Looking For Guidance

[Ivory Hayes]

I'm an out of state owner looking to rehab my unit into a long term rental. It currently sits in the rehab stage and I'm thinking I should I be searching for a trustworthy property management company who can handle the rehabbing process for me because of my distance from the unit. I figure I'm going to need management in place after the rehab process anyway, why not have management in place to manage the rehab itself.

I'd love to hear from experience and gain wisdom on how to go about getting my place rehabbed from a distance and set this long term rental up for success.

Thanks in advance.

[Jason Zundel]

Long distance ownership is a bit of it's own beast for sure.  For many of my clients, the most cost effective option is to take the time and do the research on both sides - separately finding a general contractor (maybe even the specific subcontractors needed) and property manager to handle the needs of the property.  This way you individually negotiate the prices for each and will have more direct oversight and control of the process.  That being said, even if its costs a bit more, finding a high-quality property manager with the connections and ability to manage the rehab portion can make things much simpler for you. If you plan to invest further in the area, this connection will be a great long-term option for the future as well.  It's all going to come down to budget. Best of luck proceeding!

Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice. No attorney-client, fiduciary, or professional relationship is established through this communication.