Finding and Vetting a Property Manager - International Ownership

[Greg P.]

In the next six months I will be moving out of the country.

I am on the fence with my current rental property. I would like to keep it as there are two doors on the property and it would cash flow nicely with my insanely low mortgage/interest.

However, I’m leery of managing while living internationally. It would clearly require good property management. Has anyone ever done this? I have a decade of self management - all successful with some slight annoyances.
Anyone have any strong reactions to this? I would always tell new landlords that out of state management is crazy. But I know the area and units and have been able to attract good tenants in the past. Of course that’s because I’m focused on it as an owner. I’m sure a property manager would not have the same focus.

Thoughts? Thanks

[Nathan Gesner]

"Nobody will care more about your property than you."

That's true, and false.

A property manager should align their interests with you. The more money you make, the more they make. They should know the market better and keep your rents up. They are better at screening and keep out the trouble-makers that don't pay or trash the property. They have trusted contractors. They know the law inside-out and protect you from bad renters or unique situations like the COVID eviction moratorium. 

Managing from a distance can be done, but you still need boots on the ground to handle showings, inspections, eyes on the property regularly, etc.