecting rent and tracking regular payments

Managing an ongoing relationship with your residents, including being responsive to maintenance and repair requests

Maintaining the property or hiring professional contractors

Arranging regular home inspections to check in with residents and track wear and tear vs damage

Financial management and ongoing documentation of all income, expenses, and communication for tax and compliance purposes

Renew lease at the end of the rental period or manage the move-out process

Inspect the home for wear and tear vs damage to assess and document if there is a security deposit claim

Return any owed security deposit, minus the cost of repairs or extra cleaning 

How time-consuming and challenging these tasks are will depend on the age and scale of your rental home, how far away you live from the property, the residents you choose and whether or not they are compliant with the lease conditions. 

Next we’ll jump into some of the more common challenges of self-management for rental owners. This will be followed by tips for more effective management of your rental home. 

What are the common challenges of self-managing a rental? (and how to prepare for them)

Taking the DIY approach to managing your rental home will come with plenty of ups and downs. Here are seven challenges you should be aware of and how you can address them for more effective self-management of your rental home. 

1. Self-managing a rental home is a drain on your time and energy 

Money is often a driving force behind why people choose to manage their own rental home. It’s common to do a budget and look at what savings could be made by cutting out property management fees. What people forget to account for is how much of their time and energy to budget for. If you have a full time job, live a long distance from the rental home, or are generally time-poor, you could end up spending more than you bargained for trying to find and piece together help when you need it. 

After the financial budget, look at a budget for your time. This will help you determine if you really have capacity to take on the job of property manager. Include allowances for travel time to and from the home, marketing (photography, creating listings, responding to applicants), legal compliance and paperwork, managing repairs and contractors, ongoing communication and inspections, accounting and bookkeeping, and turnover in the home. 

2. You’ll need to chase rent if residents fall behind with their payments

US Census data reported that as between March - May 2023, more than 7.7 million renters were behind on their rental payments, or roughly 13% of rented households. That means there are millions of homeowners with a dent in their cash flow, scrambling to cover expenses while chasing rental income. When you are the property owner and manager, the onus is on you to chase rent every month, which is not a challenge everyone is up for. 

Going the extra mile to do your due diligence on finding the right residents for your home can go a long way in protecting your cash flow. But nothing is foolproof. Anyone can fall on hard times and get behind on rent. Keep your lines of communication open and try to find the payment schedule that best fits into their budget. Be careful with platforms that aren't designed to handle rent too, such as PayPal and Venmo. 

If you're not wedded to self-management, Belong PRO offers guaranteed rent so you never have to think about your cash flow or chasing residents again. We'll pay you every month regardless of when the rent is received. Learn more here. 

3. Finding and vetting the right residents can be complicated

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