Understand what you want from someone else managing the rental process for you and then ask yourself, what your time is worth?
1) Do you want or are you willing to market your home to get it occupied? An empty home is not producing rent, so the faster it is occupied the faster you get a return.
2) Are you local enough to the home to walk through it with the tenant? Will you be available to the tenant for the premove-in process including document signings, property walk-through and utility transfers?
3) Do you have the resources to do a background check to ensure the tenant meets your requirements? Do not ignore this step in the rental process. The wrong tenant will cost you a lot more in potential damages to the home, eviction costs and lost rent than the cost of the background.
4) Do you have a lease drawn up that protects you and your home? Having an attorney review or create a lease for you is the best solution. The lease is the backbone for your ability to manage the tenant through the lease terms to your satisfaction.
5) Do you want to manage any repairs or replacement of assets when they are needed? Calls come in at all times of the night whether it is a heater in winter going out, or the A/C in the summer. Repairs are part of the rental process. This process is a 24/7 responsibility of Management.
6) Do you want to track down your owed rent when it is late? Do you understand the eviction process?
7) Are you available to periodically walk the home to ensure it is being maintained?
8) Do you keep your financials monthly to track income and expenses?
Any good and reputable Property Management Company should be doing all of this for you. Managing this process is why they are in business. As a homeowner you should be sitting back and doing the things important to you and letting your asset produce the max. Heartland Property Management is founded on delivering what you, the homeowner, should be expecting from your management company.