I'm going to buy my first property within the next couple of months and I'm curious about how people manage their properties when they are not within a driveable distance of them.
I understand they have property managers but where do you find them?
And how do you ensure that the state of the property, inside and out, is in good condition?
Investor 路 United States 路 Member since 2022 路 55 posts 路 15 votes
1y
I personally try to automate as much as possible and rely on great/trusted handymen, cleaners, etc. on the ground that can take care of anything that comes up and let me know about the state of the property. That said, there's no doubt it can definitely add stress to be out of state. Best of luck!
Investor 路 United States 路 Member since 2022 路 55 posts 路 15 votes
1y
I personally try to automate as much as possible and rely on great/trusted handymen, cleaners, etc. on the ground that can take care of anything that comes up and let me know about the state of the property. That said, there's no doubt it can definitely add stress to be out of state. Best of luck!
Specialist 路 Long Beach, CA 路 Member since 2011 路 877 posts 路 398 votes
1y
Hi Amy. Its not too difficult. I own several out of state properties. And the are all managed professionally. I have gone through a few different ones over the course of 12 years. Anytime there is an issue, they call/email me. And when a tenant moves out, they send me photos and the turnover fees. Its pretty simple.
Its nice to meet you via BP! Im happy to answer further questions that you may have about property management. Feel free to contact me directly. Generally, a good property manager will make sure to do the following:
- rollout a strong marketing plan
- thorough application process
- know the fair housing laws
- have the vendor relationships to take care of any emergencies that could happen
Its nice to meet you via BP! Im happy to answer further questions that you may have about property management. Feel free to contact me directly. Generally, a good property manager will make sure to do the following:
- rollout a strong marketing plan
- thorough application process
- know the fair housing laws
- have the vendor relationships to take care of any emergencies that could happen
- dealing with late fees & evictions!
I can send general toolkit if that helps.
Hi Abdul! A pleasure to connect with you. Thank you for all the insight, I'd love to take a look at the toolkit you mentioned, any further insight is appreciated!
Find someone who manages long-term rentals in that area. They can help you find tenants, vet them, and ensure they pay on time. There are plenty of such service providers available, though they typically charge 10-20% of the gross rent.
Find someone who manages long-term rentals in that area. They can help you find tenants, vet them, and ensure they pay on time. There are plenty of such service providers available, though they typically charge 10-20% of the gross rent.
Do you have any services you would recommend? I'm still figuring out who/which businesses to trust!
New to Real Estate 路 Chicago 路 Member since 2023 路 46 posts 路 22 votes
1y
I'm an out of state investor. My opinion varies based on my experience, and keeping a property manager has been a nightmare for me. I am doing much better in the properties where I have no pm, and the process is almost automated, using baselane to collect rent, good tenants, and few serviceman.
If the tenants is not good, pms won't help either, not sure why I kept pms in the first place.
Sharing some of my personal experience. I moved from Chicago to Nashville, and decided to rent out my house in Chicago. It was an older home that had lots of issues. Managing it was a nightmare because things constantly broke, and needed to be repaired. Thankfully, I had good tenants, and they always paid on time. I eventually sold this property. A property manager would have greatly reduced my headaches in this situation. If instead you鈥檙e looking to invest in a newer townhouse or condo self managing it would be more manageable.
Rental Property Investor 路 Member since 2018 路 826 posts 路 810 votes
1y
What class tenants do you have - B, C or other? If B class or better then you can consider not using a PM. Just use your realtor to screen tenants and manage transitions. Find your own set of tradesmen and you can simply contact them directly when future repair issues arise. I've self-managed 30 units remotely for the past 10 years and I only communicate via text & emails with tenants and tradespeople. If you want greater peace of mind then you can use a PM. Just understand that you'll need to manager the PM, so you can't be completely hands free.
I once worked with an investor client who was a remote landlord. I checked on the home for him on a daily basis, found repairmen to fix the property etc. It's a good idea to connect with a realtor in the area where you would like to purchase. The realtor can help you find a property manager. A realtor can also thoroughly tour the properties you are interested in for you. A lot of investors prefer realtors to do virtual tours of properties they may be interested in.
Real Estate Agent 路 Chicago 路 Member since 2021 路 168 posts 路 62 votes
1y
Hi Amy,
That鈥檚 exciting鈥攃ongrats on getting ready to buy your first property! When managing properties from a distance, a good property manager is key. You can find them through investor networks, BiggerPockets forums, local real estate groups, or referrals from other landlords.
To ensure the property stays in good condition, set clear expectations with your manager, schedule regular inspections, and consider using smart home tech (cameras, leak detectors, etc.) for extra oversight. Tenant screening also plays a big role in keeping things smooth.
Are you buying locally or out of state? Happy to share any insights that might help!
Property Manager 路 Charlotte, NC 路 Member since 2022 路 152 posts 路 118 votes
1y
Your question is a little unclear. If you are looking on how to find a property manager for your property - definitely ask for referrals! Because you are out of state, these questions may be important for you to ask the property manager you are interviewing:
1. Do you conduct inspections while the property is occupied? If so, do you take photos and/or report back to me whenever inspection has been conducted?
2. Maintenance: How do you handle repairs? More specifically, do you upcharge on invoices? Is there a maintenance threshold (also called a not-to-exceed limit)? Do you have inhouse maintenance or a trusted vendors list?
3. What does the process of getting the property "rent ready" after move out look like?
There are a lot of other questions you will want to ask - but these 3 specifically address your fears around not having eyes on the property and what that would mean for you as an out of state client. Whoever you go with should have very clear and outlined processes for each of these questions.
Your question is a little unclear. If you are looking on how to find a property manager for your property - definitely ask for referrals! Because you are out of state, these questions may be important for you to ask the property manager you are interviewing:
1. Do you conduct inspections while the property is occupied? If so, do you take photos and/or report back to me whenever inspection has been conducted?
2. Maintenance: How do you handle repairs? More specifically, do you upcharge on invoices? Is there a maintenance threshold (also called a not-to-exceed limit)? Do you have inhouse maintenance or a trusted vendors list?
3. What does the process of getting the property "rent ready" after move out look like?
There are a lot of other questions you will want to ask - but these 3 specifically address your fears around not having eyes on the property and what that would mean for you as an out of state client. Whoever you go with should have very clear and outlined processes for each of these questions.
I'm going to buy my first property within the next couple of months and I'm curious about how people manage their properties when they are not within a driveable distance of them.
I understand they have property managers but where do you find them?
And how do you ensure that the state of the property, inside and out, is in good condition?
Hey Amy, congrats on your first property purchase! 馃帀 Managing a rental remotely is totally doable with the right systems in place. A great property manager will be your eyes and ears, handling everything from tenant screening to maintenance.
When looking for a PM, BiggerPockets is a great place to start, along with investor referrals and online reviews. The key is finding someone with transparent communication, a solid track record, and tech-driven reporting (like inspection photos, video walkthroughs, and real-time updates).
I specialize in remote property management and would be happy to share insights or answer any questions! Feel free to reach out.