Self-Managing vs Hiring a Property Manager: A Realistic Comparison

Property Management in Ontario

Managing your own rental property saves money on management fees — but the true cost calculation must account for your time, legal exposure, and the opportunity cost of your attention.

The fee for professional property management in Ontario typically ranges from 8 to 12% of collected rent, plus leasing fees (typically half to one full month's rent) for each new tenancy. For a single property generating $2,200 per month, management fees are $176 to $264 per month, or $2,112 to $3,168 per year.

Key Responsibilities and Best Practices

Self-management involves: responding to tenant maintenance requests (often at inconvenient hours), coordinating and supervising contractors, conducting inspections, managing lease renewals, handling tenant turnover (cleaning, repairs, advertising, showings, screening, lease signing), and managing LTB procedures if issues arise.

Time is the most underestimated cost of self-management. A landlord managing 2 to 3 properties typically spends 5 to 10 hours per month per property on average — more during turnover or disputes. At even a modest value of $50/hour for your time, the true cost of self-management quickly approaches or exceeds professional management fees.

How D&D Property Management Helps

Legal exposure is the most significant hidden cost. Ontario's Residential Tenancies Act is complex, frequently updated, and unforgiving of procedural errors. A single improperly served notice can void months of process and restart the clock. A landlord who mishandles a maintenance complaint or housing standard issue can face LTB orders, rent abatements, and Human Rights Tribunal complaints.

Portfolio scale changes the calculus. A landlord with one or two properties and time flexibility may legitimately self-manage. A landlord with 5+ properties or a full-time career should honestly assess whether self-management is the best use of their most limited resource — time.