Rent by Owner Vs Hiring a Property Manager
1. Where is your property located?2. How many properties do you own?
3. How many renters will you have at one time.
4. How many weeks would you like to rent out?
5. Do you have anyone to help you with the rentals?
6. Am I willing to give up between 30 - 40% of my rental income to a management company?
7. Who will pick up the supplies as they are needed?
8. Who do I know that is dependable and will do a good job?
9. How will I advertise my property?
10. How do I know what to charge?
11. Will a management company advertise for me?
12. Can I advertise for free? In not, what will it cost?
13. What about emergencies? Who will be "on call" and how will I handle the emergency calls?
14. What are the extra costs involved with a management company? Any hidden fees?
15. How will I know what to pay my housekeeper if I decide to use the rent by owner system?
You can save on management fees by managing your own property. You can be very successful if you take the necessary steps. It can be fun and very rewarding if you have the right attitude and follow the right system. But, if you decide not to try it on your own, then carefully choose the management company in which you feel comfortable. Ask lots of questions. Find out if there are any hidden fees. Ask for references and act on it. Call them to find out if they ever had any problems with the management company.
Marie R. Ferguson, author of "Breaking all the Rules: How to Rent Your Vacation Home". An expert landlord of vacation rentals with over twenty years of experience in the financial and real estate industry.
For more information http://www.howtorentvacationhomes.com or http://www.dreamawayvacationrentals.com