Moving away, want to Keep and Rent w/ property manager in Philly

[Mike Cesarano]

I'm moving from Philly for a job in California. Ideally I think I could rent the place for $1800. It's in a great neighborhood, has a big kitchen and a deck on the roof. I'm paying $1250 a month for the mortgage. I'm weighing that against selling it (probably would get $275k with $178k left on the mortgage and then paying 6% to realtors and 2% transfer tax to the city).

I also feel like my neighborhood is only improving, so I expect some pretty real appreciation on this house.

I'm having trouble finding a property manager I would trust. Would I be better off asking a semi capable friend to handle it for 7% of the rents?

What would you do? Does anyone know how to find a property manager in Philly?

[Jassem A.]

Ask around and see who others are using.  Some property managers will do it for less than 10%.

Be careful using a friend at a discounted rate unless they have experience and could likely do a better job than a local property manager.

Many property managers only charge the flat percentage rate which includes finding, advertising and screening applicants and showing up to court.  Only other time there would be a cost is when something needs to be fixed and you could opt for your own people to do the repairs.