If you’re thinking about buying a property in the States and intend to rent it out, you may also want to consider using a property management company, especially if you aren’t going to be resident in the country yourself.
It’s really helpful to have someone onsite and able to deal with your cleaners and gardeners without expensive pan-Atlantic telephone calls, not to mention the time difference.
Letting out a property may seem an easy and straightforward process but if you want to maximize your investment, you will need to employ a great deal of time, money and expertise and this can prove very difficult if you plan to manage the property from overseas.
There are many property management companies in the US which will market your property in order to minimize vacancies and maximizing your income. They will screen and run credit checks on potential tenants, negotiate rental agreements, collect rent and deposits and deal with tenant requests and problems as well as arranging general maintenance and upkeep of your property. Professional property managers will know the rental market in the area your property is located and can therefore advise you on what potential renters are willing to pay for the property, thus maximizing your profit.
But how do you find the right management company for you? There are several questions you can ask when interviewing a property management company which can help you make the right choice.
Programme support material for A Place in the Sun: Home or Away? goes into this blog