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Q: Realestate Rental / Property management questions ( Answered,   0 Comments )
Subject: Realestate Rental / Property management questions
Category: Family and Home
Asked by: tinypatient-ga
List Price: $10.00
Posted: 10 Nov 2006 16:25 PST
Expires: 10 Dec 2006 16:25 PST
Question ID: 781754
1. I bought two houses in Bolingbrook, IL. I do not live there. How
would I price the rentals? I am looking for rental for similar
properties on craigslist and local newspaper.

2. Since I am not local, I would like to give it to a property
management firm or an individual. A lady has shown interest. How would
I decide to pay?

3. Should I give to a property management company or a leasing agent
who has prior property management experties?
Subject: Re: Realestate Rental / Property management questions
Answered By: umiat-ga on 13 Nov 2006 09:11 PST
Hello, tinypatient-ga!

 Since you live out of the area, I would suggest you go with a company
that will serve as both a rental agency and a property manager. You
need someone who will keep an eye on the house, collect the rent,
contact individuals for maintenance, clean it between renters, etc.
When you, the homeowner, are not in the vicinity, it is essential that
you have an individual that can watch over all these matters. I have
been in such a rental position myself, and renters can wreak havoc on
a home unless someone with authority is able to swing by and halt
potential problems before they occur.

 While money might be a concern, I don't think I would get too wrapped
up in trying to find the "best deal" by mixing and matching
individuals for different components of the rental and maintenance.

 I did look around a bit, and I suggest you go with an agency like
RentalhomesInc., which services the Bolingbrook/Naperville area. This
company does it all, from rental qualification to maintenance. You can
also be quite certain that they will be familiar with the going rents
in the area for houses such as yours.

 Perhaps is the woman that already approached you. However, I don't
think I would hesitate to go with a company such as this unless the
fee is so exorbitant that you think it would negate the value of the

Rental Homes, Inc.

 Our Services....

 Property Appraisal  -  Rental Homes, Inc. can arrange a private meeting with 
 home owners to discuss the current market value of the property.

 Tenant Qualification  -  Rental Homes, Inc., will check rental history, will 
 require a picture ID, qualify prospective tenants by running a current credit 
 report, will verify job and salary, will obtain copies of two years of tax 
 returns if prospective tenant is self employed. 

 Rent Collection  -  Rent for all property that is leased is due on the first 
 day of each month. Late charge of $50.00 will be due if paid after the 5th of 
 the month.

 In-House Maintenance Service  -  Rental Homes, Inc. provides it's own 24 hour 
 maintenance services.

 Move-In Check List  -  There is a written move-in report that is done at the 
 time of move-in. If property is managed by Rental Homes, Inc., we will also do
 the move-out inspection. Pictures are taken at time of move-in and given to 
 owner, tenant, and copies will stay for the Rental Homes, Inc. files. Rental 
 Homes Inc. will keep copies of all leases, move-in check lists and pictures on 

 Provide Advertising  -  Rental Homes, Inc. will advertise your home on their 
 website and also will run a Rental Homes, Inc. ad in a local newspaper.

Bolingbrook rentals


 I realize this is only one option, but I truly believe it is your
best bet. You want your houses to maintain value during the rental
period. You need to ensure that the rental leases are signed correctly
and the security deposit collected, that items are not stolen if an
unknown cleaning company enters the house between renters, that
someone familiar with the property will notice maintenance problems,
etc. The property agency I referenced above seems to have a
long-standing familiarity with the Bolingbrook area, which is another
big plus.

 If you are still uncomfortable with this option, I recommend
contacting local real estate agents and asking for their
recommendations. They will often know of independent property managers
who take on smaller contracts while doing a great job for a bit less
money. It's up to you. Just make sure you don't sacrifice the "health"
of your properties to save a few dollars!

 I hope this helps!



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rental OR property management bolingbrook illinois
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