You are thinking about the possibility to turn your home into a rental property.  We have mentioned previously that current local market conditions are improving and that values in our area are also increasing.

I would recommend that you should be current on your mortgage payments, property taxes, home owners insurance and home owners association dues, if applicable.  Then the following questions can be asked when you talk with potential property mangers:

  • Ask the company to outline how they market their rental properties.
  • Have them describe the screening process for potential tenants.
  • Ask them to explain their management terms and fees, discuss any contracts or forms used.
  • What kind of accounting system do they use for their rental escrow account?
  • Will they share with you exactly what makes their company outstanding?
  • Does the management company view their properties on a regular schedule?
  • Is there an initial walk through with tenants prior to move-in day or final inspection prior to the tenant moving out?
  • Do they employ a full-time maintenance coordinator and how does the maintenance process work?
  • How many properties do they manage and how big is their staff to manage these properties?
  • Can they provide customer testimonials?
  • Are they a member of any trade organizations?

A little up front investigation and homework can help you turn your home into a rental property. Then your family can rest assured and continue with your life’s plan. For more information, please feel free to call our office and speak to one of our agents today at 863-647-1679.