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Updated over 4 years ago,
Start a property management company which guarantees rent?
Hey folks,
I'm a landlord with four properties, and have had bad experiences with property managers. I'm thinking of starting a property management company with "skin in the game". My idea is to sign multi-year leases with landlords on a master lease, paying them guaranteed rent each month. I would handle tenant selection and rent the property out to tenants. I'd cover any major damages to the property beyond usual wear and tear. I would also handle all the traditional aspects of property management and maintenance. The expectation on level of repairs' would be to keep it in the same condition at the time of signing lease.
I know there are a few companies exploring this, but I wanted to get feedback from other landlords. Looking for feedback/thoughts!