If you rent out your house (esp. if you use a management company...)

Is it out of sight, out of mind?

We're buying a new house and renting out our current one and I feel like I'll be up at night worried all the time that the tenants are trashing it.

We're going to hire a management company to do the search, write the lease, and do the day-to-day communications (if tenant needs a repair, for example) but I think I'd still be paranoid that our "investment" is in the hands of someone else.

Would love to hear good/bad/ugly experiences from people that rent out a house.

Re: If you rent out your house (esp. if you use a management company...)

I am currently doing this and just try to have faith. I worry a little but I can't let it consume me. I have my next door neighbor as spies so that helps. Do you have neighbors you are friendly with?

Re: If you rent out your house (esp. if you use a management company...)

My AZ apt is not managed but I have someone on site to take care of stuff. Last tenant trashed our place and it required my homeowners to repair.

This new tenant is a different type, older woman with her adult daugther and helpful son around to help her move stuff around.

My on site person comes by once a month to change the air conditioning filter and gives a quick visual and reports back to me.

Re: If you rent out your house (esp. if you use a management company...)

I have 2 homes rented and I don't have a management company set up with either of them. Not necessary IMO.

They both have contracts that I put together with the existing landscapers, pool company and A/C specialists so that the property is being properly maintained..If they have any problems with anything in the house, they will phone me and I'll send someone out to take a look at it but it's basically THEIR responsibility...They are living in the house and they are using the house so they need to pay for anything that comes up..