Managing a Rental Apartment: Do It Yourself or Hire a Property Management Company?

Before comparing the options, it helps to see the full list. Managing an apartment includes:

• Setting the rent, photographing and advertising the apartment, and showing it to prospective tenants.


• Screening tenants and checking guarantors.


• Drafting a legally compliant lease and obtaining security for the tenant's obligations.


• Transferring utility and municipal accounts into the tenant's name and tracking payments.


• Handling maintenance issues: receiving requests, finding contractors, coordinating work and overseeing repairs.


• Renewing the lease, adjusting the rent and checking the apartment's condition.


• Handling arrears, formal notices and sometimes legal proceedings.


• At the end of each tenancy: handover, inspection, release of security and remarketing.

• *Direct cost: Self-management: No management fees; Property management company*: Management fees, usually a percentage of the rent


• *Time: Self-management: Hours spent on each new tenancy and every maintenance issue; Property management company*: Minimal: updates and approvals


• *Availability: Self-management: You are the point of contact, including evenings and holidays; Property management company*: A tenant service desk


• *Tenant screening: Self-management: Based on experience and instinct; Property management company*: Structured, consistent checks


• *Contractors: Self-management: You need to find and supervise them; Property management company*: An established network and oversight


• *Legal knowledge: Self-management: You need to understand the law yourself; Property management company*: Lease preparation, formal notices and legal support


• *Control: Self-management: Full; Property management company*: Defined in the management agreement

Illustrative example: An apartment renting for 6,000 ₪ per month. Management fees of 7% plus VAT would cost approximately 500 ₪ per month, or around 6,000 ₪ per year. Against that, consider what can happen in a "typical" year:

• One fewer month of vacancy between tenants saves 6,000 ₪ on its own.


• Accurate rent pricing, even 200 ₪ more per month, adds 2,400 ₪ per year.


• Avoiding one problematic tenant through screening can save tens of thousands of shekels in unpaid rent and legal proceedings.

• You live near the apartment and can visit when needed.


• You have free time and enjoy being hands-on.


• You have rental experience and understand Israel's rental laws.


• Your tenant is long-standing and reliable, and the apartment is in good condition with little maintenance required.

• You live in another city or abroad.


• You own more than one property.


• Your time is worth more than the management fees.


• You have already dealt with a problematic tenant, or you are concerned about that possibility.


• You are renting out a property for the first time and want to get it right from the start.

The decision does not have to be "all or nothing." Many companies offer several service levels. Flamingo, for example, offers a basic package with tools such as a WhatsApp bot for tenants and property advertising, while you remain responsible for dealing with tenants, alongside full-service management packages. This lets you start at the level that suits you and move up as your needs change.

Most owners who manage their own apartments do well—until something goes wrong for the first time. The most expensive mistakes tend to repeat themselves: a lease that does not comply with the law, security that was not properly obtained, arrears identified too late, or an attempt to resolve a dispute "on your own" that escalates. If you manage the property yourself, invest at least in a professionally drafted lease and an understanding of the rules for evicting a non-paying tenant.

• An explicit list of what is included – and what costs extra, such as placing a new tenant or overseeing a renovation.


• A repair authorization limit – the amount the company can spend without contacting you.


• When funds are transferred – the day of the month when rent reaches your account.


• Reporting – what you receive, how often and in what format.


• Response times – how quickly routine and urgent maintenance issues are handled.


• Ending the agreement – how much advance notice is required to terminate it.

• Introductory meeting and property inspection – the company gets to know the apartment, the existing lease and the tenant, and recommends a suitable service level.


• Signing a management agreement – defining what is included, the repair authorization limit, how reporting works and when funds are transferred.


• Transferring information and documents – the lease, security documents, tenant details, bills and a list of contractors, if available.


• Notifying the tenant – the tenant receives new contact details for payments and maintenance issues, and everything goes through the company from the following month.

At Flamingo, you can choose between a basic package and full-service management that includes tenant screening, rent collection and monitoring, maintenance, an owner portal, a 360 report and legal support. Everything included in each package is listed on the packages and pricing page, with no surprises.

Not sure which option is right for you? Leave your contact details, and we will work through the numbers with you for your apartment.