I’ll be travelling for a prolonged period of time and want to rent my house. A friend of mine says one option is to have my house listed through a real state agency. He says that I can also establish a management agreement with them to manage the house and do the required preparation between renters. Any idea on how the management agreement is work? What it typically costs?
A lot of agencies will manage your house as a rental for you. A fairly standard commission is 10% of gross rent, but beware as some places charge 1/2 month of rent to place a tenant in there. You’ll also have to work out how repairs will be made. Will the agency call you for any repairs over $100 or some other number? Will the agency use their own repair person and how much would they charge for that?