How does property management work, for long distance landlords in particular.?
I have a condo In Florida that I must rent within one month. I have to move to NJ by May 1st. I would like to rent through an agency that will charge me a fee for finding a tenant, collecting rent, etc. and possibly listing for sale after the year is up. Is that possible and how to I go about doing something of this nature?
real estate agencies are a good place to start. ask for a licensed property manager when you call.
they usually charge 8-10%, but they may also increase your profits by that much.
be sure to interview more than one company. and ask for some references!
also, be sure to include in the contract any discounts for tenants that YOU find. hop on craigslist.org and post an ad for free!
good luck!
That is not at all uncommon in Florida, almost any real estate agency has a property management division. Keep in mind that depending on where you are in Florida, the summer months are not high season…it’s rainy, muggy, skeeter, thunderstorm hurricane season. You might have trouble finding a renter unless you are by a major attraction.
Look for a good real estate agent. Most Condo associations have a property management company the use unless they are self managed. The real estate agents in the area of your condo are usually familiar with who the property management company is. Most property management companies do not handle single rentals but the entire association.
They will handle everything for the place…fix a leak, any issues in handling the property.and will send you rent money of course with their fee taken out of it first..I recommend it..just make sure to do your research on the company you choose
Some people say get a real estate agent to do everything. You would actually do best to get 2 agents, one to lease and one to sell. A company that specifically specializes in property management for the renting part and a Realtor that specializes in your condo complex when you are ready to sell. This way you can use specialized professionals that can ensure that your property is managed properly, and that you get top dollar when you go to sell.