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Updated about 2 years ago,

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590
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691
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Leo R.
  • Investor
691
Votes |
590
Posts

Remote self-management of LTRs...a pipe dream, or a possibility?

Leo R.
  • Investor
Posted

What are folks' thoughts / experiences about remotely managing a B-class (or higher) single fam or small multifam LTR in a mid-sized (or larger) city?

(I specifically say B class or higher in a mid-sized or larger city, because lower class properties, and properties in more rural areas would be exponentially more difficult to manage remotely...I may not be the brightest bulb in the chandelier, but I'm smart enough to avoid that trap...).

I've self-managed my local LTRs for years, and the task that requires my physical presence more than any is showing property to prospective tenants (I can't easily hire this out to anyone other than a PM, so I'm stuck doing it myself)... but, I have heard of owners using smart locks, security cameras, and Zoom to remotely supervise/monitor prospective tenants who walk the property without anyone else physically present...Does anyone have experience/opinions about managing viewings remotely?

As for repairs / maintenance tasks, I can (and often do) coordinate repairs / maintenance tasks from my phone, and my repair / maintenance people rarely need me to be physically present (of course, it helps that I have a decent team of repair/maintenance people in my area)...but in theory, if I can do that from down the street, I should be able to do it from across the country...

...very interested to hear folks' thoughts on this...

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