Landlord Question and Answer Forum

I have 4 rentals about 4 hours north of where I live. Every time there is a problem I have to make that drive to deal with it. I would like to get a property manager to take over, but I don't know how to go about it. Any suggestions so I don't end up getting ripped off? I hired a guy to provide maintenence on the properties and paid him $500 up front. For the one call he did go to, he managed to damage more than he fixed and now I have no idea where to find him. Any help is greatly appreciated.

You might consider calling up local real estate investment clubs in that area, and asking them for a recommendation on a property management company. Otherwise, you can look online, and hopefully find some user reviews.

Posted by Ralph F, CA on Sunday, June 7, 2009

Thanks so much Brian, I appreciate the help.

Posted by Sharon d, TX on Sunday, June 7, 2009

Most property managers charge a percentage of the monthly rental rate which can range anywhere from 6-10%. The cost is actually quite nominal when compared to all the services a property manager can provide, which frees up your personal and professional time.

Posted by Fulton S, CA on Tuesday, June 9, 2009

I have had very bad experience with property manager. In there form it says you will not sue them, And that gives them a free hand to do anything that want to do. Mine rented to dead beats that wrecked the house and left oweing 3 months rent. The property manager refused to return my security deposit, The judge said I could not do anything about it because I agreed not to sue

Posted by David T, MI on Friday, August 28, 2009

Interview some local realtors with property management background. Going with a reputable broker would probably save you time and aggravation. Often these brokers will have contractors ready to go in case a repair is needed. Another option for repairs is to use a home warranty service. They charge a co-pay usually around $60 and will repair most things in a timely manner. Bigger items, may require a larger payment but oftentimes it is a discount. The nice thing about it is usually the service people are quick to reply.

Posted by Denise S, PA on Friday, August 28, 2009