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Updated over 4 years ago, 04/17/2020
How to verify your Property Manager
Hi. My tenant recently notified me of a leak in the roof after some recent rain. My property manager went to check and says that the roof will need to be replaced. The property is 1025 sq ft. single story, 3 bed 1 bath in Missouri and the work will cost around $5000. From doing a quick check $5000 seems pretty fair.
I'm out of state and have not seen the property for a few years. I've had my current PM for at least 5 years. The only problem I have with them is their accounting software and communication can be better.
Whenever the PM say that a repair needs to be made, there's always a voice in my head asking "what if they're lying?" I haven't replaced the roof since I purchased. So it really may be due. But how do you know?
I'm sending a separate roofer to come and inspect. Is this bad business etiquette? I just don't want my PM to take advantage of me being out of state.
I need some tips on managing my manager. How do you other out of state investors verify the repairs that your PMs say need done.
Thanks