- How can I ensure that I get the right tenant? – This is so important. Rigorous screening is necessary. Calling the reference that they hand selected to give to you is not good enough. Many property managers/landlords skip this step or fail to use the most state of the art screening/qualifying process. The average eviction costs 4k-7k. http://www.seacoast.realpropertymgt.com/faqs.html
- Do I have the correct insurance? – Traditional homeowners insurance isn’t good enough. Let your agent know you will be renting and find a policy that will best protect you and your asset. There are many great insurance agents in the greater Portsmouth, NH area.
- How am I going to get this property rented quickly? – One of the biggest expenses can be empty units. Every day a unit is empty it will cost the property owner. If your house rents for $2000 a month it will cost you 65$ a day while it is empty. Consider whether you have the resources for a comprehensive marketing plan to get it rented quickly. Just know that $35 -$65 a day can up quickly and vacancy rates will affect your ROI. http://www.seacoast.realpropertymgt.com/quickly_filling_vacancies.html
- How much time will it take? – Handling late night phone calls, collecting rent if it is late, showing the property….it all adds up. Unless you are ready and available 24/7 consider hiring a professional property manager. What does a property manager really do? Below is a video.
Real Property Management Seacoast New Hampshire
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