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Updated over 4 years ago on . Most recent reply

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Jack B.
  • Rental Property Investor
  • Seattle, WA
1,047
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Managing rentals out of state without a PM?

Jack B.
  • Rental Property Investor
  • Seattle, WA
Posted

Right now I have to drive out occasionally for inspection if a  neighbor complains, or there is a maintenance issue, etc. It's super rare. With an occupied unit I can usually just have the tenant handle letting a contractor in to do work. Of course when there is turnover I either need a PM or I need to travel there and post up at the house until I find a tenant. So the cost to me would be a flight and rental car, as I would just camp out at the house. 

I'm planning on eventually relocating including my rentals in a few years, but as some of my rentals are seasoning equity wise and coming up for capex/repairs, I want to sell and repurchase some out of state before I relocate. But I worry what that would look like as a DIY landlord. I don't like the idea of using a PM due to the cost for very little actual work.

So what is the feasibility of me managing remotely for 1-2 years? What are the issues other than those mentioned?

Renters Warehouse does flat fee $125 a month apparently: 

https://renterswarehouse.com/pm/seattle-property-management?utm_source=google&utm_medium=cpc&utm_term=%2Brental%20%2Bproperty%20management&utm_campaign=Property%20Management%20-%20Seattle&utm_content=Property%20Management&mkwid=s&matchtype=b&device=c&creative=450901469409&network=g&devicemodel=&placement=&adposition=&physicallocation=9033252&campaignid=9897771837&adgroupid=100114394363&adtype=&channel=&st-t=google&vt-k=%2Brental%20%2Bproperty%20management&vt-mt=b&vt-n=g&vt-d=c&vt-c=450901469409&sfpc=9897771837&sfpa=450901469409&gclid=CjwKCAjwps75BRAcEiwAEiACMb04L-9vDQIoenoGs0qVFTJNdIQVXL9KwSQxhGqMlqfHBidKDKGsfBoC3AEQAvD_BwE

There there is the option of hiring a PM just to fill the unit ($$$$) then I take over the management remote, which would largely just be getting contractors to go do work for repairs as needed and the tenant can let them in. Once a year I take a vacation there to check on things (hence why I want to buy in Vegas and Tampa...This is basically what they talk about in THIS article on BP: 

https://www.biggerpockets.com/member-blogs/11360/88478-how-to-easily-manage-rental-properties-from-out-of-state

Most Popular Reply

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Steve Morris
  • Real Estate Broker
  • Portland, OR
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Steve Morris
  • Real Estate Broker
  • Portland, OR
Replied

Well, I understand saving money, however, I'd ask a few questions on a plan to handle:

1) Tenant has clogged toilet overflowing at 1000PM

2) It's vacant and someone wants a tour tomorrow

3) You have a crap tenant, how do you give notice/FED

4) They institute rent control and you have new rules to follow

5) How do you do service of notice

6) They have too many people in the unit

I think I'd hire one just to learn the new market, but you can do mgmt from a distance.

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