Updated about 8 years ago on . Most recent reply
Landlording in another state
I am a landlord of 5 mobiles homes in other peoples mobile home parks around the state of Wyoming. I live in Idaho and manage all of these from 200+ miles away. I've dealt with 1 eviction that was probably the best case scenario an eviction could be. I buy the units from Facebook Marketplace typically, they have them listed for $10k, $20k, even $30k. I offer them $5k give or take a couple thousand depending on it and they often end up taking it. I have a maintenance man on payroll who will take care of any maintenance issues that arise.
- When we first get them we clean them up and make any changes that need done to the unit.
- We put an Igloo lock box with the key on them (https://www.igloohome.co/products/keybox/) This has been a lifesaver for me and it works very well.
- I post the rental online on Facebook, Zillow, etc and get people scheduled to see it. Tell them this is the code to get in there and a new code generates every time I need one.
- When someone is ready to move on it I schedule my maintenance man to go down with a lease to collect the money and signatures. He gives them the key.
- They deposit rent into a Wells Fargo account every month.
Wells Fargo and Igloo have been the game changers for my rental business. Since I am so far away though I don't have any room for leniency in my rentals. When a new tenant moves in and they start to act flakey, I will aggressively be on them to start a standard from the beginning. On the 3rd day of the month if no payment has been deposited I send my maintenance man to put the Notice to Quit on their door. Vice versa though, if a tenant has a maintenance issue, we are on it the next day. I also tell my tenants to not wait on any maintenance. How do you run your rentals from different states?