Strategies for Self-Managing Your Properties

[Joshua Sclafani]

Thanks to the great advice I got from the folks on this forum, I now have a great tenant in place for my first rental starting 6/1, and we are putting an offer on a duplex later this week, so exciting! So naturally I'm coming back to ask you all for more advise: What are the strategies you employ to streamline your property management operations if you self-manage? I don't want to outsource to a PM company until I have to and I've heard of everything from utilizing handyman services on a retainer to giving the tenant a list of recommended service companies...how do YOU do it? Thanks in advance!

[Peter Mckernan]

@Joshua Sclafani

It sounds like you have a lot of this drawn out, which is very good. I would say yes, being responsive to requests in a timely manner is key to success since land lording is a two way street. The more the tenant believes the owners are not doing their part the harder it is to get to an even playing field with them.

I have heard about Cozy, but never used it. I use Buildium.com, and I hear a lot of good things about Appfolio for bigger operations. I say keep consistent with Cozy and if you start to get into high rental property numbers you can move into a bigger and better platform. 

Smartmove is another great tool when you are starting out to use as a great credit and background check. These two are pivotal in getting a get responsible tenant into the property.