rental management companies (apartment, tenants, house, landlord)

[Taken]

Do they work?

I have a house for rent that I would consider for section 8. I ran an ad in the local paper and I did not get anyone seriously interested in looking.

It would seem that my house is priced in the range for my neighborhood and well within the limits for section 8.

I am thinking of going with a rental management company because I am not sure what is my next step.

I can lower the rent by $50 - $100 per month.

Should I run new ad for lower amount or stop wasting money and just sign contract with rental management company?

[sheriwx]

I would run a new ad for a lower amount before I went with the management company. But that's just me.

[Ultrarunner]

Good Management minimizes problems... the operative word is "Good"

It's very important to know the rules and regulations of renting in your area.

If you are unsure or need access to info, you might want to check with the local apartment association.

Section 8 is it's own specialty market in the rental housing business... there are more rules that must be followed and additional requirements.

Those that are successful with subsidized housing generally have lots of experience... those that are novices often run into problems... otherwise known as the school of hard knocks...

First Step might be to stop by the Housing Authority and asked for a Owner Information Packet. It should outline the way your local program is implemented and most provide a Free Landlord Referral Service to Tenants where you can list your unit.

Good Luck

[austin-steve]

I am thinking of going with a rental management company because I am not sure what is my next step.

Regardless of what it is in life, when you don't know what you're doing it's generally better to hire someone who does.

That said, it's not hard to hire a really crappy management company, so be careful. I'd recommend interviewing at least 3 NARPM members. Check NARPM : National Association of Residential Property Managers for your area, and call some.

You want a company that has highly standardized procedures, and that doesn't make exceptions or do things however you might want. The more "my way or the highway" they seem, the better they probably are.

Good luck.

Steve