Thinking about renting out your Philadelphia home? One of your first decisions is how much of the work you want to handle yourself.
You can manage the home on your own, hire an agent to find a renter, or work with a company that handles the daily tasks. The right choice depends on your schedule, budget, and how close you live to the property.
Here’s how to decide what help you need and choose reliable property management in Philadelphia.
Should you manage your rental yourself or hire a property manager?
Start by thinking about your time and availability. Being a landlord means more than collecting rent. You also need to answer questions, arrange repairs, keep records, and follow local rules.
When managing it yourself may work
You may feel comfortable managing your own rental if you live nearby and can:
- Respond to tenants and arrange urgent repairs.
- Keep track of rent, expenses, and maintenance.
- Follow licensing and tenant-screening rules.
- Set aside money for repairs and empty months.
- Arrange backup help when you are away.
Ask yourself: could you handle a leak during the workday or a tenant moving out during a busy week? If so, managing the home yourself may be a good fit.
When hiring a manager may help
A manager may make sense if you live far away, own several rentals, or have little time for daily tasks. It can also help if you want someone else to be the main contact for tenants and repair companies.
Good rental property management can save you time. You will still need to review statements, approve larger expenses, and pay for repairs.
What exactly do property management companies do?
A property management company handles the rental tasks listed in your agreement, from advertising and leasing to repairs and move-out.
Market your home and find tenants
A manager may recommend rent, prepare the listing, arrange photos and showings, and review applications.
Handle leases and tenant communication
Services may include leases, move-in coordination, tenant questions, renewals, and notices. Ask whether the lease meets Philadelphia requirements.
Collect rent and track expenses
Many companies offer online payments and owner portals. Confirm when you receive rent and how to access statements and invoices.
Arrange maintenance and inspections
A manager can handle repair requests, arrange contractors, and document the home’s condition. Confirm emergency coverage, inspections, and spending limits.
You still pay the property’s expenses. A monthly management fee usually does not cover the actual cost of repairs, cleaning, or major replacements.
Coordinate move-out and next steps
A manager may document damage, handle deposits, and prepare for the next tenant. Ask what eviction support is included and when an attorney is needed.
Can you hire someone just to find a tenant?
Yes. You can hire a real estate agent to help you find a renter while you manage the property yourself. This is often called tenant placement or leasing-only service.
Reach out to Venture Philly Group if this sounds like the right fit for you. Ask about help setting the asking rent, advertising your home, arranging showings, and working through the lease process. Confirm the fee and included services before getting started.
Once the tenant moves in, you handle the ongoing tasks you agreed to keep, such as collecting rent, arranging repairs, and answering tenant questions. Your agreement should clearly explain who does what.
Should you manage your rental yourself or hire a property manager?
Start by thinking about your time and availability. Being a landlord means more than collecting rent. You also need to answer questions, arrange repairs, keep records, and follow local rules.
When managing it yourself may work
You may feel comfortable managing your own rental if you live nearby and can:
- Respond to tenants and arrange urgent repairs.
- Keep track of rent, expenses, and maintenance.
- Follow licensing and tenant-screening rules.
- Set aside money for repairs and empty months.
- Arrange backup help when you are away.
Ask yourself: could you handle a leak during the workday or a tenant moving out during a busy week? If so, managing the home yourself may be a good fit.
How to choose a reliable property manager in Philadelphia
Speak with two or three companies. Ask each the same questions and request a sample agreement before deciding.
1. Find someone who knows homes like yours
Ask whether they manage similar rentals in your neighborhood. A rowhome, condo, and small apartment building can have different needs.
For a condo, ask about association rules and move-in procedures. For an older home, discuss repairs and inspections.
2. Check their license
Ask for the brokerage name, supervising broker, and relevant license details. Pennsylvania’s license verification service lets you check license status and published disciplinary history.
3. Ask how they would price your rental
Request examples of similar rentals that support their suggested rent. Ask what they would do if the home did not attract applications.
A higher asking rent only helps if someone will pay it. Overpricing can leave the home empty longer.
4. Find out how communication works
Who will be your main contact? How quickly should you expect a reply? Who answers emergency calls after hours?
You should also know how the company will keep you updated about repairs and tenant issues.
5. Understand repair costs
Ask who does the work, what they charge, and whether the manager adds a fee to contractor invoices. Confirm how much the company can spend without your approval.
A sample invoice or owner statement can make these costs easier to understand.
6. Ask about screening and city requirements
The company should explain its written screening rules and how it follows Philadelphia’s Renters’ Access Act. Ask who tracks rental licenses, lead paperwork, and required tenant documents, and whether that work costs extra.
7. Read reviews and speak with an owner
Look for repeated comments about communication, repairs, and billing. Ask for a reference from someone with a similar property.
8. Read the agreement carefully
Check the contract length, renewal terms, cancellation fees, and notice period. Ask how deposits, leases, keys, and records are returned or transferred if you leave.
Also check whether you would owe a commission if you later sell the home, including a sale to a tenant.
How Much Does a Property Manager Cost?
Costs vary by property and service. Most companies charge monthly management and leasing fees, plus extra charges for certain tasks.
Leasing Fee
Covers advertising, showings, applications, and lease preparation. It may cost about one month’s rent.
Monthly Management Fee
Covers rent collection, tenant communication, and repair coordination. Philadelphia management fees can range from 5%–9% of rent received, depending on the company.
An 8% fee on $2,000 in collected rent is $160 per month, before repairs, leasing fees, and other expenses.
Additional Fees
Ask about charges for:
Setup: Adding your property and lease to the system.
Vacancies: Managing an empty home.
Maintenance: Coordinating repairs.
Renewals: Preparing or negotiating a lease renewal.
Evictions: Handling notices or legal coordination.
Cancellation: Ending the agreement.
Get a complete fee list before signing. Compare the yearly cost, including leasing and renewals, rather than just the monthly rate.
How do you find a reputable real estate agent for house rentals in Philadelphia?
Look for an agent with rental experience in the neighborhood where you want to lease or rent a home. Verify licensing, read recent reviews, and ask what the service includes.
For owners, ask how the agent will market the home, arrange showings, handle applications, and coordinate lease paperwork. For renters, ask about available listings, service fees, and help with the application process.
Venture Philly Group is a team to contact for both needs. Homeowners can reach out for help finding renters while keeping responsibility for ongoing management. If you are looking for a home for rent in Philadelphia, the team’s Philadelphia realtors can also help with your search.
When comparing rental real estate agents, explain your budget, timing, preferred neighborhoods, and the level of support you need.
Final Words
Whether you hire a property management company also depends on what you want from your rental. Are you focused on maximizing monthly cash flow? Managing it yourself may help reduce fees, if you have the time and skills. Or are you holding the home for potential long-term growth and planning to sell later? Professional management may help you maintain the property while reducing your daily workload. Home values can change, so future appreciation is never guaranteed.
The property itself matters, too. Its age, condition, location, and number of units can affect how much attention it needs. Think about your goals, expenses, and available time before choosing the right approach.
If you decide to manage it yourself, reach out to Venture Philly Group for help finding renters so you can start with support and handle the ongoing management yourself.