Recently my property manager mentioned that if I was interested in selling my rental that he could accommodate a sale. He implied there were always owners seeking to add to their rental portfolio. He indicated there were a number of options to a straight up sale, like a deeded title or something to that effect. That there are arrangements where I could continue to get a monthly income without being involved in the daily runnings.

Can someone explain this arrangement like I'm 5?

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Posted by Tiger Prawn

Member since Dec 2016

24945 posts

Posted on 5/21/25 at 12:48 pm to skylane

quote:
That there are arrangements where I could continue to get a monthly income without being involved in the daily runnings.

Isn't that the purpose of hiring a property manager? You pay them a fee to deal with all the BS like finding and screening tenants, collecting rent every month, dealing with repair contractors when needed, and filing evictions when needed.

Only thing I could possibly think of that he's talking about where you sell the property but still get a monthly income is an owner financed sale. I personally wouldn't do that. If you wanted to sell, then the biggest benefits are lump sum of cash and wiping your hands clean of the property. Selling to someone who's owner financing provides neither of those benefits and puts you at risk if the buyer falls behind and you have to deal with trying to foreclose. For all that, you might as well keep renting it out and collecting your monthly check while a property manager deals with all the BS. And if you want to sell, find a buyer who can pay cash or has their own financing.

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Posted by ItzMe1972

Member since Dec 2013

12123 posts

Posted on 5/21/25 at 12:49 pm to skylane

He's likely saying for you to finance it to a new owner and hold title until it's paid for.

In other words, you become the bank.

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Posted by skylane

Polebridge Montana

Member since Oct 2005