How to Rent Through a Management Company

Management companies represent properties owned by investors and individual homeowners. They are typically responsible for finding tenants, collecting rent and providing maintenance.

Things You'll Need

• Financial Calculator
• Local Newspapers
• Real Estate Attorneys
• Notebooks
• Personal Organizers
• Writing Pens

Instructions

1. Become familiar with management companies in your area. You may notice company signs in front of rental properties or find their names in rent guides, the yellow pages or on the Internet.

2. Check the local newspaper ads for available rentals.

3. Do some research on the companies that interest you. Check Web sites to learn about what kinds of properties each company offers, and if possible, ask current renters their opinions of the management company and its properties.

4. Call a few management companies to discuss what you're looking for, and learn what properties are available. Schedule appointments to view properties.

5. Look at each rental carefully to assess the overall accommodations and to note any damage. Be sure to do the sniff test to check for any leftover odors from pets.

6. Sign and date a walk-through list that details the condition of the property. Include photos of anything that is not as it should be to document that the condition existed prior to your moving in. Sign and have the management property representative sign and date the back of the pictures to remove any doubt. Ask the representative or manager about repairing damage you see, and discuss company guidelines for general and emergency maintenance.

7. Get the agreement of the repairs and the terms of the lease in writing. A written agreement lets the company know what you expect from them. It lets you know how the company is obligated to you.

Tips & Warnings

• Contact company offices as opposed to specific properties. By working with someone who is familiar with all the company's properties, you may get better and more complete service.

• Be clear about what you need out of a rental when talking to management companies. This is the best way to help them help you.

• By having the terms and conditions of the lease in black and white, you will best be able to ensure your expectations will be met.

• Making a profit is the goal of management companies. It's important to remember that the property manger is looking out for the interests of the owner, not the tenant.

• Find out from the current tenant if a run-down property has gone without improvement while under a particular company's management. If more than six months have passed since repair work was done, back away from the deal. This means the company has a strategy to give owners a return and make a profit for the business by neglecting capital improvements.

• Make sure the company will rectify any damages marked in the walk-through done when the previous tenant moved out. Some of the companies that cater to the low-rent or college-student crowd keep security deposits but don't use the money for repairs.