I received a job transfer out of state and I'm looking to rent my current home as apposed to selling it. Who has experience working with Milwaukee/Waukesha property managers and can recommend a few? The home is in New Berlin FYI.
Thanks so much for the insight! PM me company info
No need for a PM on a single. Singles are the most brainless of all rentals. They cut the grass, shovel the snow... Any plumbing or furnace repairs are few and far between, and can easily be handled from afar....and in New Berlin? Quality tenants abound.
Get a good tenant and fuggetaboutiitt...
@Ryan Galasso have you done the analysis to see if your home would even make a good rental property per the numbers?
Now Dawn, 3% prolly doesn't exist in New Berlin ;-), but if his transfer isn't long term, and he really likes his house and wants to keep it, 1% might not be such a bad deal.
It depends on his reason for wanting to rent it as opposed to selling it.
To piggyback on the OP"s original question though, can anyone recommend a good property management company in Milwaukee? I've contacted 3 and none of them have even bothered to call back. They must be making a killing and not need any more business.
that has been my experience too. Katz, Bieck, and several lesser known pm's never contacted me
Must be a good time to be a pm.
I sent Darren and Ryan a PM with one property manager to check out. I've never used a property manager myself, but sometimes having an extra name to call might be helpful.
We self manage our properties from all over the country and have done very well. Have you thought about self-managing? On my website, I have step by step guides to managing it yourself. Let me know if I can help. We fell into the niche by accident but have done very well.
Thanks for the info everyone! Elizabeth Colegrove I have thought about self managing and would ultimately prefer to do that. I'm just worried about me being several states away and how much time it will take for me to do so. Everything has been updated in the last 5 years. Would probably sell it way before there were any major repairs needed.
@Ryan Galasso We own 3 rentals in SC and VA and will live in CA. We have done just fine renting them a state away. On my website I provide lots of great information, real life stories and give an "honest" illustration of my experience. I honestly didn't start off with the plan on self-managing. I fell into it after trying to find manager for our first rental. After I read the contract I realized I was paying them basically to place a tenant and than a retainer. What killed me was often times their placement time was a month. I have never had a vacancy so obviously you can keep it filled a lot easier.
Elizabeth C. I'm intrigued by the idea of long-distance landlording! I never even thought of this as a possibility and once our current tenants move out I will try everything to manage the place ourselves (managing a tenant can't be more headache than managing our current PM).
OP, sorry for hijacking your post.
Honestly after reading our first attempt at finding a pms contract. That is what we thought. After many tenants we have certainly learned a lot. I even created a website found in my signature that talks about how to manage a house long distance.
Do you have a website?
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!