Managing a rental property can seem simple at first, until you’re juggling maintenance calls, late rent payments, or legal paperwork.
Whether you’re an investor with one home or a growing portfolio across Hampton Roads, the decision to self-manage or hire a property manager has a big impact on your time and returns.
This guide will help you weigh the pros and cons of DIY property management versus hiring professionals, so you can make the best choice for your goals and lifestyle.
When you self-manage a rental property, you take full responsibility for property marketing, screening tenants, collecting rent, coordinating maintenance, and staying compliant with Virginia’s landlord-tenant laws. It’s a hands-on approach that gives you complete control but also requires significant time and knowledge.
Professional property management, on the other hand, means outsourcing those tasks to licensed experts who manage daily operations and tenant relations for you. Companies like Osprey Property Management handle everything from leasing to maintenance requests while keeping your property compliant with state and local regulations.
In fast-moving markets like Virginia Beach, Norfolk, and Chesapeake, professional oversight can also help you navigate evolving rental laws and fair housing requirements that can be difficult for owners to track on their own.
If you’re considering DIY rental property management, understanding both sides can help you decide if it’s realistic for your situation.
Managing your own property can work well for owners who have the time and are located nearby. Some advantages include:
However, many owners underestimate how much time and energy property management takes. Common drawbacks include:
If you already have a busy schedule or live outside the area, self-managing may create more stress than savings.
Choosing to hire a property manager gives you access to systems, tools, and local expertise that streamline your rental operations.
Working with a reputable company can help you save time and reduce risk. The benefits include:
The main drawback is cost: management fees typically range from 8–10% of monthly rent. You also give up direct control over daily decisions.
However, working with the right team ensures transparency and communication. Osprey’s departmentalized structure means each aspect (leasing, accounting, and maintenance) is handled by specialists who keep owners informed every step of the way.
There’s no one-size-fits-all answer. The right choice depends on your time, experience, and investment goals. Here are some factors to consider to decide if professional property management is right for you.
Ask yourself if you have the time to market your property, screen tenants, and handle maintenance emergencies. Managing even one rental can feel like a full-time job. If you’re juggling other responsibilities, hiring a professional may offer a better balance and less stress.
If you own one nearby property, self-managing could make sense. However, once you add more units or properties in other cities, it becomes harder to keep up. For example, if you live in Virginia Beach but your rental is in Portsmouth, a professional manager can respond faster to tenant needs and protect your property’s reputation.
Virginia has detailed regulations on security deposits, lease renewals, and eviction procedures. Property managers stay compliant with these laws and handle all required documentation, minimizing risk for owners who aren’t familiar with the process.
While management fees may seem like an added expense, professional management can actually increase your returns by lowering vacancy rates, attracting better tenants, and protecting long-term property value.
Osprey’s Guaranteed Rent Program adds another layer of protection, ensuring consistent income even if your home isn’t leased within 60 days. That kind of reliability helps investors plan confidently for the future.
Osprey Property Management takes a specialized, team-based approach to ensure every part of your Hampton Roads rental operation runs smoothly.
Each department focuses on a specific area (leasing, maintenance, accounting, and owner relations), so nothing falls through the cracks. This structure keeps communication clear and ensures fast, effective service.
Other benefits include:
Serving Virginia Beach, Norfolk, Chesapeake, Suffolk, Newport News, Portsmouth, and Hampton, Osprey combines local expertise with personalized support that helps owners protect and grow their investments.
Ultimately, deciding whether to self-manage or hire a property manager depends on your time, knowledge, and priorities. DIY management can work for owners who are local, experienced, and available. However, for most, professional management provides stronger long-term protection, less stress, and higher returns.
If you’re still wondering, “Should I hire a property manager?” or comparing your options, Osprey can help you make an informed decision.
Contact our team today to schedule a consultation and see how professional management can simplify your rental ownership experience in Hampton Roads.