Rental Business: letting tenant help with day to day maintenance VS. hiring Property Manager?
Hi All, I have a 4-plex. it is far from where I live. one of the tenants is also a landlord so has some experience. I am considering letting her manage the day to day maintenance for a monthly fee I will pay her. her job will include calling a handyman, plumber, ec when needed. What do you think her monthly fee should be and is it better than hiring a property manager? Also, if I hire her for that purpose should I pay the people she is calling directly (by sending them a cheque in the mail since I live far as mentioned) OR pay her and have her pay them? THANKS.
Asked By: Neil V - 10/18/2010
Best Answer - Chosen by Asker
I would pay the workers directly. The only think I would worry about is someone abusing your system. Saying there is a problem with a sink... and charging $150.. How do you know there was really even a problem... More
Answered By: chris - 10/18/2010
Additional Answers (2)
Unless she has a license that would be illegal. It is illegal to manage property you do not own with out a license in most states.
Answered By: Wildcat - 10/18/2010
You would need to give her a new lease since she would be your employee. To protect you, the new lease would need to state something like she (and her family) have to vacate within x number of days after the termination of her employment.
Answered By: R P - 10/18/2010
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