Caretaker + Software vs Property Manager - Which Saves You More?
If you manage rental property from abroad, you've faced this choice: hire a property manager, or rely on a caretaker and hope for the best.
There's a third option that most diaspora landlords don't consider: caretaker + property management software. Here's how the costs compare.
The property manager model
In Kenya, property managers typically charge 8-12% of monthly rent. In Nigeria, it's 10-15% plus extras (tenant finder fees, lease renewal fees, inspection charges).
For a 10-unit building earning KES 30,000 per unit:
- Monthly rent collected: KES 300,000
- PM fee at 10%: KES 30,000/month
- Annual PM cost: KES 360,000
And the transparency problem remains. Property managers control the information flow. You see what they want you to see.
The caretaker + software model
A caretaker in Nairobi earns KES 15,000-25,000 per month. Property management software costs KES 2,500-5,000 per month.
Same 10-unit building:
- Monthly rent collected: KES 300,000
- Caretaker salary: KES 20,000
- Software: KES 2,500
- Total: KES 22,500/month
- Annual cost: KES 270,000
Savings: KES 90,000/year (25%) - and you get better visibility.
The visibility difference
| What you get | Property Manager | Caretaker + Software |
|---|---|---|
| Monthly financial report | Yes (their version) | Yes (real-time, verified) |
| Photo proof of repairs | Rarely | Every time |
| Real-time payment notifications | No | Yes |
| Expense approval before spending | No | Yes |
| Audit trail | No | Yes |
| Direct tenant payment tracking | No | Yes |
When the PM model makes sense
Property managers earn their fee when you have:
- 50+ units across multiple locations
- Commercial tenants with complex leases
- No trusted person on the ground at all
- Properties in areas you've never visited
When caretaker + software wins
The software model works best when you have:
- 3-20 residential units
- Someone on the ground you partially trust (relative, hired caretaker)
- Properties in cities with M-Pesa or digital payment infrastructure
- The desire to actually know what's happening at your property
The bottom line
A property manager gives you convenience at the cost of transparency. A caretaker gives you presence at the cost of accountability. Software bridges the gap - giving your caretaker accountability while giving you the transparency that property managers rarely provide.
The question isn't "PM or caretaker?" It's "do I want to see what's happening, or do I want someone else to tell me what's happening?"
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