Out of State Rental Repairs

[Yolanda Brown]

Hey BP Fam. I recently acquired my first single family home 3/2 through a Quit Claim Deed in Mississippi and I'm so excited. I'm at a point now where I know the property is going to need some repairs and possibly some renovations, but I also know I am going to hire a Property Manager to look after the property for me, but I won't be in the state during the rehab prior to it being rented. Should I hire the Property Manager and have them look after the repairs?

[Joe Funari]

@Yolanda Brown regarding the repairs I would recommend you have the PM quote the “make ready” for a rental. My experience with PM’s doing the make ready can do it for less here in the Dallas/Ft. Worth area. Also they don’t go crazy on putting in upgrades like granite if the neighborhood doesn’t warrant it. Remember you won’t ever live in the place. So cost effective repairs make the most sense. Also, if any issues with the repairs after a tenant moves in you can get the PM to address them at no cost to you. Just make sure you get a detailed quote for the make ready.