Property Management

[Carys Griffiths]

Hi 

I have a property in Apollo Beach, Florida and want to rent the property for a couple of years. I have made enquiries with a property management company in Tampa and they have sent me details of their charges and a copy of the agreement.

I am only a small investor with 1 property currently and I have a few issues with the rental agreement (I've not committed to this or signed anything) as it seems that the agent (PM) is not responsible for non payment by the tenant, even though they charge for screening the tenant prior to contracting with them. Is this the norm? Is it also usual to be charged 10% of the monthly rental plus an administration & management fee initially and then a balance of $300 for any maintenance or emergency repairs.

There is no indication of when the rent is passed on to the landlord, whether this is monthly, quarterly or annually I'm not sure.

Any advice on your experience with PM's would be much appreciated as well as any recommendations for good PM companies in the Tampa area. Thanks

[Phil Earley]

If you google "fannie mae's guide to becoming a landlord" it will point you in the right direction.   It is an easy read with lots of great information.