Top 10 Things I Learned About Renting My House

How To Evaluate The Rate Of Return On Rental Property

Getting your house ready to rent is a lot like getting it ready to sell. There are several things that I have learned about renting my house along the way that have greatly helped speed up the process. And, there were a few stumbling blocks too that could have tripped me up getting my house ready to rent. Here are ten lessons that I learned about renting out my house and hopefully it will help you as well. Ten Things I Learned About Renting My House First Impressions Matter The other day we were surprised with a tree that fell down in our yard and a call from the property manager that a guy wanted to come by and look … Read more

The Unintended Costs Of Being A Landlord

Unexpected Expenses Of Being A LandlordMy wife and I recently listed out home for rent with a property manager. I found a great property management company that I have really enjoyed working with after asking tons of questions before hiring a property manager.

Now that we have started to get the ball rolling finding renters and even showing our house to potential renters I have found a few expenses that have cropped up. Some of these costs were expected, but a few of these new expenses have kind of caught me a little off guard.

Unexpected Expenses Of Being A Landlord

  • Advertising fee with the property manager – $100
  • Getting our HVAC tuned up – $100
  • Purchasing a home warranty – $500 per yearOverdue yard maintenance – $300
  • Storage unit since we are downsizing – $150 a month
  • Moving truck rental – $300
  • Maintenance fund our property manager requested – $500
  • Carpet steam cleaning – $200


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Twenty Questions To Ask A Property Manager Before You Hire

Questions to Ask a Property Manager

Question to ask a potential property managerMore homeowners are finding themselves as accidentally landlords recently. Whether you are moving for a new job or relocating to be closer to home, many Americans are finding that they cannot sell their homes for what they owe on their mortgages. But, do you know the right questions to ask a property manager?

So, if you are a landlord, the next question becomes whether or not you hire a property manager? A property manager will help you find tenants, fix problems with your home, and collect the rent or do you do it all yourself.

My wife and I have recently decided to rent out our home. And, we have decided to hire a property manager. We are currently interviewing three different companies that were recommended by friends and coworkers. Of course, this is not a decision to be made lightly.

Questions To Ask A Property Manager

Here are several questions that you should ask a property manager before hiring them.

How many properties do they manage? – One property manager than I interviewed limited the number of properties they handle per person so they can give your property the attention it deserves.

What are the costs? – Do they take an industry norm of 10% of the rent as a fee? Is there another feed every time the home is vacant and a new tenant is needed? Is advertising costs wrapped up in the monthly fee?

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