General Advice on renting my property
I am moving out of my primary residence of 5 years, and transitioning it to a rental property. I've already hired a full-service management team who will provide turn-key management. I've begun keeping receipts on upgrades, fees, etc... to be prepared for tax time. They will be filing my 1099 for me to the IRS.
In general, what tips and recommendations do you have that I should keep in mind in my first year of renting, and for a first time, hands-off landlord?
Most Popular Reply
Running your own rental for 1-3units is always the best way to learn and understand more about the industry. Once you have those personal experiences from managing your own property, you will be able to identify and vet these property management companies when they're trying to make excuses of whatever the reason is as it stops you from achieving your objective.