About to rent my first home

[Ryan Guthrie]

Hi all,

I am about to rent my first home, and have a few questions.

1. I move out in March, so the home will be available in April. How early should I start to market my rental property?

2. I will be living about 4 hours away from the rental property, is it worth it to hire a property manager? Is there a "market standard" cost for property managers?

Any advice is appreciated. Thank you!

[Linda S.]

Hi Ryan,

If you are moving in March, if you think you can have it cleaned and ready to go by March 10th, I'd say that's when it's available.    No use in letting it sit unattended.    I'd say advertise it in mid-January or February, normally people have to give landlords a 30-day notice if they're month-to-month.    Take pictures and post it, no harm in saying it will be available in March!

I think the average in VA is around 10%, but I've heard anywhere from 8-14% for a management company. If you have a plumber, electrician, HVAC technician already, I personally would try and manage it myself. If it gets too much, then you can hire a PM. Hope this helps!