I have a house that has been on the market for almost a year and would like to look into making it a rental property. I live out of state and will need a manager. How do I find one and what information do I need from them?
Both answers are great.
You might want a professional Realtor to sit down with you and look at ALL of your options. It might be that renting is the best option and a good Realtor will know a good property manager. North Atlanta Realty is a good property manager in this area, Doug Wansley can help you in that regard.
If you are out of state, selling is usually the best option, unless the home is recently purchased.
The zip code suggest you are in Winder, depending on where you are in Winder, it should be very easy to rent out to the doctors at the hospital or the construction workers (depending on the homes) that live in the area.
Why do you need a property manager? Put an ad in the paper and rent it out yourself. Advertise "lease/purchase option available" and from my personal experience you get more calls and 9 times out of 10 you have someone who only wants the rental end of it today, they are a good tenant, and now-a-days you can let your fingers do the walking and get a handyman or contractor over to fix an issue if one arises. This is really easier than you might think, and you might get a viable buyer living in the house if you want to end up selling down the road.
Great Question. But I would add a word of caution. In today’s market property managers are popping up like weeds, so I would caution that you interview based on experience and referrals only. Because you want a property manager that can find, screen, check and double check possible tenants collect payments and visit the property to check condition and compliance issues. I have had sever "new" sellers come to me as a result of trying to rent only to find the tenet did was a non pay and on exit trashed the house far above what the deposit covered. Now they are selling and glad to be a part of a short sale just to be done with the hassle. So please interview and re interview you new business partner carefully.
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