Asset Manager or Manage Tenants Yourself

A property asset manager decides what should happen to your property or portfolio, such as whether to hold, improve, re-let or sell. Managing tenants yourself means you do the daily work: rent, repairs and renewals. If you own one or two units, you may only need help with the daily work. If you own several assets or commercial property, an asset manager is more likely to add value.

What managing tenants yourself covers

You find and screen tenants, sign and register the contract, collect rent, arrange repairs and handle renewals. This keeps cost low and decisions in your hands. It takes time, and every vacancy or emergency is yours to solve.

What a property asset manager does

An asset manager looks at the asset as an investment. The questions are strategic: Is this property earning what it should? Should it be refurbished, re-let at a different rent, refinanced or sold? How does it fit with your other holdings? The work includes performance reviews, reporting, risk checks and capital decisions. Read our corporate guide to property and asset management for the full picture.

Where a property manager fits

A property manager runs the daily operations for a fee: tenants, rent, maintenance and paperwork. An asset manager sits above that and directs it. Some firms offer both, and some asset managers work with a separate property manager. Ask for the scope in writing.

Which option is better at what

• Managing tenants yourself is better at keeping cost down on a small, nearby holding and keeping control.
• An asset manager is better at portfolio-level decisions, commercial and mixed-use assets, capital planning, and consistent reporting across several properties.

How to choose

• One or two units nearby: you may manage yourself, or use a property manager for the daily work.
• Several residential units: a property manager is worth comparing, with an asset manager if you want strategy as well.
• Commercial or mixed-use assets, or a growing portfolio: an asset manager is likely to be worth the cost of a conversation.

Results differ for each owner and property, and no adviser can promise them. For more, see master lease vs traditional property mandate and our portfolio opportunity review. To discuss your holding, explore our asset management and real estate portfolio management services.

Frequently asked questions

What is the difference between a property manager and an asset manager?

A property manager runs daily operations such as tenants, rent and repairs. An asset manager decides what to do with the property as an investment, such as hold, improve, re-let or sell.

Do I need both a property manager and an asset manager?

Not always. Owners of one or two units often need only the daily work covered. Owners of larger or commercial portfolios often benefit from strategy as well.

Can one company do both jobs?

Some firms offer both and some work with a separate property manager. Check the scope in writing so you know who does what.