Managing your own rental might seem like a good way to save money—but DIY landlords often make mistakes that end up costing far more in the long run. If you're on the fence about hiring a professional property manager, here are six common mistakes that can quietly drain your profits—along with real-life scenarios (hypothetical, but based on industry norms) to show just how expensive they can get.
1. Overpricing the Property
The mistake: Setting the rent too high and ignoring professional pricing advice.
The cost: Thousands in lost rent.
Example:
A DIY landlord lists their rental at $2,400/month, despite market comps showing $2,100–$2,200/month as more realistic. Because of the inflated price, the property sits vacant for two extra months, resulting in over $4,200 in lost rent money that’s gone for good.
Even if the landlord eventually finds a tenant at $2,400/month, the $300 monthly difference compared to a $2,100 market rate only adds up to $3,600 extra over an entire year. That’s still less than what they lost during those two vacant months.
In trying to “save” on management fees, the landlord ended up losing the equivalent of about 17 months of professional property management services.
2. Neglecting Small Preventive Maintenance Tasks
The mistake: Skipping low-cost upkeep (like air filter changes) that prevents expensive repairs. The cost: Full system replacement, tenant dissatisfaction, and property damage.
Example:
Skipping routine air filter replacement (an inexpensive item) leads to poor HVAC performance. The unit overworks and fails. Replacing the system costs $6,500, versus less than $150/year in filter replacements. Bonus: tenants suffered through multiple maintenance delays, and now they’re moving out early.
Vintage Real Estate’s air filter replacement service prevents this!
3. Not Documenting Property Condition Correctly
The mistake: Failing to conduct and document move-in inspections.
The cost: Losing security deposit disputes and being stuck with repair bills.
Example:
A DIY landlord lets tenants move in without a written condition report or photos. At move-out, there’s $1,200 in drywall and flooring damage. The tenant disputes the charges and wins—because there’s no proper proof and documentation that the damage wasn’t pre-existing. That’s $1,200 out-of-pocket, easily avoided with proper documentation.
4. Responding Slowly to Emergencies
The mistake: Being unavailable or slow to respond when emergencies hit.
The cost: Escalating damage, bigger repairs, and possible code violations.
Example:
A leak starts under a kitchen sink while the landlord is on vacation. The tenant reports it, but it’s 4 days before anyone can investigate. The leak spreads to the subfloor and adjoining wall. Instead of a $150 pipe repair, they’re now paying $2,800 for floor and cabinet remediation—and dealing with an unhappy tenant.
Our sister company, South Shore Contracting, is available to respond quickly to all our customers’ maintenance issues for the best price.
5. Mishandling Tenant Turnover & Screening
The mistake: Failing to plan for lease expirations or rushing tenant screening.
The cost: Extended vacancies, rushed repairs, bad tenants.
Example:
A landlord lets a tenant move out with no plan in place. It takes 6 weeks to clean, repair, photograph, and re-list the unit—and they accept a new tenant without thorough screening. That tenant ends up missing rent and getting evicted. Between the vacancy, eviction costs, and repairs, they lose $9,500+ in under 6 months.
6. Missing Out on Tax Deductions
The mistake: Not tracking deductible expenses or claiming what you're entitled to.
The cost: Higher tax bills and missed savings.
Example:
The landlord forgets to deduct $4,000 in eligible expenses (like repairs, insurance, and mileage) due to disorganized records. That’s roughly $1,000 lost in tax savings, assuming a 25% tax bracket. Meanwhile, a property manager provides detailed monthly reports and year-end summaries.
Total Cost Tally:
Let’s add that up:
$4,200 lost in vacancy
$6,500 in HVAC replacement
$1,200 in tenant damages
$2,800 in emergency repair costs
$9,500 in turnover and eviction losses
$1,000 in missed tax deductions
→ Total: $25,200 in avoidable losses
And that’s from just one rental property. Over a few years—or with multiple units—those numbers can snowball fast.
Want to Stop Losing Money?
Hiring a property manager doesn’t cost you money—it protects your investment.
Let’s protect your Tampa-area rental property (and your profits).
Request a free consultation with Vintage Real Estate Services today.
David Sigler is a Florida native who grew up in Fort Lauderdale Florida. He attended the University of Central Florida where he received his bachelor’s degree in Business Administration. David has since become a licensed General Contractor & Real Estate Broker. He has been active in Florida real estate and construction for over 15 years. During the Great Recession he was forced to refocus his ambitions and landed on property management. Starting with a handful of homes that could not be sold, he grew his portfolio and eventually bought the brokerage. With his experience, knowledge, and resources, his company prides themselves on successful turn-key residential investment solutions. He now manages hundreds of homes covering 5 counties and his construction company provides maintenance services to his management company as well as other local managers. David is an active member of the National Association Residential Property Managers and has served on the Florida State Board for over 6 years in many different roles; most recently as the NARPM Florida Chapter President (2019). Active in the GTR community, he has served on the property management subcommittee for over 4 years and recently as chair of the group. He is also active in local and state legislation that affects the property management industry. His unique understanding and perspective of property management and its associated maintenance has provided him with numerous public speaking opportunities. Outside of work, not only is he an avid outdoors man and a board member for several local Non-Profit organizations, but first and foremost a Father and Husband.