@Schlep
Beruit is correct about the benefits of a property management company when you are abroad. They have the ability to run credit/background checks on clients, know how to advertise when a unit is vacant and make sure the contract and such is done professionally, and in the event of a tenant not paying the rent they have a legal team on hire to resolve those issues.
I think if you really find you have an issue with one of your units and tenants you will be in a much better position if a property management company is dealing with this when you are halfway across the world in SE Asia or Eastern Europe than with a friend.
Basically, they would make this a much more passive investment.
Also, you should run the numbers it is probably the same price or cheaper to have a property management company manage your units than the amount you are losing having your friend live in a unit for free.
Beruit is correct about the benefits of a property management company when you are abroad. They have the ability to run credit/background checks on clients, know how to advertise when a unit is vacant and make sure the contract and such is done professionally, and in the event of a tenant not paying the rent they have a legal team on hire to resolve those issues.
I think if you really find you have an issue with one of your units and tenants you will be in a much better position if a property management company is dealing with this when you are halfway across the world in SE Asia or Eastern Europe than with a friend.
Basically, they would make this a much more passive investment.
Also, you should run the numbers it is probably the same price or cheaper to have a property management company manage your units than the amount you are losing having your friend live in a unit for free.
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