Posted by Kevin on June 03, 2004 at 12:15:57:
Brian,
Thanks, great ideas.
Drive by’s should be easy to arrange.
Kevin
Property Manager for tennant buyer? - Posted by Kevin
Posted by Kevin on June 03, 2004 at 11:46:24:
I am working on aquiring a home and putting a tennant in the house on a lease option. This home is a 5 hour drive from where I live. However, I am adding in the contract that the tennant buyer is responsible for all repairs.
Does anyone see a problem with not hiring a property manager for this? Under normal cirmcumstances, I would hire a property manger as it is too far from where I live to deal with the various problems that go along with being a landlord. However, being that this will theoretically become the tennant’s own house in a year or two, I would think they would be happy to take care of the house and not have to call me for every little problem
This is my first lease option- any help would be appreciated!
Kevin
Re: Property Manager for tennant buyer? - Posted by Lee Gartner
Posted by Lee Gartner on September 03, 2005 at 17:58:57:
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Re: Property Manager for tennant buyer? - Posted by B.L.Renfrow
Posted by B.L.Renfrow on June 03, 2004 at 12:12:12:
Theoretically of course you are correct; the T/Ber should be happy to take care of the property as if it were their own…which will hopefully be the case.
However, human nature being what it is, I would want to at least have somebody, if not myself, drive by the property every month or so to verify, verify, verify, as one former president was heard to say.
If it’s too inconvenient for you to do this, perhaps a fellow investor in the area where the property is located would be willing to help you out for a small fee. Or, maybe a local RE agent would be willing to do monthly drive-bys for a fee, not necessarily full-scale property management, which you really don’t need.
Brian (NY)
Re: Property Manager for tennant buyer? - Posted by Lee Gartner
Posted by Lee Gartner on September 04, 2005 at 11:22:43:
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