All Forum Posts by: Phil Earley

Anyone can lease a home if its priced right and shows nicely so make sure whomever you use has experience with tenants and screening.  Inexperienced people tend to close every deal where seasoned people know not too.  

Jumping on a deal for personal gain is great but not at the expense of someone else.  Not working out the details of the termination prior to the purchase is where this went wrong.   Communication is key to every relationship.    

You can check out Narpm.org to find companies to go interview with.  The number one question I would ask the company is what their employee turnover is.   The old school way to run a management company seems to burn through their staff which in turn translates into the poor customer service that seems to be prevalent in the industry.   Also, check the online reviews.  

Price and condition are what leases a home.  Assuming the condition is great, adjust the price.  

The lower priced gallon of milk will always sell before the nicely marketed expensive one. 

Basing decisions solely on money is typically always the wrong decision.

We suggest that dehumidifiers are hard line to the exterior of home so that there is no need to have to empty the tray all the time.  In Atlanta, tenants go away for a week on vacation and come back to mold because the automatic shut off tripped.  

Everyone here will have great advice but the best complete road map I have found to help people with this question is a publication put out by Fannie Mae.  

Google "becoming a landlord by fannie mae"   Its a great resource.  Easy to read and understand without any biased one way or the other to help you decide what is best for you. 

Congratulations on the acceptance.  

The management agreement should already have a limited power of attorney section built into it or some verbiage about the management company being the agent of the owner.    

Your number one concern should be screening.  Anyone can find tenants.  If you or the person you hire doesn't screen properly, you'll have the property leased in a day and then the fun begins.   

As passive as you are.