After the listing is complete, you have the option of having your property professionally managed. This is a great option for owners, especially those moving out of the area. The management agreement can be tailored to the desires of the owner. The typical management agreement includes:
Managing during vacancy
Managing a furnished rental
Appearing in court
Insurance claim coordination
Attending HOA/Condo meetings
Obtaining multiple bids and coordinating repairs
Monthly or quarterly inspections of the property
Acting as an Attorney-in-Fact
Lease renewal or extension
Making scheduled payments on trust, mortgage, Condo/HOA as shown on PMIF from Landlord’s account
Scheduling utility shut off and or transfer
Responding to Tenant inquiries
Final walk through, itemization of damages and repair coordination
Preparing Premises for sale or for rent or for the re-occupancy of Landlord
There is always risk involved when renting your home. There is no guarantee that things will be cared for in the same manner as when you lived there. And things often break that are out of the control of a Tenant. A new HVAC system or roof leak can be costly. It is important to speak with a Realtor to help determine if renting or selling is the option for your particular situation. And remember, there is always an option of listing for rent and for sale simultaneously.
