It’s often the “accidental” landlord, one who just inherited a property as an heir, who also instantly become a property manager. At least initially. If the home is in good shape and a reliable tenant has been signed to a lease and pays the rent on time every time, there really is very little to manage.

That’s real estate investingthe ideal situation. However, seasoned real estate investors will tell you that at some point the phone calls about a leaky faucet or why the trash hasn’t been picked up gets a little old. That’s when a property manager comes into focus.

A property manager will take care of the daily chores or property management, maintenance and collection of rent. At the end of each month, the landlord is sent the gross rent less the property management fee. Sometimes though, a good deal on a property manager may not always be found at a property management company. Have you thought of hiring one of your tenants to handle daily management operations?

Instead of doling out 10% of rental income to a property management company, perhaps you can exchange management with a reduced rental rate. You can find such a tenant when renewing a lease and while individuals with true “handyman” status might be difficult, by advertising for such skills along with the lease it makes it easier. Individual contractors and sub-contractors who need to rent a property in which to live can find a reduced rental rate in exchange for property maintenance. It’s not always easy to arrange and you may feel it best to leave property management to experienced property managers and in most cases that’s true. But you might just find the best of both worlds—a responsible tenant who can help manage your real estate.