Practical Tips for Managing PropertiesFinding Good Tenants: Screen thoroughly.

It took quite a good time (~6months) even with a property manager but finally found the renter after rent decrease by 200$.

I have five houses in Memphis area, and the biggest problem has been finding a good property management company. 

I would try and manage it yourself if you have the time and effort. 

My first thing is to start built relationships with realtors and property managers.

I have some clients who prefer to have a PM for maintenance/contact/rent collection/general management and will place tenants and write leases for themselves in exchange for a reduced rate.  

Typically corporate/bank owned homes are managed by an asset management company.

My wife and I come from a manufacturing leadership and project management background.

@Patrick Drury what did you think of Propertyware and Rent Manager?

. - PM provides a cash based accounting report every month, for every unit under management, that clearly labels all rent, all expenses, including management fees, and the net directly ties to the amount of money deposited into my bank account.- PM is a licensed handyman, or has them on staff, and takes care of most unit turn work at a reasonable rate. - PM has no breakup/termination fee- PM does not take project management fees, except on large or complicated CapEx projects exceeding $5,000.