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fintstone fintstone is offline
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Join Date: Oct 2000
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I have done it both ways...and currently have property managers for my properties. I am able to write the expense off against the income and it sure saves some time and some headache. Even with managers, there will always be headaches with some renters. Even though you usually don't deal with tenants personally, the manager will usually advise you of what is going on...as will an occasional neighbor (If they know you). You have also added another potential person in the mix (The manager) for you to be annoyed at (because they did or didn't tell you something, failed to do something you asked, or spent to much on a repair, etc). Another problem that I have with my property in other states is that eventually, the property manager knows the tenants better than you. In one rental I have where the same folks have been there for decades, the manager saw them at least once a month when they paid the rent for almost 30 years. He saw me every 5 to 10 years. Sometimes when he argued for leniency for late rent...I wondered who he was working for as he knew them by first name and acted like they were very old friends and I hardly knew him. Eventually he died and my new manager was able to keep a better perspective and has advised me to increase the rent etc. I still keep it slightly below market for such long time tenants.

Personally, I believe it is worth paying for a manager if one can afford it (assuming some ability to deduct it from taxes).

On the other hand, I have had renters that were complained about simply because they had somehow crossed a neighbor ...and in one case because a neighbor was trying to sabotage my rental endeavor because he wanted to buy the house cheap. Once when it was vacant, he reported it to the city as a "drug house". Have you considered that perhaps the tenants are innocent and have every right to be snarky or perhaps you worded your email a bit too strongly?
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Last edited by fintstone; 01-11-2015 at 07:12 AM..
Old 01-11-2015, 06:44 AM
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