HowTo Managing documents across several properties?

[Matthew Banks]

I'm finding it a bit overwhelming to manage the documents with our handful of MTR/LTR properties. Insurance, tax, tenant info, leases, applications, listing/marketing docs, water, notices, repairs, logs of maintenance and tenant damage, etc. I get a number of physical docs but also have many other docs in digital format. 

I have a physical folder for each property and year (purchase/closing, insurance docs, ...).

I have a digital folder for each property, a tenant folder for the tenant(s) of each property.

A digital general property management folder with applications, leases, marketing, etc.

I'm trying to use sheets to log repairs/maintenance/ToDo

Scanning every doc into digital would seem like a huge waste of time, so I imagine I need to keep physical files.

Anyone have a better system for managing physical/digital docs?

Love to hear what works for others.

Thanks!!!

[Nathan Gesner]

Quote from @Matthew Banks:

I address this in my book, which I hope to release this summer.

Get rid of paper as much as possible. Buy a solid scanner like this one:  https://www.amazon.com/Fujitsu-Scansnap-Document-Scanner-PA0...

Spend an hour creating a solid filing system. Try to keep it from being 54 levels deep! Create a standardized naming system so that you can still find files with a search function, even if they are placed in the wrong folder.

I name my files: YYYY-MM-DD - address - tenant - purpose

Example: 2024-02-01 - 123 Straight St - Alex Jones - Lease Agreement

This works with 350+ rentals. If you only have a few rentals, you can probably get by with a dumbed-down version: 2024-02-01 - 123 Straight St - Lease

Then organize your files:

Properties

    - 123 Straight Street

         - Photos

                - Marketing pictures and video

                - Inspections

                      - Jones Out

                      - McKenzie in

                      - McKenzie inspection

                      - McKenzie out

                      - Brown in

         - Tenants

               - McKenzie and Elsbury

               - Jackie Brown

         - Maintenance

     - 456 Jones Ave

         - Photos 

         - Tenants

          - Maintenance