Full Service vs Partial Service Property Management

Pros

1. Convenience: Comprehensive handling of all property management aspects.
2. Expertise: Professional approach to tenant relations, legal issues, and maintenance.
3. Time-Saving: Owners don’t have to manage day-to-day operations.

Cons

1. Cost: Typically more expensive due to the comprehensive services provided.
2. Less Control: Owners might feel distant from the decision-making process.
3. Contractual Commitment: Often requires longer-term contracts, which might be restrictive.

Who is Full Service Management Best for?

Full service property management is best for rental property owners who prefer not to directly deal with the challenges found in property management, but still want to directly own rental real estate. This type of property management is also great for investors who want their investment property to truly be a 100% passive income stream.

Full Service Management Services

• Maintenance
• Marketing & Leasing
• Rent Collection
• Mortgage Payments
• Property Taxes

Pros

1. Flexibility: Owners can choose which aspects they want to be handled.
2. Cost-Effective: Only pay for selected services.
3. Maintain Control: Owners handle specific functions based on their expertise or preference.

Cons

1. Increased Owner Involvement: Owners will need to be more hands-on with the tasks they didn’t outsource.
2. Potential for Overlaps: Risk of miscommunication or overlapping duties.
3. Varied Service Quality: Quality can vary based on what is outsourced and what is managed in-house.

Who is Partial Service Management Best for?

This type of property management is best for rental property owners who want to outsource some of the property management duties, but still keep an active hand in the property’s operations. Partial service management can be a great stepping-stone for those that self manage, to transition into full service management.

Partial Service Management Services

• Maintenance
• Marketing & Leasing
• Rent Collection

Pros

1. Tailored Services: Owners can choose services based on immediate needs.
2. Cost Transparency: Clear understanding of what each service costs.
3. Adaptable: Can add or remove services as needs change.

Cons

1. Lack of Cohesiveness: Different services might not be as integrated as in a full-service setup.
2. Time-Intensive: Owners need to keep track of each individual service and its performance.
3. Potential for Higher Costs: If many services are chosen individually, it might end up being more expensive than a bundled offer.

Who is A La Carte Management Best for?

Property management companies that provide a la carte services are best for those rental property owners who are active in the day-to-day management of their property, but just need assistance with one or very limited type of services.

A La Carte Management Services

• Maintenance
• Marketing & Leasing
• Rent Collection

Is Full Service Better Than Partial Service Management?

When it comes to selecting the type property management service offering, the best choice is usually dependent on your unique needs. If your investment objective is to be as hands-off as possible with your rental property, then full service will likely be a better choice. If you are ok getting occasionally involved, then partial service may be the better option.

How do Property Management Companies Charge for Services?

Property management fees vary based on factors such as the type of property, location, size, and the range of services required. Some companies may include all services for one monthly payment, while others may bill each service separately.

What Services are Offered by Property Management Companies?

Property management companies offer a range of services tailored to the unique needs of the property and its ownership. Depending on whether property management is full service, partial service, or a la carte, these services can include tenant screening and placement, rent collection and lease administration, and property maintenance and repairs, and more.

How Do I Determine Which Service Model is Right for Me?

Consider factors like the amount of time you can commit, your expertise in property management, your specific property management needs, and your budget. If you prefer a hands-off approach, Full Service might be suitable. If you want more control or have a tight budget, consider Partial Service or A La Carte.