Almost Reluctant Landlord

[Dustin McClure]

Good morning,

I relocated for work and have listed my old house for lease/sale.

My relocation includes all real estate fees; including property management. The only issue I have is my home is near the top of the rental market.

I do have a signed agreement with a management company and have faith that we are on the same page about strategies and such.

I am thinking about opening a second checking account with a different financial institution for all things rental. Is there anything else I should do?

I’ve wanted to get into rentals for a long time but not necessarily at this price point so I am a bit nervous now that I have skin in the game!

[Nathan Gesner]

Even if you are using a property manager, I still recommend you buy the book "Every Landlord's Legal Guide" by NOLO. It will give you a solid foundational understanding of how to manage a rental, your state laws, and more. This is good to know if you ever decide to take it over but also so you can properly monitor your manager. BiggerPockets also has a book about managing rentals and I hear it's really good but I have first-hand experience with NOLO so I recommend that. Best money I ever spent!