Top 10 Concerns When Renting Your Property

Managing rental property is easy, even I can do it! Or can you? Legally you as an owner can manage your own rental property and save the management fees, but is this the best decision? Here are the top 10 concerns or situations to think about.

1. Who will prepare the lease? An attorney may charge you $100 or more to prepare it. You, of course, can use the services of a Property Management Company to secure a tenant for you. They will do this for a fee, which will include the lease.

2. If you do not use a Property Management Company to get the tenant then how will you “check them out?”

3. In the event the tenants don’t pay the rent on time or at all, can you “chase” them for it? Do you know the procedures and the Florida Laws for eviction?

4. If the rent is late you will be the one to confront the tenants for the late fees.

5. If you are managing the property, the tenant has access to you 24/7. Do you want to be contacted at all hours for even the most minor repairs?

6. What happens when a repair is really needed? Do you have a list of craftsman that you have investigated as to their competency, response time and fairness of fees? Read more