How do you personally manage your property?

[Ravshan Iskhakov]

Hey Guys,

As part of DIY discussion, how do you manage your own property and why (or why not) you prefer (or do not prefer) property management professionals to handle it?

Do you use any property management softwares? Do you use internet to collect rent online (via e-check, credit cards)? How do you handly work orders? Do you prefer email correspondence with your tenants or phone calls?

Lets discuss it :)

[Michael Rossi]

I also manage all of my rentals. You will NEVER find a property manager that will care as much about your property or do as good a job as you (assuming that you do a good job). In addition, I do almost all the maintenance and rehab work myself. I do use a HVAC company for complex HVAC work, etc.

I used property management software when I was a newbie, but no longer use it. I found that I was spending a lot of time putting garbage into the computer and it didn't generate one single additional penny. Now, I simply use Quickbooks Pro for accounting and I use Microsoft Publisher for creating and printing forms. I find this MUCH more efficient than putting duplicate data into property management sofware.

I collect rent IN CASH! I prefer $100 Bills and I check each bill with a counterfeit pen.

I don't handle work orders. When a tenant calls to report something that needs repair, I go repair it.

I use my cellphone for all rental contacts - no email with tenants.

Mike