3 ms·
1) Bad property management company; response to situations; payment to me. 2) Demanding tenant; breaking things, bullying contractors, incurring costs. Bigges
by Overtonwindow 9y ago
1) Bad property management company; response to situations; payment to me.
2) Demanding tenant; breaking things, bullying contractors, incurring costs.
Biggest problem: Property management company. I don't trust them to manage my house, and see that the tenant doesn't destroy it. A lot of my problems are things I never worried about, or thought needed to be fixed immediately, but my property management company has screwed me multiple times, but I can't afford to break the contract. My tenant is demanding, and exposing glaring holes in the lease.
Find a reputable property management company and get references. Talk to the home owners, real home owners, not property investors. Require the company to send your payment within the first month, don't let them keep that and earn interest off of it, choosing to remit next month, etc. Include strong clauses in the lease about property and appliance damage, detailed instructions in the lease for tenant maintenance (i.e. air filters), expand the section on pest control to explicitly state what you will, and won't do. Buy warranties on your central air, and if you can find a good place for it, on your appliances. Trust me on this one. Meet, qualify, and set up your own agreements with handymen, contractors, etc. Don't let the property management company do this unless you are absolutely clear on the costs, etc.
My saving graces for this house if my contractor, who is also the handyman, but has a rolodex of reputable people for all situations. Find someone like this, preferably an independent contractor in your area, and get to know them. Worth their weight in gold.