Rental Property Management?

[PharmingFIRE]

Hello All,
My wife and I are getting ready to pull the plug on this regular job thing this year and will be moving out of state. To prepare to do so, I am looking for some input about rental property management for our 2, three-family houses where we currently live because I would like to keep them.
So...
Do you use a management company? Do you like it? Tips for finding a reputable company? Maybe even a solid recommendation in the Boston, MA area?
Any other advice you think would be helpful?
Thanks so much.
PF

 

[PharmingFIRE]

Moderator: Could you move thread to "FIRE and Money"?

I think it would be more appropriate there. Thanks!

 

[Fishingmn]

I would recommend going on the BiggerPockets: The Real Estate Investing Social Network website and seeking an answer there.

 

[Senator]

I manage all 24 of my rentals, all by myself. if you are going to be a long distance away, for a long period of time, you need a person on the ground. but if you have an onsite caretaker, that might work for you and be quite a bit cheaper.

you will find a property management company will cost you a lot more than just the monthly fee.

 

[PharmingFIRE]

I manage all 24 of my rentals, all by myself. if you are going to be a long distance away, for a long period of time, you need a person on the ground. but if you have an onsite caretaker, that might work for you and be quite a bit cheaper.

you will find a property management company will cost you a lot more than just the monthly fee.

Senator - Thanks for the reply. I definitely need someone on the ground but there isn't anyone around that I could rely on to take care of all that is required (rent collection, maintenance, Sec 8 inspections and associated follow-though + paperwork)

The properties are nicely cashflow positive so I am reluctant to sell and am leaning toward management. I know I will be getting screwed vs doing it myself but as long as they are reasonably responsible and honest I do not mind paying for the service. I am also kind of "done" dealing with tenants and maintenance myself.


Fisherman: Thanks - I will look into BP.