Pros and cons of hiring a property manager

(from the perspective of a professional team that actually cares — Prospera Properties)

Managing a rental property seems straightforward from the outside: you find a good tenant, collect rent, and call it a day. But anyone who has actually owned or managed rental property knows the reality can be far different — unexpected repairs, late-night calls, tenant disputes, legal headaches, vacancies, and a whole lot more.

That’s where property managers come in.
But here’s the truth: not all property managers are created equal.
And before you hand over the keys to your investment, you should know exactly what you’re getting into.

At Prospera Properties, we’ve seen both sides — we’ve worked with owners who had amazing experiences and others who had horror stories with other London rental companies. That’s why we want to pull back the curtain and give you an honest look at the pros and cons of hiring a property manager.

The Pros of Hiring a Property Manager

1. Save Time and Headaches

Ask any landlord who manages their own property, and they’ll tell you: it’s a second job.
Screening tenants, coordinating repairs, chasing rent payments, handling complaints — it’s a full-time commitment.

A good property manager gives you your time back.
Instead of worrying about a leaking bathroom at 11 PM or a tenant who’s two weeks late on rent, you can focus on your career, your family, or your next investment.

At Prospera Properties, we even respond to maintenance emergencies within hours — like the time a tenant called us about a clogged bathroom and we had a plumber there within four hours, plus we educated the tenants on how to prevent it moving forward. We also offer free downloadable guides to help tenants avoid unnecessary damage and costs — keeping owners protected and tenants happy.

2. Better Tenant Quality

Finding the right tenant is arguably the most important part of managing a rental.
Bad tenants can cause thousands of dollars in damage, drag you through evictions, or tie up your property in court battles.

Experienced rental companies in London, like ours, know how to screen properly:

Verifying employment
Checking rental histories
Running credit and background checks
Conducting in-depth interviews

And it’s not just about finding someone who can pay rent — it’s about finding someone who will respect your property.

3. Legal Protection

Tenant laws in Ontario can be complex — and frankly, unforgiving if you make a mistake.
Simple paperwork errors can cost thousands. Mishandling a tenant issue can result in tribunal rulings against you.

A knowledgeable property manager (one who understands property management in London Ontario) stays updated on regulations, protects you from liability, and can even represent you legally if needed.

4. Higher Occupancy and Better Returns

Vacancies are expensive. Every month your property sits empty, you lose not only rental income but also cash flow to cover your mortgage, taxes, and maintenance.

A smart property manager:

Prices your unit correctly
Markets it aggressively
Shows it efficiently
Closes leases faster

Our team at Prospera Properties, for example, leverages every major listing site, professional photos, and fast tenant screening to keep vacancy rates as low as possible.

The Cons of Hiring a Property Manager

Now — we’ll be honest. Hiring a property manager isn’t always sunshine and rainbows.
Here’s where some owners get burned, especially if they don’t choose wisely.

1. Bad Property Management Companies Exist

This is the elephant in the room.
Not all rental companies in London operate with professionalism and integrity.
Some property managers got into the business for the wrong reasons — money and flexibility — and prioritize their own schedules over your property’s needs.

We’ve seen it firsthand:

Slow response times
Poor tenant communication
Ignored maintenance issues
Minimal oversight of properties
Careless tenant selection just to “fill” units

These managers can cost owners thousands — in damages, unpaid rent, tribunal disputes, or simply lost opportunities.

At Prospera Properties, we built our business because we hated seeing owners get treated like just another number.
We treat every property like it’s our own.
We respond fast. We prioritize maintenance. We build tenant relationships that prevent issues before they start.

2. Costs Add Up (if You Don’t Get Value)

Property management typically costs between 8-12% of your monthly rent.
While that can be worth every penny for a good company, paying for poor service is like lighting money on fire.

At Prospera Properties, we believe every dollar you pay us should come back to you in:

Peace of mind
Higher occupancy
Higher quality tenants
Less risk
Less stress

If a property manager isn’t delivering on that, the cost quickly outweighs the benefit.

3. Less Direct Control

When you hire a property manager, you are trusting someone else to make daily decisions about your property.
For owners who like a very hands-on approach, this can feel uncomfortable.

The best way to ease that discomfort is to choose a company that communicates clearly and keeps you involved.
At Prospera, we provide monthly reporting, maintenance updates, and owner check-ins — so you’re never left wondering what’s happening with your investment.

How to Avoid the Wrong Property Manager

Here’s the key: vet your property manager like you would vet your tenant.
Ask real questions:

How fast do you respond to maintenance calls?
How do you screen tenants?
What’s your average vacancy time?
How often do you inspect properties?
Can I speak to current clients?

And most importantly — trust your gut.
If a company feels disorganized, slow, or all about the sales pitch, run.

At Prospera Properties, we encourage owners to ask us the tough questions.
We don’t just sell you a service — we earn your trust by showing how we protect and grow your investment.

Final Thoughts: Should You Hire a Property Manager?

Hiring a property manager can be one of the smartest moves you make for your rental property — if you choose the right one.
The right manager can:

Save you time
Protect you legally
Maximize your returns
Give you true peace of mind

But the wrong manager can cost you big — financially and emotionally.

At Prospera Properties, we know property management is not just about “collecting rent” — it’s about building long-term success for owners and great homes for tenants.
We’re proud to stand apart from the crowd of London rental companies by offering exclusive rentals and proactive, high-standard property management in London Ontario.

If you’re ready for property management that feels like a partnership, not a gamble — reach out to us today.