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Updated 10 months ago on . Most recent reply

User Stats

10
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6
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Jason Strauss
6
Votes |
10
Posts

General Advice on renting my property

Jason Strauss
Posted

I am moving out of my primary residence of 5 years, and transitioning it to a rental property.  I've already hired a full-service management team who will provide turn-key management.  I've begun keeping receipts on upgrades, fees, etc... to be prepared for tax time.  They will be filing my 1099 for me to the IRS.

In general, what tips and recommendations do you have that I should keep in mind in my first year of renting, and for a first time, hands-off landlord?

Most Popular Reply

User Stats

482
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767
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Matthew Kwan
  • Lender
  • Seattle, WA
767
Votes |
482
Posts
Matthew Kwan
  • Lender
  • Seattle, WA
Replied

Running your own rental for 1-3units is always the best way to learn and understand more about the industry. Once you have those personal experiences from managing your own property, you will be able to identify and vet these property management companies when they're trying to make excuses of whatever the reason is as it stops you from achieving your objective. 

@Carlos Valencia @Albert Bui

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