Out of state property management
Posted by Christopher Berkompas in Property Management ArticlesThere are a lot of benefits to having someone nearby oversee your investment property. Periodic inspections and responding to complaints are necessary if you want to keep your property in good condition, but are difficult to perform if you are out of state. Hiring a property management company in close proximity to your property can increase tenant satisfaction, and lead to problems being discovered and resolved more quickly. Local property managers also tend to be well connected with quality contractors and service providers in their local market, which can help save you time and money.
If the tenants are actually aware of the fact that the owner lives out of state the likelihood of lease violations goes up as tenants know there is a lack of accountability. Your real estate investments are to significant to not have someone keeping a close eye on.
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