We see many clients come to us after taking on the responsibility of managing a home for a family member who can no longer care for it. This can be a challenging process for many of our clients, who are working to understand their options, what will be best for their family member, and best for the home in the long-run.
When you first learn that you will be charged with caring for a family member’s property, it is smart to do as much research as you need to feel comfortable. By feeling confident and educated on your options, you can be empowered to make the best decision for you, your family member and their home.
A good way to start getting information is by checking out some of the articles on our Learning Hub. Our content will help to answer your biggest questions, and prepare you to make the right decision for you – no matter what that looks like.
You can also learn more by beginning to research what property management companies are in your area. Start to look at their websites and what kind of content they provide to help you along your journey. If you find a company that you think may be a great fit, it is worth taking ten to fifteen minutes and reading their reviews. A great property management company will have reviews that reflect that. If you notice a theme throughout the reviews, you can expect to experience similar things when you become their client.
Once you feel confident in your industry knowledge and in the top companies you have selected, it’s time to make sure that everyone who is going to be involved in this process is on the same page.
It is not uncommon to see sibling groups caring for a parent’s home, or for multiple family members to be involved in caring for another family member’s property. If you are going to be working as a team, share what you have found with everyone and make sure that the key decision makers are comfortable, and ready to move forward.
Once everyone is on the same page, it’s time to reach out to your property management company of choice and get even more of your questions answered.
Now that you are ready to reach out to the property management company you have chosen, you can prepare by compiling your remaining questions and sharing them with the company during your initial calls. This will help the company to fill any educational gaps you may have, and understand and address what your concerns are.
You can also note during this time how responsive the company is, and how they treat you as a potential client.
Often, the best choice for the home is the best choice for the family and the property owner. Renting out the property will allow you to maintain the home well, and use any additional income to care for the family member whose property is being rented out.