Property Management Companies (leasing, HOA, credit report)

[CCUGal]

Are there any recommendations?

[kamban]

Have had 2 companies, and poor experiences with both.

One did not reimburse us on time and sometimes did not even try and collect from the renter. Another one sent letters to the renter and when he paid 25 days late with the late-fee, the management company kept those fees ( in addition to their 10 %) and paid us the rent a month late. We did not renew with either of them.

Now we have good renters and get lower than the going rate monthly rental but then they maintain the property well, pay on time and follow the HOA regulations. And that is the best we can hope for.

[CCUGal]

Originally Posted by kamban

Have had 2 companies, and poor experiences with both.

One did nto reimburse us on time and sometimes did not even try and collect from the renter. Another one sent letters to the renter and when he paid 25 days late with the late-fee, the management company kept those fees ( in addition to their 10 %) and paid us the rent a month late. We did not renew with either of them.

Now we have good renters and get lower than the going rate monthly rental but then they maintain the property well, pay on time and follow the HOA regulations. And that is the best we can hope for.

I had a bad experience with two as well. The worst one was a company that kept the fact the tenant had a pet. I wasn't too happy........

[kamban]

Originally Posted by CCUGal

I had a bad experience with two as well. The worst one was a company that kept the fact the tenant had a pet. I wasn't too happy........

Suggest putting a sign on the window of the place you intend to rent. People drive by and call your number after seeing it. Then get them to fill the application form and ask for their latest credit report. This way you can screen out the problem renters.

This is what I have done and so far it has worked out well

[stephej2]

CCUGal, I sent you a PM on this topic.

[Crackofdawn]

I use Creative Housing for two rental houses and have been using them for a few years now, and I'm pretty happy. Their fee is 8% which is already lower than most other companies. If they collect a late rent fee they keep half and give half to the homeowner. They've been able to get my houses rented almost immediately at a good price with no issues, and they have taken care of everything perfectly for me. They also pay for repairs up front and allow you to pay out of the rent collected. You don't pay anything until they collect rent.

[USNRET04]

I use Marketplace Homes. They charge $3/day (so $100 month). They do charge a leasing fee of first month rent. If the tenant breaks the lease for some reason the company will re-fill at no cost, plus they cover all legal fees.

When I first used them my house was filled within days, excellent tenant that is still with us.

I heard C Dan Joyner is good, they also have a good corporate department with agreements with several of the larger multi-national manufacturing companies in the Upstate.

But in this current market, if you are willing to put up with some of the hassle/risk and do the legwork, you should be able to rent your home fairly quickly and save $$$.

[CCUGal]

If I lease the property on my own, how can I get an unbiased price of what my unit should go for? Do I just base it off what the typical house is renting for on Craigslist?

[kamban]

Asking people of what rents are in that area, Craigslist and even cold calling nearby vacancies to see what they are renting for will give you an idea of the rental fee you should charge