Managing Rentals From a distance

[Bobby Paquette]

How are people managing their rentals out of state? Specifically, turning a unit, Changing locks, Repairs AND showing to potential new tenants? Are you just getting a leasing agent to throw a lock box on it, and having your contractor go in do some work, and then leasing agent showing the home? 

[Drew Sygit]

@Bobby Paquette really depends on the Class of the property, which is determined by tenant pool, location and condition.

Class A: easy to manage remotely

Class B: more challenging

Class C/D: should only be attempted by experts

If you follow the STR lock strategy, you can install smartlocks and then program codes for each tenant's lease. Challenge is getting tenants to accept no-keys and changing batteries during their stay. We do recommend screwing a lockbox to the side of the house and putting a key in it as an emergency backup.

You can use Turbo Tenant or ShowDigs to get agent showings.

Maintenance while vacant will be challenging. A smartlock can control who accesses and when, but who do you trust? Many contractors will take advantage of remote owners by doing shoddy work or not even doing some stuff. See if you can find an agent willing to do video walk-thrus for you for a fee.