Landlord Question and Answer Forum

Any tips? I new to renting.

You might consider hiring a property manager, or at least a leasing agent, who can advertise for you, show the rental property, screen tenants, etc. Collect the rent electronically if possible.

Posted by Renee R, MD on Wednesday, June 29, 2011

I tried two property managers because I have the same situation and my properties are also in another state. One was robbing me blind and let the properties run down. The second property manager basically did nothing and also let the properties run down. They say if you can find a good property manage he is worth his weight in gold. Well I have decided can't afford one since over the last two years I have spent over $20, 000 getting my properties back to or better condition than when I first bought them. As for advertising you can get free advertisement through Criag's List or E-Bay and I also use a paid advertisement that has really helped me since I can text, e-mail information on my rentals directily from my paid web site. Try rentalads.com they are well worth the little money you pay. Depending on the state you are in contact your local buisnesses, and ask them to recommend a handyman, landscaping, electrican, plumber that you can use to take care of some of your repairs. Home Depot ask for the Pro Desk they are very helpful. As for getting your rentals advertised try finding a cleaning person that will take before and after pictures and is computer literate and will e-mail them to you. You can use these pictures to advertise your properties with in that state, and through rentalads.com advertise nationwide, which brings in tenants that are applying for employment from other states. Although E-bay allows you to advertise up to 9 pictures for free. Also I would recommend you contact the chamber of commerce, border patrol, and local schools, to see if they have a bulletion board and send them a flyer via fax or e-mail. E-Bay program has the simplest one but again rentalads.com has so much more to offer and because of it's rental distrubution network of partners you get even more coverage. So you will need a computer with fast internet service, fax/copy/scan printer and nation wide phone service and you are set. It has been a learning experience but well worth it because I realized I don't need a property manager and I am doing a better job of taking care of my properties and advertising them. Example - between May and July I had six vacancies and by August 6th I was fully rented once more. Word of caution you do need site managers or at lest someone that they can contact within the state so they can leave a notice for you. I use my handyman which I have know for over ten years. Also I have one person at each of my properties that I designated site manager in case my handyman isn't available and there is an emergencies to contact me. So make sure you have a list of your repairmen you will need: handyman, plumber, electrician etc. Also by discounting rent or just keeping a good repor with my tenants (by taking care of the repairs needed) they help advertise and rent my apartments as well. Two of my teachers that have rented from me for over the last two years help me rent two of my units this year. So good luck! mj

Posted by Mary J, CA on Thursday, September 8, 2011