Top 5 Downfalls of Managing Your Own Rentals
by Sharmon Cochrane
In no particular order:
1. Screening & Background Checks
- rental history
- reference checks
- criminal history
- credit reports
- confirming income and stability
2. Personal Involvement
- Dealing with emotions
- Sob stories from tenants
- Renting to friends and family with no middle person
3. Laws, Regulations, Standards
- Knowing them and keeping up with them
- Up to date forms and resources
4. Repairs & Maintenance
- Knowing who to call for particular services
- Vendor relationships for fast, affordable service
- Know how to troubleshoot common issues
5. Stress & Time
- What is your time and peace of mind worth?
- Most private owners who manage their own units decide to call a property manager when a tenant becomes difficult in some way.
For more information and answers to your questions, please give our Property Managers a call at 406-426-1916.