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It's not that they're ALL bad, but too many are for you to take for granted that the one you hire will take care of things.
If you can't find a way to do it yourself, sell.
With all due respect that's plain ridiculous. Just as in all professional areas there are good and bad operators and as long as one pays due diligence there will be few, if any, problems.
If a home owner is moving out of the area and wants to rent it out rather than sell, should a property management company be used?
The out-of-area owner would have a difficult time checking on the renter's maintenance requests and arranging repairs.
Do most home owners rent out their own property on their own (without a mngmt co) while out of the area?
I was an out state landlord for one year and I recommend against it. A tenant will never care for your place like you do. However, if you do, make sure the property is inspected annually. Do not believe anything the tenant says. I do not trust property management companies. Make sure they take pictures when they inspect the property.
In FL a lot of the owners of condos are out of state and they list the property with a realtor from a real estate company in the area. If the tenant has a problem usually they call the realtor who sets up things to get fixed. I am not sure if this is more costly then a PM company though.
It's not that they're ALL bad, but too many are for you to take for granted that the one you hire will take care of things.
If you can't find a way to do it yourself, sell.
Due diligence. If you just hire the first PMC that comes along without doing any investigating yeah you can get a bad one. There are lots of ways to find out who are the good and bad ones.
I've hired and have worked for both good and bad PMCs
Oh, I just wanted to chime in on one thing. Don't trust online "rating" websites. I looked online for my daughter for reviews of the PMC she hired, and there was weirdly NO info online. No ratings, nothing. And this company had been around for something like 20 years.
Well, all I can figure is that they hire one of those reputation scrubbing services, where they basically harass websites to take down bad reviews.
You could think that maybe the problem was that we were the only people who thought they were bad, but then why weren't there even any good reviews? The void was just too weird.
At any rate, don't trust online reviews to make your decision.
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