I have a 3/2 SFH and will soon be looking for my first tenant. I am remote and will have family look after the house (not a property management company).
In terms of paying someone to find a tenant, it seems I have two options:
1) A real estate agent (the one who helped me buy the place)
2) A tenant locator service (apartmentsnow)
What's the best way to go about this? Up here in NYC, I just put it on Craigslist and within hours have dozens of people emailing me (which is great!). Not the case down in SA.
Thanks for your help!
@John T. ,
Why are you not using a Property Manager? Property management is a pain in the rear. And having your family do it is a good way to hurt familial relations. Unless of course they are part of the deal, i.e. they are the boots on the ground/sweat equity and you are the finance part of the team, then it makes sense. My point is property management is a job and people should get paid for doing a job. I have a Property Manager that also just happens to be my RE Agent. He had a tenant in the house the day after I closed. His fee is reasonable and he has a very thorough screening process for finding good tenants. I have managed my own property in the past and that is one of the reasons I am an out of state investor, I don't even want to be tempted to get involved with the property management part of the job.
Just my .02. I mean no offence, and I wish you well with your investments.
Whats your reason for not hiring a PM company?
Hi John, I posted my place in a few San Antonio FB groups. The craigslist one and another one called "San Antonio Housing, Rooms, Apartments, Sublets. I had a lot of inquiries and found 2 great tenants this way. It was nice to be able to see their FB profile as well. You'll need to weed out a lot of people though and make sure you tell them you're doing a background check.
Thanks @Kristina Modares . Just curious, which service did you use for background checks?
@Keith Kaufman and @Antoine Martel , as Keith alluded to, I'm not using a property manager because this is a family operation with boots on the ground and financing. We are learning this together, and it's worked out really great so far with other property (we inherited tenants so this is our first time having to get our own).
@John T. I found my renters through Zillow. When you lost there it goes out to lots of other websites like hotpads, redfin and trulia. I use the bigger pockets link to transition smartmove for application screening. Good luck to you!
@John T. correction - Transunion SmartMove