Using Property Managers

Property managers are helpful in managing your rentals but they also help a great deal in local research. Before I buy in a new area I contact two or more property managers and ask what they know about growth in their region. I ask if houses or apartments rent best. I ask what features in a rental are most desirable. Like how many bedrooms, bathrooms and garage/parking spaces. Property managers help me narrow down the field to the rentals that are the easiest to rent and keep rented. They also give me an idea of the amount of rent to expect from any given rental I'm looking at which helps me know how much I can pay for that property based on income. The best part of this research is that it's free. And at the same time you are asking all these questions you are interviewing them for the job of managing your property. So be sure and ask questions like how long have you been in business and what do you charge. Also ask about who does the repair/maintenance on the properties they manage and the fees. These are just a few of the questions to ask but will get you started.