If you own rental property in Buffalo, you’ve probably asked yourself:
“Why pay a management company when I can do it myself?”
I fell into that same trap in the beginning of my investment journey. I thought self-managing would mean collecting rent, handling a few small repairs, and pocketing the difference. Instead, I struggled to manage the erratic maintenance calls (always on Saturday night!), finding and screening tenants, and the administrative tasks (bookkeeping, lease renewals, bill pay) that are part of running an investment business.
If you have the time, the temperament and the knowledge, self-management can work — but it’s important to know what you’re signing up for. Are you okay taking calls from tenants at all hours of the day and night? Do you want to handle tenant-to-tenant disputes? Are you up to date on the legal requirements?
If not, hiring a management company may be the solution. It cuts down on stress and lets you take back control of your time, so you can focus on what matters most.
Minimize “unseen” expenses
We consulted an investor recently who thought they were saving on management fees by doing it themself. But when we did the math, we discovered that their unit had sat vacant for six weeks due to contractor and coordination issues, costing them $1,800. That’s over one year of management fees, gone in one turnover.
It is common for self managers to lose 2-4 months or more of rent per year from preventable issues, like rents far below market rate, vacancy losses from slow turnover, late rent collection or overpaying vendors for repairs. That’s thousands of dollars, gone.
Avoid costly legal mistakes
New York has some of the most tenant-friendly laws in the country, and Buffalo courts expect you to know them. Messing up the process could void your own lease, delay an eviction by months, and result in a hefty bill for court costs, tenant attorney fees, and even damages.
At Nickel City Property Management, we’ve stepped in to correct legal missteps for more owners than we can count. These are avoidable losses — if you know what you’re doing and you have the experienced team to execute.
Professional screening reduces evictions
Without professional tools, many DIY landlords rely on gut feeling or online apps to screen tenants. Often, you end up with the wrong person in your unit — and it takes months to get them out.
Our data-backed scoring system includes a credit check, an income verification, and a background check, which minimizes risk from the start (and reduces evictions).
Freeing up your time…
… so you can get to the next level.
If you’re answering maintenance calls and chasing down rent, you’re not sourcing new deals, improving your portfolio and building passive income. Self-managing isn’t scalable, and it’s not a true business model. Why run a rental when you can run a business?
In other words, bringing a good property manager onto your team can let you work on your investments — instead of just keeping your properties afloat.
(It can save money, too: Let’s say your time is worth $50 per hour. If you spend even 10 hours a month managing your rentals, that’s $6,000 per year.)
At Nickel City Property Management, we help owners eliminate stress, reduce losses, and unlock the full potential of their rental properties.
