I spoke to a Realtor about listing our house with her to lease. Then she put me in touch with the property manager that she works with. (Ugh...hate ending a sentence with the word 'with')! So basically, if we list our house with her, she would put it out on the MLS, then that would automatically make it go out to a bunch of other websites that people use to search for a house to rent. She (or the other Realtors that she works with) would be responsible for showing our house to potential tenants. Her fee is one months rent. So if we rent our house for $1800/month to someone, then she would get paid $1800.
If we choose to use the property manager that she works with (totally optional), then he would be responsible for getting the lease agreement together, doing credit checks on potential tenants, handing over the keys to them, fixing anything that needs repaired while the tenants are living here, collecting rent money, and evicting tenants if they don't pay. He charges 6.5% of the monthly rent. So if we rent out our house for $1800, then we would pay him $117 every month that our house is being rent out. This seems like a smart way to spend $117 every month to me.
Henry and I are completely opposite in our thinking. He wants to pay $1800 for a Realtor to find tenants. I don't. I want to pay $117/month to have a property manager manage our home while we live many miles away. He does not. In the end, we will probably use both services. We are going to speak to a couple more Realtors and a couple more property managers just for comparison sake.
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