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Updated over 1 year ago,
Managing From Out of State - Tenant Turnover
I will be moving from NJ to Florida in October and plan to manage my 2 NJ properties from out of state. With rents for both properties at about $3,000 each, I cannot justify spending 10% or $600+ on property management every month, plus the 1 month's rent fee to get them rented. I do not anticipate having tenant turnover often because there is very high demand in NJ for rentals, but I want to plan ahead and set up a system before I leave.
For those that self-manage from out of state, what have you found to be the best practice for tenant turnovers? Do you hire a local realtor and give up 1 month's rent or is there a system you found that works to get it rented on your own? I have always self-managed and am familiar with having everything done through email/docusign, I just don't know how to go about showing the property when that time comes.