Small Town Property Management Problems

[Dylan Osmon]

I've heard plenty of times on how to screen managers, contractors, and most importantly, tenants. What do you do when there is no one to screen at all?... Property managers. My one and only property (a triplex) is something I want to get managed. With relation to my last post, I am looking to move which means I need a manager or a manageable system. 

The only problem is that Laurel MS has no property managers, at least as far as I can find. I am the local RE Investor group and still have not found one. One variable of the equation is that the Triplex is the only small multifamily in a C neighborhood. I know first hand it's management intensive which would be not ideal for your typical property manager that's any good. 

Do you have any suggestions? I am looking to move out of the area within the next couple of months. I am currently developing my long distance systems: how they pay rent, maintenance, and showings. I have a wonderful neighbor who has agreed to keep an eye on the place for me and unlock the occasional door. I will use his help to make sure rules are followed, grass is cut, and that nothing crazy happens. It scares me leaving my baby alone... first property and I've fixed so so so many things. This property will have problems which gets real expensive real fast when you're not the guy holding the screwdriver. 

What can you suggest for making this management easier? I will most likely be 2.5 hours away, so I could make a monthly trip if I had to. I'd like to keep it for how well it cash flows, but maybe selling is the better option?

Thanks for your input!

[Lynnette E.]

You may be better off not having a small town PM.  The small town I invest in has exactly ONE PM.  I was told about how she works by a realtor I work with.  She had a family that did not pay their rent for several months.  They never do.  She files for the eviction and the day of the eviction the soon to be evicted family accepted  the amount of 3 months rent as settlement to leave that day and the PM did not complete the eviction.  So, this family went from the court house to her office, signed the paperwork to leave the house they were in and completed a lease agreement for another property she managed.  This family never pays rent and occasionally takes a landlord's 3 months of rent $ to have the money to move into some poor other landlord's property.  All the while the PM takes her 10% of the never collected rent.  And the family has no record of evictions...small towns, and the landlords are the outsiders.

I was glad I was warned about this PM.