Renting out home on mainland

I've rented out a homes on the mainland. I've done it several ways. Last time my renters just mailed my check to me. One time I just left deposit slips and they paid way, but, you'll need to keep a bank account there. Managers work well especially if home is paid off. If you do it yourself, make sure you have the phone numbers of workers if things go wrong, electricians, plumbers, appliance repair people and roofer if roof is not new. Good luck.

Finding a good property manager and having a comprehensive lease is key. If it comes to that, research well and carefully and be sure to get local references. You need a PMC which will not only take care of the financial end of things but will also contract to physically inspect the premises periodically. A tenant background check is essential before a lease is approved and signed but is still no guarantee that your home will be taken care of. Familiarize yourself with your state landlord tenant laws and it'll be money well spent to have a good real estate attorney look over your lease to be sure it's state-specific and compliant. Good luck!

We have a rental in Texas and use a property manager. They handle everything including maintenance, leases, background checks, and periodic checks of the property. It is definitely worth the money for the peace of mind! They even give us monthly, quarterly, and yearly income and loss statements. Good luck!

Our situation is pretty much the same as tmw7771. We own a nice home in a mid-west college town that is looked after by a property manager from a local realtor. We have had great long term tenants, mostly professors from the college, and never worry about the house. Best of all...someone else is paying off the mortgage! I'm not sure I want to live there because of winters, but its nice to have options.

There are companies now-a-day who can help you out without spending the money on a property manager. Checkout weather you get a company working this way.

You're going to spend money one way or the other. I don't know of any company who will manage your rental property for free.

We use a Realtor/property manager that charges 10% of the rent. Money well spent! Easy money for him!!
They qualify tenants, collect and disburse deposits, collect rents, arrange maintenance, supply income/expenditure reports.... We have come to know him and his wife so well we pretty much let them make the decisions.

Best to have a responsible and licensed Real Estate or property management company that provides this service.
Don't go with just any company you may find off the internet.
Remember, you get what you pay for and this is your most valuable asset. You'll want it properly looked after.
If you have your house for sale with a Realtor, why not have them manage the property?
Be sure you have an excellent lease as well as everything in writing with the management company you choose.

We rent a house in Florida. We have found that a good lease is very important, as well as background checks. I would recommend a property management company. We handle it ourselves, however, I travel back and forth to Florida for work on a regular basis , so I can handle situations, and check on things regularly.

Good luck

I rent my AZ house and turn a decent profit. I was super lucky to have a set of trustworthy friends to rent to. Had a lawyer draw up a contract and so far so good. There has been issues with the pool and appliances but I just hire someone to fix it or let my tenants deal with it and I pay for it.

If not for my friends I would have hired a property manager at a cost - it's not that cheap either. Large money up front too. Totally worth it thou I'm sure. Face facts that they won't ever treat your house like their own. I'll be going stateside in a few months and will stop in and see how things look. Luckily they love the place and will renew the lease as long as I'm here.