For Rent in 28269>Question Details

Sdhall00,  in Charlotte, NC

I am considering leasing my property, is it better for me to rent myself or work with a property management company? Any recommendations on companies?

Asked by Sdhall00, Charlotte, NC Tue Jun 12, 2012

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David Proicou’s answer
Sdhall00,

Give me a call at 704-965-3409 or email me at david@mytownhome.com to discuss. Also, check out http://www.myhomeleasing.com/ to see what we have to offer and our screening process. I manage 13 properties throughout the city, so I would love to work with you.


David Proicou,
Realtor, Broker
704-965-3409 mobile
704-377-7304 fax

david@mytownhome.com
http://www.mytownhome.com/agents/David_Proicou
http://www.lifesharecarolinas.org

My Entire Inventory of VisualTours
http://www.visualtour.com/inventory.asp?U=167154
http://www.mytownhome.com
http://www.maisonproperties.com
http://www.myhomeleasing.com
0 votes Thank Flag Link Fri Jun 29, 2012
You can rent it yourself and cut out the middle man. They don't answer the phone in the middle of the night nor during the day. Management company's are big business now and their interest is self serving. Many want a key deposit and you show yourself the house, the potential tenant does all the work and the management company get paid. There is no personal service.
0 votes Thank Flag Link Tue Jul 23, 2013
A management company will have no emotion in the business of leasing your home. This means when it comes to your monthly rent the sob stories that all landlords hear does not effect them, it just business to them and renters know this. When handling it yourself you will have your emotions tied up in the deal, it's your home and you need the money every month, but you know the person an will feel their pain when they can't pay. When using a management company, the renter will not know you and will not have your phone number. Other benefits is not getting the calls on 100 degree days that the air is out or the 4 am calls that the heat is off. The hardest thing is having to evict someone, the process is tough on a first time landlord. My personal experience is that a management company is worth the expense.
0 votes Thank Flag Link Fri Jun 29, 2012
Sdhall00,

There are many companies I am sure in every area. What you will need to decide is A) how much you want to have to deal with, and what your time is worth. As you have seen in some of the other answers are you willing to get those evening and holiday calls about something going wrong at your rental property? That is what you pay for in a management company. Now I would interview several property managers and see who offers the level of service you would like and what their fees are.

There are many pitfalls that are potentially waiting for you if you wish to "manage" the property yourself. There are the rules of how you handle security deposits if you have multiple properties. Then the application process and how you charge for and what you are allowed to ask and check on. How much do you charge for and collect the money for the application. Background checks, credit checks, and so much more. Do you have the time to take all this on?

Hope this helps,
0 votes Thank Flag Link Thu Jun 14, 2012
Let me know how I can help.
Please feel free to take a look at our site on our full service property management.

http://www.mycompassrealestate.com/property-management/manag…

If you are looking for a Rental Price Opinion on your place please let me know.

http://www.mycompassrealestate.com/property-management/renta…

Thanks again

Brock
0 votes Thank Flag Link Wed Jun 13, 2012
Good afternoon, SD
One of the biggest expenses in leasing a property is the cost to rehabilitate it after the tenant leaves. It is very important to do a thorough background check and choose tenants wisely. One strategy is to set your rent a little below market so that you have a lot of tenants to choose from, then charge all applicants a non-refundable background check fee and pick the best one. If you do not understand lease agreements or have never screened tenants, you need to at least educate yourself regardless of whether you hire a manager or self manage. Nolo Press is a good self help legal that has good resources on landlording. http://www.nolo.com If you need a recommendation for a management company, please contact me. If you appreciate an answer, please give "thumbs up". For the most helpful answer, please say thanks with a "best answer" click.
0 votes Thank Flag Link Wed Jun 13, 2012
There is a lot to consider when it cones to renting out your property. You have to decide if you want to be avaialble for showing the house to potential renters, how much you need to clear form the rent to cover your expenses and miscellaneous repairs that can come up and the cost involved in having soemone collecting the money for you and taking a cut.

I have managed a few properties with much success and have managed my own properties with the same luck. As long as you set soem guidelines up front it is not that bad. However; if you are not close by and have to evict or deal with sudden reapris and do not have the time to handle it then a property manager is not a bad option.

If you elect to go that route talk to a few property managers and shop their rates around to see what they charge. There is no set fee for property managment and everyone tends to charge differently.

Dave diCecco
Realtor/Broker
http://www.davedicecco.com
0 votes Thank Flag Link Wed Jun 13, 2012
We specialize in property management in your zip code, give me a call anytime and we can discuss how our company can screen your tenants, accept payments online from the tenants, and handle all your needs from a to z turnkey.
John
704-560-1656
http://Www.charlotteinvestmenthomes.com
http://Www.villagerealestategroup.com
http://Www.rehabprosinc.com
0 votes Thank Flag Link Tue Jun 12, 2012
Hi! Great question...I would recommend at least interviewing a few before you decide. I would be interested in learning more about why you are considering leasing instead of selling as we have a lot of buyers on the hunt right now with a shortage of homes for them to choose from. I'd be happy to discuss this further and if leasing ultimately is the best option for you, I can make some recommendations. Feel free to email or give me a call!

Warm Regards,

Alison Smith, REALTOR®
NC & SC Broker
Jackie Morgan Real Estate Group
Keller Williams Realty
704.996.6747 tel
AlisonSmith@kw.com
http://www.YourCharlotteHomeAgent.com

THE MARKET IS MOVING…ARE YOU! Click Here to See What Has Sold in Your Neighborhood! http://www.AtHomeCharlotteNC.com
0 votes Thank Flag Link Tue Jun 12, 2012
I manage my own properties and have NEVER gotten a call late at night. A lot depends on the level of house you have and how high the rent is. The lower it is, the more problems you are likely to have and I would use a property manager. If it is really nice, you can do it yourself. The difficult thing is checking their credit.

I have a relationship with all of my tenants. They understand that I've put energy, time and money into the place they are renting and it is important to me to keep it up. I prefer to do it this way, others prefer to hand it over to someone else and essentially be anonymous to their tenants.

So it is up to you and what makes you comfortable.

Good luck

Vivian
0 votes Thank Flag Link Tue Jun 12, 2012
Sdhall00, You need to get a property manager as your life will be a lot easier. Yes, there is a small monthly fee, but it is a small price to pay for peace of mind. Give me a call or email me, as I manages properties all over Charlotte.
David Proicou,
Realtor, Broker
704-965-3409 mobile
704-377-7304 fax

david@mytownhome.com
http://www.mytownhome.com/agents/David_Proicou
http://www.lifesharecarolinas.org

My Entire Inventory of VisualTours
http://www.visualtour.com/inventory.asp?U=167154
http://www.mytownhome.com
http://www.maisonproperties.com
http://www.myhomeleasing.com
0 votes Thank Flag Link Tue Jun 12, 2012
Hello Sdhall00, there are benefits to both. I am a property manager and more often then not landlords get to the point that they realize the benefit of working with a professional. We manage over a couple hundred properties and I would be able to answer any questions for you, no strings attached. You can check out my profile too. 704-975-7616 Jeff
0 votes Thank Flag Link Tue Jun 12, 2012
It depends. Do you mind receiving calls in the middle of the night when there is an emergency in the house? Do you have time to be at war with the tenant and running back and forth to court when they decide not to pay. If the answer is no then a property manager might be good option for you. Can't recommend one in your state.
0 votes Thank Flag Link Tue Jun 12, 2012
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