Need help from property managers

[Shaun R.]

I've been managing my own rental property for a little over a year, and I'm being asked to help others manage theirs. I'm hoping someone that's started from scratch can help me with the first steps of getting going. I've reserved a business name with my state and I'm going to file for the LLC next. I assume I'll need bank accounts for the operating and escrow accounts. What else do I need to do to start taking on these first few clients. I'm actually meeting with one of them tomorrow that has 6 SFH's to manage... I just need help getting it going. Any advice?

[Christine Kankowski]

I would make sure you get a propr mgmt certification to make sure you know EVERYTHING about service dogs, marijuana laws, eviction info, how to handle all tenant issues, like them vacating before their lease is over, tenants not paying rent or causing a neighborhood nuisance, etc.  What is they leave half their stuff, can you dispose of it?

Have a very specific list of things you do and do not do for the client, or they will assume you do it all.  Do you oversee large insurance claims, dealing with temporary housing for tenants when the house is unlivable? Do you sell homes, if owner wants to sell, at what point to do call them for approval, what about emergencies,  Make sur eyou have a trust account, so there is no commingling of funds. What pets do you allow not allow.  Who handles yard care?

Are you in charge of background checks- do you credit and criminal, other states> do you verify, etc.

What happens in a hurricane when they can't go in the house for 2 weeks?

Just make sure you know what you are signing up for and have it IN WRITING so everyone is on the same page.