Property Management - where to start?

[john3232]

Originally Posted by pgc323

Property manager checked and found that the owners this family had been renting from...

VERY important to

[pgc323]

Yes, I agree. I felt good about leasing to them after this.

[blisterpeanuts]

I have been told by a couple of PMs and RE agents that I can't veto a tenant because it's "against the law", that is, it exposes the PM to a discrimination lawsuit or some such.

Is this true? That I can't look at an application and say, no, I don't want this person living in my house, because somehow I'm violating their civil rights?

It seems to me the PM is going to want all the power and not have to waste their time asking permission to lease my house to a particular tenant, and that's the real reason they don't want me involved. The law is a red herring.

They did say, I can specify in advance the TYPE of tenants I don't want--smokers, pet owners, large families or whatever.

Also, does it sound right that a PM can make $75/month even if the house is vacant? I would have thought they should make $0 if no one's paying the rent. Why should I pay this guy if he's not doing his job?

[john3232]

Originally Posted by blisterpeanuts

I have been told by a couple of PMs and RE agents that I can't veto a tenant because it's "against the law", that is, it exposes the PM to a discrimination lawsuit or some such.

Is this true? That I can't look at an application and say, no, I don't want this person living in my house, because somehow I'm violating their civil rights?

It seems to me the PM is going to want all the power and not have to waste their time asking permission to lease my house to a particular tenant, and that's the real reason they don't want me involved. The law is a red herring.

They did say, I can specify in advance the TYPE of tenants I don't want--smokers, pet owners, large families or whatever.

Also, does it sound right that a PM can make $75/month even if the house is vacant? I would have thought they should make $0 if no one's paying the rent. Why should I pay this guy if he's not doing his job?

It is not against the law to say you don`t want those with poor credit, not enough income or a poor rental history that`s about it. It`s up to the PM to make sure the tenants are qualified but sadly some just want to rent the home as fast as possible and move on. When this happens you run the risk of problem tenants and if the PM company didn`t property screen the renters don`t expect them to provide much help once trouble starts.

Abut the $75:
Yes, there are PM companies that will change you for each month the property is vacant. Make no doubt PM companies are trying to make as much as they can off you which is fair enough. However, experience has taught me they often don`t keep their end of the bargain. They will do what is convenient for them and this can end up cost you money.