Updated over 8 years ago on . Most recent reply
Absentee Landlord: How to Handle Repairs and Maintenance
Good evening. I've had my primary residence on the market in Albuquerque for almost a year with no luck. The housing market here has improved some since 2008 but not as robustly as in other states. I'm thinking about renting out my home since my husband and I will be retiring in April; we hope to move into our RV and travel. We would prefer not to hire a property manager. I've used them before with other properties and had terrible experience and I know I can market the property myself just as easily. The issue is repairs and maintenance. We may be occasionally unreachable by phone during our travels. I was thinking we could identify a handyman who will be a local contact person and who can respond to tenant calls and assess the need for repairs. Alternatively, I was thinking we could provide the tenants with a list of approved contractors (plumber, electrician, etc.) and let them call as needed. I would worry about tenants abusing this last option though. How have other landlords handled this situation?
Most Popular Reply
Devil's advocate: If you have had your house on the market for a year in a seller's market, you have it priced too high. My advice would be to bite the bullet and drop the price until it sells. If you are unreachable while traveling and no PM, how are you going to handle showings, leading, rent collection, 3 day notices, evictions, etc.? What if a crime occurs at the peoperty - its not like you can call a plumber to meet with the police?
Why not cut the cord and enjoy your retirement without the worry of something going wrong with your property?