How does one manage a rental property in another state where the property is in a regional town and the town’s real estate agent does not offer property management??
Suggestions and ideas much appreciated1.Does an agent in a neighbouring town offer property management to the town your property is in (can the agent suggest someone?)
2. Can you do a long term lease eg with police department, teaching or health which will minimise your risk with tenant selection
3. Employ someone (possibly under the Agent’s legislation in that state they will need to be your employee rather than an independent contractor)
4. Try the local chamber of commerce or progress association.I’ve been considering an investment in another town where there is no managing agent. These are the types of solutions I’m thinking of. I did think to ask my managing agent in another town whether they could vet the tenants, check references etc for a fee as they would have access to credit/tenants checks I wouldn’t have.
The other thing is it could be harder to sell as outside investors could be less interested
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