The useful comparison between self-managing and hiring a property manager is not simply management fee versus zero. Self-management uses owner time, local availability, records, vendor relationships and the ability to absorb interruptions. A management proposal transfers only the work identified in its written scope.
This worksheet helps you price the same operating year both ways. It does not assume that hiring a manager will increase rent, eliminate vacancy or prevent every costly problem. It shows which responsibilities remain with you, what each option costs in cash and time, and where your current process needs stronger coverage.
Choose one property and one comparison period
Start with a single Ottawa rental or a clearly defined portfolio and use the next 12 months as the comparison period. Record the current tenancy status, expected lease dates, known maintenance, property type and any travel required to attend the home. Using the same facts for both columns prevents a stable self-managed year from being compared with a manager's turnover-year proposal.
Run at least two versions when a tenant change is possible: a stable-tenancy year and a turnover year. Leasing, showings, condition documentation and move-in work are concentrated costs. Keeping them separate from recurring management makes the comparison easier to audit.
- Property or portfolio being assessed
- Current occupancy and lease status
- Known maintenance or turnover work
- Owner's distance from the property
- Stable-year scenario and turnover-year scenario
Worksheet part one: record direct self-management costs
List money paid because you manage the rental yourself. Do not include the mortgage principal or ordinary property expenses that would exist under either model. The goal is to isolate administration, leasing and coordination costs that can differ between the two options.
Use actual invoices from the previous year where possible. If a cost is uncertain, record a range and label the assumption. Do not set a repair budget to zero in the managed column: the owner still pays authorized property expenses even when a manager coordinates the work.
- Advertising, listing media and screening-service charges
- Travel, parking and property-visit expenses
- Bookkeeping, document storage and communication tools
- Lock, key, access and showing expenses
- After-hours trade callouts or emergency attendance
- Legal, paralegal, accounting or specialist work, shown separately
Worksheet part two: put a value on owner time
Track time by task for at least one representative month, then add known annual events. Choose an hourly value that reflects what an interrupted hour is worth to you; it is a personal decision input, not an invoice or tax deduction. Multiply hours by that value and keep the result separate from cash expenses.
Use the formula: annual owner-time value = recurring monthly hours x 12 x chosen hourly value, plus turnover hours x chosen hourly value. For a portfolio, record hours by property so one high-maintenance unit does not disappear inside an average.
Recurring time rows
Estimate each row independently and include follow-up, not only the first message or call.
- Tenant communication and request tracking
- Rent records, receipts, statements and owner bookkeeping
- Maintenance intake, quotes, approvals and completion checks
- Vendor scheduling, access and invoice review
- Routine property visits and condition records
- Calendar monitoring, notices and document administration
Turnover time rows
Estimate turnover separately because it may not occur every year but can consume many hours in a short period.
- Rental-readiness planning and turnover coordination
- Listing preparation, inquiry response and showings
- Application handling, consented screening and owner decisions
- Lease preparation, signatures and move-in handoff
- Condition records, keys and account changes
Worksheet part three: identify coverage gaps
Some management needs are about dependable coverage rather than hourly cost. Mark who responds when you are unavailable, who can meet a vendor, where property records are stored and how an urgent request moves from tenant message to authorized work. A blank answer is an operating gap that should be resolved in either model.
Do not assign a speculative dollar value to every risk. Record the event, the current response path and the improvement you need. This keeps the decision grounded without pretending that management guarantees a financial outcome.
- Routine request owner and backup contact
- After-hours intake and escalation path
- Local attendance when the owner is away
- Approved vendor list and spending authority
- Documented tenant and vendor communications
- Handoff to a qualified professional when specialist advice is required
Worksheet part four: convert proposals into annual dollars
For every management proposal, calculate the recurring charge for the same 12-month period and add applicable HST. Then add leasing, renewal, inspection, administration, maintenance-coordination, after-hours, cancellation and other conditional charges that could apply to your scenario. Note what triggers each charge instead of assuming it will or will not occur.
Ask for custom portfolio pricing when several properties or units are included. A consolidated proposal should still show the covered properties, service scope, authority and any charges that vary by event. Do not use a single blended number if it hides what will happen during vacancy or turnover.
- Recurring management: amount, calculation basis and HST
- Leasing or tenant placement: amount and payment milestone
- Inspection, renewal and move-out charges
- Vendor markup or maintenance-coordination fee, if any
- After-hours, notice, project or file-transfer charges
- Owner reserve, approval limit and emergency authority
Worksheet part five: compare responsibilities line by line
Place self-management and each proposal beside the same task list. Mark each row as owner, manager, shared or separately priced. A service should not receive credit for work that the agreement leaves with the owner, and self-management should not be scored as free when the task regularly displaces other priorities.
Pay particular attention to the transitions between people. For example, receiving a maintenance request has limited value unless someone assesses urgency, obtains authority, schedules access, follows up and connects the completed work with an invoice. Compare the full workflow rather than the first step.
- Rental preparation, marketing and showing coordination
- Consistent screening records and owner approval
- Lease and move-in administration
- Rent administration and tenant communication
- Maintenance intake, vendor oversight and completion records
- Inspections, reporting, renewals and move-out coordination
Read the worksheet result without forcing a conclusion
Self-management can be a sound choice when you have time, local coverage, organized records, reliable trades and a process you can maintain. Full management may be the stronger fit when recurring work, distance, after-hours coverage, reporting or vendor coordination is the problem. Leasing only can solve a concentrated tenant-placement project while the owner retains day-to-day management.
Review the result once a year and after a major turnover or portfolio change. The right model can change as properties are added, owner availability changes or a previously informal process becomes difficult to operate consistently.
Bring a completed worksheet to the proposal meeting
Share the property facts, workload rows and coverage gaps with the management company. Ask it to identify what its agreement resolves, what remains with you and what requires a separate professional. Request a written quote with a defined scope and fee schedule rather than an invented one-size-fits-all percentage.
Homes for Rent Ottawa can quote complete management, custom portfolio support or standalone leasing. The comparison should remain specific: services, authority, reporting, fee triggers and the owner decisions that still matter.