Self management - is it common?

[Shimi Elimelech]

Hi,

As a foreign investor, I must use the services of a management company. As locals, are you managing it yourself?

Also, do you have any recommendations for self managing softwares?

Thanks!

[Dave Spooner]

@Shimi Elimelech TransUnion SmartMove is just a screening software. It's a good one, but you probably need something a bit more robust if you're self-managing internationally.

It can absolutely be done, we work with a lot of landlords located outside the US that self-manage with Innago, for example.

I think there are two keys to making it successful:

• Find software that offers all in one tenant management features (signing documents digitally, collecting rent online, tracking communication, maintenance, automating reminders, etc.)
• Get connected with someone local to handle boots on the ground activity

Sometimes you need someone to perform maintenance or even do a showing. Those are two things that are impossible without someone physically there. You can hire a full fledged manager but having a trustworthy local handyman can be more than sufficient.