Since you have helped me out…I thought you could help my friend that also has a delima. Her mother recently died. She purchased the home through the estate sale and is now thinking about renting it out. We live in Minnesota and the home is in Florida. Do you have any advice on how she should handle this. How does out of state landlording work, where can she find forms that are for Florida specifically…or does that matter, will a general one work. What type of forms will she need, is there someone she needs to hire, how much will this cost, and how hard is it to manage a property being out of state…any help would be appreciated.
Search around for some good property management companies in the area. If they are a good management company they will keep you informed of your property, saving you the hassle of traveling constantly.
How does she go about finding a good management company. I already did suggest that she have a management company run it. But how does she find them…(most likely through the internet) what should she look for to know that they are good. Also, how much is that going to cost her? What else should she know…or try to find out so that she can get started.
Yes, the internet is one place to start. Most will have websites that tell about their service and you will probably get a good feel for 2 or 3 you like. Then, ask for references AND call the references. Ask how long the company has been managing their properties. Are they happy, are they responsive, etc. On average a management company will charge 10% of gross monthly rent.
All I can say is If you need help with a situation you contact a professional in that field and area.Since we are not allowed to solicit for networking business I will not tell you to call me but I know of a great website that you can get ahold of a real professional in the Florida area. http://thecampbellgroup.org/contact.htm.