{ "media_type": "text", "post_content": "Any out of state landlord here? I am planning to purchase an investment property out of state. Other than property management company or realtor, have you done the rental process by yourself (e.g. posting ads, opening doors for viewings, application / screenings, etc)? Would you have hired a realtor instead?", "post_id": "60d6a3d8918177002a8a7e42", "reply_count": 7, "vote_count": 4, "bowl_id": "5a5242b78e26290018502ca0", "bowl_name": "The Real Estate Bowl" }

Any out of state landlord here? I am planning to purchase an investment property out of state. Other than property management company or realtor, have you done the rental process by yourself (e.g. posting ads, opening doors for viewings, application / screenings, etc)? Would you have hired a realtor instead?

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My sister pays the first month to the property manager to lease it up. It’s expensive but it’s not really possible to screen and tour effectively remotely. I live right on top of my investment units and it’s still a pain to self manage 🙃

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I live in DC and own a property in SC. From day one I used a property manager. I only had one big incident with a repair in 3 years but I’m glad I didn’t have to deal directly with the tenant. For the peace of mind, just hire a property manager. You’re more likely to get on-time rent payments and you never know if you might have to evict someone. That would be a nightmare handling out of state.

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I recommend using a property management company. Saves you a lot of stress. However sometimes it is worth placing your renters yourself and then turning it over to property management. That way you avoid the steep finders fee which could be up to the first months rent.

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I've done it with and without. Honestly I feel like incentives aren’t aligned for management. They pretty much want your tenants to leave because they then get a whole months finders fee. If you can, get someone to just find the tenant. Then manage yourself. If you can’t do that then put a lockbox on it and have prospective tenants let themselves in after a thorough screening

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I own a property 1 he away from where I live. Not long distance but I didn’t have a property manager and I never have to come over to deal with repairs and stuffs. I think it’s really depends on how you screen your tenants. My tenant is super nice and has a stable job. She had problems with washers and other things before. But she would love to find a handyman herself and have me refund her. Because it’s easier for her to manage her time. But i think it’s a very rare case and in general I would recommend a property manager.

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If you’re out of state, you need to factor in paying for a management company as part of your expenses as it would be too hard at a distance.

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I'm in the same boat, under contract to buy a rental property in another state. Fortunately the current property manager is phenomenal and handles all the tenant issues, leasing, rent, etc for a very reasonable rate. Highly recommend finding someone you trust to manage locally.

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