Rental Property Investor · Fairbanks, AK · Member since 2019 · 28 posts · 11 votes
I had always planned on getting a real estate manager for my properties. Eventually, I will be moving out of New Mexico, and I will need to have a real estate manager for my property when I leave. I have a potential customer lined up, but I don’t have a manager lined up. If I did my due diligence with this customer (background check, credit check, proper lease agreement, etc) would it be difficult, wrong, or illegal to get a property manager for the property before I leave next year?
Just because you can does not mean you should. If you are already planning on getting a PM I would do it from the start for several reasons. 1. You are out of the contact loop. The tenant will never have your number. If you place them then hire a PM they will call you every time the PM tells them no or tries to collect rent and they have an excuse. 2. It sounds like you would do it yourself long term if you were staying. Why not be present while you are testing out a PM to make sure they work out? A lot easier to make a change if you are right there.
@Chase Kimbrell it would definitely not be difficult or illegal to line up a property manager once you have a tenant.
Just make sure to do your research before you jump in with them and they will have a process to get you integrated in to their system.
The only challenge will be migrating your tenant from your system to the PM's system, there is always a switching cost (delayed rents, etc during the first few months)