Managing out of state property

[Jack Srimani]

Hi,
I am close to buying a out of state multi unit property. Any property manager charges ten percent of rent. I am wondering if anybody is managing his or her out of state property without keeping a property manager (long distance management). If so how does one do that? Or it is not a good idea to do that. I would like some feedback on this.
Thanks.

[Aly W.]

I own 2 properties in FL (I'm in NJ). I don't use a management company, but I use a professional contractor who does repairs and will show the properties when needed. I pay him by the hour. I have a local contractor in the city in NJ where my other rentals are, and he deals with any hands-on issues with the properties.

I do the tenant screening, advertising, administrative stuff.

You might consider making arrangements with a local contractor or handyman instead of a property management company. I pay my contractors by the hour for whatever they need to do. It just depends on how hands on or off you want to be.