All Forum Posts by: Alex Smith

Katelyn,

You should check and see if there's a local REIA (Real Estate Investor Association) chapter near you. That would be a great way to find some potential off-market deals. It's also a great way to find potential vendors, GCs, agents, PMs, etc.

Good luck!

There's not a typical ratio that I know of, but you can intuitively know what a reasonable number is given the immediate vicinity and when it's been vacant in the past. Keep in mind, some people nowadays browse Zillow et. al. and hit "inquire" on a bunch of properties in a row just to see what shakes out. 

I don't know what area this house is in but 2 showing requests in 2 days seems like you're off to a good start. Rentals are a numbers game. Get enough people in there and you should be able to find a tenant. 

Welcome! Like others have said you're in the right place to learn and grow your network and business!

Ultimately you have to see if it works with your numbers. Like Peter said it sounds like you're beginning to understand the value of your time, and a good PM can get you that time back so you can focus on increasing your rental business's profit. 

Sight unseen doesn't have to be a huge red flag. You can cover your bases with a sight-unseen addendum to the lease that basically says the tenant(s) did not see house before signing lease and are taking possession as is, or something to that effect (not a lawyer). 

I understand why it is a red flag to some folks, but if you have proper documentation then it doesn't have to be a big deal. For people that are renting from out of state, it's sometimes not practical to see a house before leasing. 

Red Bank, East Ridge, Hixson, and East Brainerd are all great places to look and you should be able to find some good deals. 

You could be facing liability with anything provided by YOU (the homeowner) to the tenant - lawnmowers, riding mower, and even appliances, just to name a few.

Leave it on them to get their own mower, or a service to do it for them. No sense in you taking on that headache. If they are having issues cutting the grass later on into their tenancy then that's a separate issue. 

Honestly, I wouldn't even worry about it. You hired the PM the field all contacts, and they should let you know of items that need to be brought to your attention. 

Letting the neighbors know your information is not a bad move though. Sometimes neighbors are able to observe and see things that the PM can't. 

As others have said, good marketing exposure (Zillow, FB marketplace), a sign in the yard, a good product (meaning the interior and exterior of the house) and a good, competitive price should lead to finding a renter quickly.

We have a checklist that we send to tenants as part of the move out process. Like Matt said it depends on the area you're in and also the company. Different companies have different policies and different states have different laws