So how do I manage needed maintanence on the house while I'm away...is there a company I can have manage this for me?
2007-03-07 16:19:14 · 5 answers · asked by Sweet Honey 4 in Business & Finance ➔ Renting & Real Estate
There are usually management companies that will handle rentals for you for a small fee. The fee varies but I think it's usually around 10% of the income per month.
2007-03-07 16:23:47 · answer #1 · answered by k_hart100 3 · 0⤊ 0⤋
Most communities will have a property management company. Many times property management is a service offered by a real estate company who mainly sell homes. It is many times best to find a firm that focuses on only management. Consider asking around, check the local papers to see who is advertising homes for rent in the same area and do some searches on the web.
Expect that such services have different fees for different levels of service. Get them to explain to you just want is included and what is not included.
Ask for references and then contact the references. Not all management company do a good job.
You also want to understand how repairs and other work will be handled. Do they make a margin on work they order (they get a fee on top of what is charged by the vendor doing the work)?
See if they can send you a sample statement so you will have an idea of how you will get updates. If they provide online access then ask to look at the sample information so you can see what is presented online.
2007-03-07 18:49:14 · answer #2 · answered by Anonymous · 1⤊ 0⤋
You need a property manager. You should get one that's in the same city that the house you're renting out. They will take care of everything, such as checking their credit, doing a background check, evictions and the maintenance of the home. They usually charge about 10% of the rent. Good Luck.
2007-03-07 16:28:09 · answer #3 · answered by Ana D 3 · 0⤊ 0⤋
Try googling property management in the community your house is in. Try to get references...some are better than others. I used one and it took some of the headaches away. When you get a prospective tenant, again, get references. Dont jump at the first one that comes along. Get at least 3 to choose from. If none seem adequate then wait. A month of lost rent is cheaper than getting a problem tenant.
2007-03-07 16:30:58 · answer #4 · answered by rokdude5 4 · 0⤊ 0⤋
You contact a rental management agency . they do all the work for a small comission.
2007-03-07 16:28:19 · answer #5 · answered by EL-BRAY 3 · 0⤊ 0⤋