The story posted is a reason to:
(a) use a certified check, direct bank transfer, or credit card billing at least for initial funds. Or impose a 5-day waiting period for personal checks
(b) screen tenants better. At the very least — 2-3 references including employment and Google their name to see if things smell right.
None of those things require a property managing goniff as a middleman.
agreed… that particular landlord didn’t really do anything right. They are a prime example of someone who shouldn’t be a DIY’er (or maybe they shouldn’t own rental property at all with such poor judgement)
I guess it’s like a lot of things that I could do myself much cheaper … I pay a gardener and a cleaning lady. I’d rather spend my free time on other activities. Same thing with property management. Been having them deal with my tenants for about 12 years. I think the thousands I’ve wasted over that time was worth the extra couple weeks of free time.
spdrun … You seem pretty opinionated on this topic. I am too. Maybe I’m too colored by my own experiences. How long have you been managing your own properties ? What kind of experiences have you had with PMs in the past ?
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