We cannot understate the importance of engaging a good property management company to oversee your rental investment in the USA. These people will be your right-hand men on the ground in the USA and will take care of the hundreds of small tasks and responsibilities involved in letting out and overseeing a property.
The exact obligations of your property management company will depend on the firm you hire and the level of service you opt to pay for. However, at a basic level, your property manager performs the role as the middle man between you as the landlord and your tenants. A comprehensive list of their duties and obligations can be found here.
One of the most important functions of property managers in the USA is to arrange and monitor the efficient collection, reporting and accounting of the rent each month. Their job is to ensure your tenants pay on time and who will to take action if it isn't. This can include anything from sending reminders to issuing eviction proceedings to taking your tenants to court if needs must.
Another important service most property managers offer is to market your home to potential tenants and to put candidates through a thorough vetting process. Once tenants have been installed in your home, the property management company will continue to oversee the maintenance of your home and arrange for any repairs to be carried out as necessary. If vacant, they will also ensure that your property remains clear of any city noticed by ensuring that the grass is not been left to overgrow any that your home doesn't pose a risk to the community.
To summarise, a good property management company will be one of your most important assets in the
buy-to-let process. They will have the authority to make
instant decisions which are time sensitive and which will be out of arm's reach to you as an overseas investor. This is why it's so important to ensure you choose the right property manager to oversee your rental property.