Property Without Professional Management Becomes Nightmare for Owners

Are you debating whether or not a property management company would be of any value to you? Recently a couple from upstate New York found out the hard way that moving out of town and not keeping tabs on their property may have cost them their historic home.

Are you debating whether or not a property management company would be of any value to you? Recently a couple from upstate New York found out the hard way that moving out of town and not keeping tabs on their property may have cost them their historic home.

Homeowners Rob and Greg decided that they would give country living a try and found a tenant for their city home that they thought would be perfect. She told the couple that she would be living in the home with her uncle, but actually posted the home on craigslist and used it as a boarding house, placing locks on every door and renting out each room to up to 20 different sub-letters.

Rob and Greg apparently did not visit the property regularly or have a management company performing quarterly inspections on the home. They had no idea what was happening in their home until it was too late. It was essentially destroyed, moldings damaged, fireplace surrounds smashed to the floor, plumbing, electrical, and appliances were all damaged.

With their home now unlivable and the huge cost of repair, the couple is now on the verge of homelessness.

A property management company like RPM could have run a thorough background check on these tenants and picked up on any red flags. With multiple property inspections per year, there would have been no way to hide activity of this magnitude. Our hearts and best wishes go out to this unfortunate couple and hope that future landlords can use their story as a warning to always have their properties inspected for lease violations before they become out of hand.

Read the full story and see video of the home here: http://www.wivb.com/dpp/news/buffalo/rental-home-turns-into-sublet-nightmare

Photo credit http://www.stockfreeimages.com/