Family member as manager/agent : ezLandlordForms

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B S

started a topic almost 12 years ago

How can I set up a family member to manage my house as a rental while I am away?

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Karen S

said almost 12 years ago

You could give your tenants a notice of management change, which informs them of whom to contact if they need assistance, or if something is wrong with the property.

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Bob R

said almost 12 years ago

To answer your question – Draw up a contract stating ALL the responsibilities/limitations. This includes any “don’ts” such as authorizing roof replacement or max $$$ amount or repairs without your authorization. Depending on how you set up the handling of $$$$, you may also require relative to obtain a Bond…..You may also want to contact the Board of Realty to see if there are any laws pertaining to having someone other than you/co-owner collects the rent….. You MUST notify tenant of your intention. . -----Disclaimer: Since I’ve been answering a lot of questions, I thought I would make the following statement. I’m not affiliated with EZlandlord Forms. I’m just here (not sure how long) to help those that have questions. Unfortunately, it is impossible to give comprehensive real estate/tax advice over the internet, no matter how well researched or written. Therefore, it is up to you to become familiar with Fed/State/Local Tax Laws. Also, if you have real questions, you should consult with an attorney or tax professional……Having 40+ yrs with Rental Property and done well, it’s my way of “Pay it Forward (check out the movie).” I always like to know if the suggestions I offer are helpful. Feel free to comment anytime. Thanks in Advance. BTW...check out the Rental Property Organizer at Simp-List.com. Free Trial Download with data. Check out the new $$$$ for 2013