How to Be a Successful Absentee Landlord

Renting Your Home While Traveling Overseas

Being located in a city other than your rental property has its problems. Make your location overseas and the stress level increases 5 fold. These tips should enable you to prepare, execute and manage your rental property properly. The first step is to determine what your goals are in renting your property. There are many possibilities; Income, maintenance of property for your use on return to the area, long term rental if you don't even plan to return to that area or short term rental while you look for a buyer for the property.

Once you have determined what your goals are you need to look for a reputable rental agent to manage the property for you. It is not advisable to use family members located in the same city. This type arrangement has its own set of unique problems. An agent who is paid for his work and has verifiable references will take care of the property as well or better than you would yourself. Either look in the yellow pages, on the internet or ask friends and family if they have anyone they can recommend.

In addition to working your network for names of reputable agents you should post a need for an agent on Craig's List. Make sure you state clearly what you are looking for and stress that you will check thoroughly all references given.

If possible try to have at least three rental agents to interview for the position of managing your property. Prepare for the interview by making a list of questions you will ask.

Hold the interview with property management candidates in a neutral location. Do not have the interview in their office or your home. Meet in the lobby of a quality hotel in a quiet area of the lobby. Ask all the questions on your list and make notes of any questions the prospective management candidates ask of you. You should have a file folder that can seal and unseal to keep separate notes on each interview. Inform each agent you intend to check completely all references and make sure references provided have complete contact data. Get permission and take a digital image of each candidate.