Rental Property Investor · West End, NC · Member since 2016 · 98 posts · 32 votes
I know this is an old topic, but I would like to revisit it as I'm now listing two rental homes that I own and manage myself. So this question is for landlords who also manage their own property(ies). Do you prefer to represent as the Owner/landlord, or as a property manager representing the owner? I've heard of many who like to represent as the prop manager to have possibly a less emotional relationship with the tenant. I used to represent as the owner/landlord and at times I really wished I could just be the prop manager when communicating with tenants. Fast forward to now I am listing for rent two properties that I purchased recently. I have been presenting myself as the manager, and I have an LLC set up with that company's name (not sure if that is any good, but I'm learning a ton and trying things out as I go...). Another question on my mind is when I get to drafting a lease, which I'm doing today, can I sign as the property manager/agent? I've always signed as owner in the past. Any other legalities I might not be thinking of on this topic?
I usually tell folks (when asked) I'm the owner but I did get a chuckle once when I was cutting the grass at a property for rent and someone pulled into the driveway after seeing the For Rent sign. He got out of the car and started evaluating the house from the outside and I just kept on cutting the grass. He asked me if I knew how much it was renting for and I "guessed" at what I thought I heard the rent was. His comment was that he was pretty good at negotiating things and he felt he could "talk" the owner down on the rent a couple of hundred dollars. I said I didn't know about that; it was a pretty big house (five bedrooms, two bathrooms) but good luck if he could do it.
Property management companies serve a purpose. They act as a buffer between LL and T when things get emotional. Also, good property managers can enhance a property and its servicing with a multitude of resources. "Pretending" to be the property manager doesn't work after a while because your emotion and / or mail notices come through and the tenant will invariably find out.