Property Management Tips

[Amish J Patel]

Hey Bigger Pockets Community,

My brother and I are under contract for our first rental property purchase. 

Located in the outskirt of Charlotte, where my brother resides, there are 3 turnkey units with tenants already in place we are acquiring. It is a new property, less than 6 months old, so don't expect many routine repairs to start. We wanted to try self managing to start. He is available on weekends for site visits as needed. Will likely be purchasing a property management software subscription, and already have several contacts for handymen in the area. Looking for any tips on how to succeed at this endeavor as this is new for both of us. Appreciate any help!

[Adam Bartomeo]

Self-managing is a learning experience and takes research to stay out of trouble. Knowing the laws is vital to avoid the pitfalls that come with being a landlord. Having a solid lease and know the lease is also very important.