General property management best practices

[Jack Wang]

I'm very early on in my journey in buy-and-hold long-term rental real estate investing; I only have one unit that I purchased in late-2019 before having encountered biggerpockets and the other online resources on the topic. I bought the unit new, but there's just been nonstop occurrences of various issues in the unit, despite it being new construction (not the tenant's fault). This leads me to start pondering how I can best create a system for when I start scaling so I can make resolving repairs and issues as cost effectively and efficiently as possible. Any tips & tricks from seasoned landlords? I have a few specific questions as well:

1) Should I install keypad locks on my rental units' doors so that I don't have to rely on the tenant to let in the maintenance guy? This probably makes turning tenants easier, so I don't have to bother with keys, right?
2) Any recommendations for property managers in Richmond, VA?
3) Should I come up with a list of preferred plumber/electrician/handyman, etc for the property manager so that I know I'm getting good price/service?
4) Any recommendations with regards to brands/models of appliances (fridge, oven, washer/dryer, etc.) that are the most durable and cost efficient? Would it make sense to standardize the brands across my future rentals?
5) Would it ever make sense to have the tenant be responsible for getting the washer/dryer fixed if they break?

Any sort of tips & tricks for the rehab process or during the actual rental period to make things run smoother/more cost effective would be greatly appreciated! Thanks in advance.

[Griffin Brand]

@Jack Wang, you're asking the right questions! Sorry to hear about the constant issues in your unit. A couple things for consideration:

- I've installed keypad locks on all my rentals. The cheapest ones at Home Depot/Lowes are under $100 and have been great for me. They allow multiple codes, allowing you to have a master code, while your tenants have their custom code (this is also clutch for STRs). There are some very nice ones that connect through wifi and allow remote opening/locking, as well as changing the code, but these can get quite expensive.

- I'd recommend looking into RentRedi property management software and Stessa for expense tracking software. 

- Having a list of go-to contractors and specialists in very important. Even if you have one that you love, it's very common for them to get busy and all of a sudden be out of reach. Always have a few on deck and ask for several referrals from them to make sure you're working with solid people. Your property manager should have a list of preferred contractors (if they are any good), but it's always good to have contingencies. 

- Vet your property manager just like you would a contractor or anyone else. Make sure you talk to other clients they have, Google them to make sure they don't have any bad press, check criminal record, etc. 

- If your tenant supplies the washer/dryer, then they are certainly responsible for getting them fixed. If you supply the washer/dryer, however, you will likely face some resistance from prospective tenants towards being responsible for fixing them

Richmond is a great place and I wish you all the best on your real estate journey!