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Everyone I know uses property management companies. Everyone I know who uses property management companies would describe it like regular expressions. I.e. I
by zzalpha 9y ago
Everyone I know uses property management companies.
Everyone I know who uses property management companies would describe it like regular expressions. I.e. I became a landlord and now I have a problem in that I have to deal with tenants.
I tried to solve that problem with a management company.
Now I have two problems.
Management companies are not a panacea. Many suck. The rest are expensive.
And nothing stops a tenant from vandalizing your home and skipping town.
As far as I'm concerned being a landlord is a sucker's game.
- BeetleB 9y ago>And nothing stops a tenant from vandalizing your home and skipping town. Landlord insurance covers this. And if they violate their lease, PMC lawyers can help. But so far no one I know had to deal with this. All the headaches I've heard come from people who did not use a PMC: They found tenants themselves, so their vetting was poor compared to that of a PMC. They get repair calls at all times of day - not an issue with a PMC (tenants do not know your name or number). Tenants stop paying: Doesn't happen because the PMC vetted the tenants. But if it does, the PMC deals with it.
- emodendroket 9y agoBeing a landlord is a great deal if you have lots of properties across which to amortize your risk. It's maybe OK if it's a multi-family home you live in. But one or two rental properties seems quite risky.