property management people

20
Jun/090

Need help from people who have rented their homes out without the help of a property management company?

I’m thinking of renting out my home myself, without the help of a realtor or broker. If you’ve done that, how did you do it? How did you screen the prospective tenants? I know all leasing contracts are different, but what are the most important things that should be said?

The rent will be high as it is, so I don’t want to charge up to satisfy realtor monthly commission.

As many have stated here already, make sure you check references. One of the mos timportant things to do is get good people into your property. Once you get a bad person in, it is truly a job to get them out.

Make sure you know the laws in your area. Joining a landlord association’s local chapter will help you with this.

Get a lease that protects you and always remember that YOU are the boss in any situation.

Never let any problem continue. If you do you are only setting yourself up for more problems in the future.

Make sure that you rent a property and turn a profit on it. A property should cash flow. If you are only covering the mortgage payment then you can and will lose your shirt in the process. One eviction, extended vacancy, or high cost maintenance item could put you into foreclosure.

Check out different blogs of landlords. I am biased towards http://www.weblogfor.us