Investing in real estate is one of the best ways to build long-term wealth but managing that investment is where many landlords get stuck. Should you handle it yourself, or bring in a property manager? The right answer depends on your goals, personality, and how hands-on you want to be.

Option 1: Self-Managing Your Property

Pros:

• Higher Profit Margins: You save the 8–10% monthly management fee.
• Full Control: You personally screen tenants, handle repairs, and approve expenses.
• Hands-On Learning: You gain first-hand experience dealing with tenants, maintenance, and the rental process.

Cons:

• Time Commitment: Tenant calls, rent collection, maintenance scheduling — it can quickly feel like a part-time job.
• Legal & Administrative Burden: Ontario’s Residential Tenancies Act has strict rules for notices, lease wording, and rent increases. Unless you know the legislation inside and out, it’s easy to make a costly mistake – serving notice incorrectly, missing something in the lease, or mishandling a tenant issue.
• Limited Scalability: As you add more properties, managing everything yourself becomes harder and riskier.

Best for:
Investors who live nearby, have extra time, and want to stay deeply involved in every aspect of their investment.

Option 2: Hiring a Property Manager

Pros:

• Hands-Off Ownership: They handle tenant placement, rent collection, repairs, and 24/7 emergencies.
• Legal Compliance & Fewer Mistakes: Property managers do this all day, every day – they understand landlord-tenant law and ensure notices, leases, and documentation are done properly, helping you avoid expensive missteps.
• Better Tenant Retention: Professional screening and quick response times often lead to longer-term tenants.
• Scalable Growth: You can add more properties without adding more workload.

Cons:

• Cost: Typically 8–10% of monthly rent, plus leasing or setup fees.
• Less Control: You’re trusting someone else to make decisions about your asset.
• Quality Varies: A poor property manager can cost you more in lost rent or unhappy tenants.

Best for:
Investors who value time freedom, live far from their properties, or want a completely passive experience.

Hybrid Approach: Best of Both Worlds

Some investors start by self-managing to understand the process, then switch to professional management once they scale up.
Others use a manager for tenant placement only, but handle day-to-day operations themselves.

This approach helps you stay informed while reducing stress especially if you still want oversight without the 2 AM repair calls.

How Much Does Property Management Cost in Guelph?

In Guelph, professional property management typically costs between 5% and 9% of the gross monthly rent, depending on the property type and level of service.
For example, GuelphPM offers management for houses, townhouses, and condos starting within that range.

Even if you plan to manage the property yourself, always make sure your numbers work with a property manager’s fee factored in.
Life changes & you might move farther away, get busier with work, or simply decide you no longer want to handle tenant calls and repairs. The last thing you want is an investment that only stays profitable if you’re doing all the work yourself. By ensuring your property still cashflows after accounting for management costs, you’re protecting your long-term flexibility and financial stability.

Want to see how different management fees impact your returns?
👉 Try out our Cash Flow Calculator to plug in your own numbers and compare scenarios for self-managing vs hiring a professional.

Things to Check / Ask Before You Commit

• What exactly is included in the monthly fee (rent collection, inspections, legal notices, emergency call-outs)?
• Are there extra fees (leasing fee, renewal fee, evacuation/eviction fee)?
• Is the fee a flat rate or % of rent?
• Are there minimums or “hidden” add-ons?
• Does the manager handle legal compliance (notices under the Residential Tenancies Act, etc), or will you still need to do part of it?
• What track record do they have with rental performance (vacancy rate, tenant retention)?

So, What’s Right for You?

Ask yourself:

• How much is your time worth?
• Do you live close enough to handle issues quickly?
• Are you confident with leases, notices, and landlord-tenant rules?
• Do you want this to be a job or a business that runs itself?

There’s no one-size-fits-all answer – it depends on your goals.
But whether you self-manage or hire a professional, success comes from treating your investment like a business and staying proactive.

Thinking about growing your portfolio?
Our GoWylde team works closely with trusted local property managers who make investing as stress-free and profitable as possible.