Mendell Gosnell, CPMPrincipal Broker, Centurion Real Estate Services · Helping Real Estate Investors Build Generational Wealth Through Smart Property Management | Branch Offices in Salem, Corvallis, Eugene and Redmond.

Professional Property Management vs. DIY: Salem, Oregon Landlord Advice

10 Feb 2015 · 3 min

Watch on YouTube

3:02

In this video, Mendell Gosnell, owner of Centurion Real Estate Management, compares professional property management with do‑it‑yourself (DIY) landlord management. He frames the decision around cost, time, and expertise, explaining that professional managers bring specialized knowledge, dedicated resources, and the ability to treat a rental as a business, which can increase revenue, reduce expenses, and protect against liability. He warns DIY landlords of common pitfalls such as missed rent increases, delayed repairs, and non‑compliance with fair‑housing and landlord‑tenant laws. While acknowledging that owners may care deeply about their property, he argues that professional firms can often care for it better through in‑house maintenance and systematic management. The video concludes by urging viewers to consider the true value of their time and expertise and to contact his company for further guidance.

Chapters

Hi, my name is Mendell Gosnell and I'm the owner of Centurion Real Estate Management. Today I'd like to talk to you about professional property management versus do-it-yourself management. It really comes down to cost and do you have the time and experience to do it yourself? On the one hand, professional management will have knowledge and expertise, time and resources, and generally management is all they do. On the other hand, the old adage comes into play: no one's going to care for your property like you do. It's really an opportunity cost. For instance, with the do-it-yourselfs, some things to be aware of: oftentimes the do-it-yourselfer will be so intent on keeping the property full that they'll lose track of timely rent increases, or they'll be trying to save money and let needed repairs go too long, or they might not stay current with the changing trends, demographics, and the neighborhood. Advice to the do-it-yourselfer when it comes to management: you should treat your rental property like a business and an investment. Also, be aware of liability issues and risks. You should know the law and follow the rules, specifically fair housing and landlord-tenant laws. One thing to be aware of for the do-it-yourselfer, if you're doing your own maintenance, that's great and a great way to save a lot of money. However, if you are hiring outside maintenance repair people, oftentimes professional management can save you a lot of money when they have an in-house maintenance department. Also, a professional property management company should pay for itself by increasing revenue, decreasing expenses, and not to mention limiting liabilities and improving the overall long-term appreciation of the property. Again, what is your time worth, and do you truly have the skills and expertise necessary to maximize the potential of your rental property? Lastly, on the one hand Nobody is going to care for your property like you do. On the other hand, however, nobody is going to take as good care of your property than a professional property management company. If you have more questions, contact us today.