Let’s check this out, shall we?
So let’s just say that a property manager agrees to do this for you… to find a tenant for your rental home for a fee of… oh, let’s say $500.
He will do the following for you:
- Order a sign to be put up
- Advertise and show the home to interested parties
- Screen all applications & approve the best one.
Then, after the manager has approved a renter for your property, you will need to take over and do the following:
- Find a quality rental agreement
- Have them sign it
- Collect their security deposit
- Prepare a “Move-In Condition Report”, with photos
- Check them in to the property
- Verify that utilities have been transferred into their name
- Take their phone calls when something breaks… at 3 AM!
- Find competent people to do necessary repairs affordably
- Periodically drive-by to check on the property condition
- Periodically give them notice and go inspect the interior
- Make them follow all the rules of their rental agreement
- Serve them with a 3 DAY NOTICE when they fail to pay rent
- Appear in court for “Unlawful Detainer” (eviction) hearings
- When they vacate, go do a “Move Out Condition Report”
- Give them an accounting of the security deposit you are holding
- Take them to “Small Claims Court” if damages exceed the deposit.
HHhhhmmmm… how does this look to you? The property manager gets $500 for a few hours work and you get… a headache! Are you still sure your idea is such a good one? Looks to me like the guy with the $500 for the best part of the deal!
We won’t find a renter for a fee because we just don’t think it’s a good idea for you… and what’s “GOOD FOR YOU” is something that we here at Red Roof Rentals, LLC think about!
Property management is not for everyone and requires BOTH a love of working with people and a willingness to move swiftly and firmly with tenants that violate their rental agreement or fail to maintain YOUR RENTAL PROPERTY.
Give us a call and find out how little it actually costs to enjoy PEACE OF MIND with your rental properties.