Maybe I should raise the rent every year, to keep up with current market prices, but I'm not good at doing that. Every few years, I am responsible to arrange for the City Inspection, something that is required for all rentals in Wyoming, but they could probably do that as well.With the 90% we receive, we are able to make our house payment and maintain the property, but not much more. For this, they handle all advertising, interviews, leasing paperwork, rent collection (through an online portal), conformance with local/State/Federal leasing laws and even evictions, if it comes to that. They put a sign up while we were cleaning and painting, and wthin a week they found me an excellent tenant that keeps the house cleaner than I did! I have a fenced yard and allow pets (for an added fee), so there was demand for this type of rental.Access PM Group only takes 10% off the top for 11 months of the year, then about half in the month of the annual lease renewal. Our house was worth less than we owed, so we couldn't sell it to get out of the mess.We hired Access PM Group to rent it out. Our family was having financial troubles, so we moved out of our 3-bedroom house and in with family. Thank you Eddie, and thanks to the rest of the staff.Access PM Group is located in the Boltwood apartments in Allendale, but manage properties throughout the West Michigan area. For now, we just have the one rental home, but Access PM Group treats us like we are they best and most important client. We will definitely be calling Access PM Group when we add more properties. Property values trend upward, and rent goes up with inflation, so they are a great "Growth and Income" type of investment. I have very little direct contact with the tenant.My wife and I plan to purchase another property or two before retirement. All repair costs are taken from the monthly settlements, so it is a "hands off" kind of business for me. They will even arrange for contractors to come in to do professional repairs, notifying me if the repair is going to exceed $300. In 2035 the house will be paid off, then we will definitely have it as a source of passive income, which we will use to buy another property.Access PM Group has their own maintenance team to handle emergency calls from the tenant and do small jobs, like changing HVAC filters or troubleshooting other issues. They said they had dozens of showings before selecting a tenant.Access PM Group takes 50% of the rent for the lease origination/renewal paperwork and legwork, then 10% for each month rented out. They put a sign up while we were cleaning and painting, and wthin a week they found me an excellent tenant that keeps the house cleaner than I did! I have a fenced yard and allow pets (for an added fee), so there was demand for this type of rental. , We decided to move out of our 3-bedroom house and in with family that had extra space, and not enough income to cover their expenses either.After shopping around, we hired Access PM Group to rent out our home. Our house was worth less than we owed, so we couldn't even sell it to get out of the mess., we were more than $20,000 upside-down. Our family was having financial troubles, quite common during the recession.
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