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All Forum Posts by: Rodney McDaniel

Rodney McDaniel has started 2 posts and replied 12 times.

Hello all! I was just about to post and saw your thread @Jerome Nunez. I use the Rent Redi software from Bigger Pockets and it is amazing. Also affordable. Especially for a landlord with only a few properties. Rent Redi has a maintenance feature with a partnership with Latchel. I have been self managing my tenant requests myself but contractors have been hit and miss. i would like to try Latchel through Rent Redi. Has anyone out there used Latchel before? What has been your experience?

Quote from @Svend W.:

Pipes froze and now have burst pipe and had to shut off water to the house. I’m guessing it could last a week or more.

Any thoughts on how to handle this?

The tenant has already been without water for 2 days.

Do i need to provide a hotel room?

Thanks


 I had the same thing happen as well. Pipe froze and busted on Christmas Day. The tenants were out of town. I was thinking it would be a good gesture to provide a hotel room. I didn't think about the renter's insurance covering this since I don't require it. Some of my tenants have it and some don't. I think I will start requiring it.

Quote from @Rodney McDaniel:
Quote from @Randall Alan:
Quote from @Rodney McDaniel:

I am in the process of taking over my 5 units from my Property Management Company. I have seen that most apartment communities and other residential rental companies use Rent Cafe. I have heard of RentRedi and software issues. I would like to have a one stop shop that provides the tenants with many of the features as RentRedi provides but, I don't have time to manage any issues. Has anyone had experience with other software programs? 

I have not used rent cafe, but can speak to rentec-direct.  We love it… manage 40 units with it.  It has a tenant facing web portal, collects and deposits my rent in 1 day via ACH for no extra charge, offers debit / credit card payments as well for a service fee to the tenant, and SOOO much more. Full blown reporting, tenant screening, is easy and intuitive to use, etc.  And it’s really affordable… like $2-4/door /month.  It’s the best money I spend every month!  
Not an ad… we just really like the functionality and price. 

Randy 


 I will take a look at rentec-direct!! Thanks.


 I like Rentec-Direct a lot. I think I am sold on it. Again, thanks for the recommendation!

Quote from @Drew Sygit:

@Rodney McDaniel

"I don't have time to manage any issues"

You may want to rethink DIY management as property management ALWAYS has issues!


 I had a company managing the properties but, I was always having to get involved anyways especially with Maintenance issues. So why not just DIY.

Quote from @Randall Alan:
Quote from @Rodney McDaniel:

I am in the process of taking over my 5 units from my Property Management Company. I have seen that most apartment communities and other residential rental companies use Rent Cafe. I have heard of RentRedi and software issues. I would like to have a one stop shop that provides the tenants with many of the features as RentRedi provides but, I don't have time to manage any issues. Has anyone had experience with other software programs? 

I have not used rent cafe, but can speak to rentec-direct.  We love it… manage 40 units with it.  It has a tenant facing web portal, collects and deposits my rent in 1 day via ACH for no extra charge, offers debit / credit card payments as well for a service fee to the tenant, and SOOO much more. Full blown reporting, tenant screening, is easy and intuitive to use, etc.  And it’s really affordable… like $2-4/door /month.  It’s the best money I spend every month!  
Not an ad… we just really like the functionality and price. 

Randy 


 I will take a look at rentec-direct!! Thanks.

Quote from @Jasmine Delves:

What are your main priorities when it comes to property management software? Some are great for tenant management and maintenance requests and others are stronger on the rental accounting side of things with features like integrated bank feeds, receipt scanning, income and expense tracking, and accountant-approved reports.

There are lots of options out there so it pays to have a look around and see what might work for you. Some of them also offer free trials which could be a good way to check them out first.

Hope that helps!

I would like to have rent payment collection options which is most important. The front end side is what I would value also, like the ability to send applications, and conduct tenant screenings etc. I have rented some properties recently due to travel and relocation for my W2 job and all have used RentCafe for payment collection, and lease document sharing. Thanks for the tips!

I am in the process of taking over my 5 units from my Property Management Company. I have seen that most apartment communities and other residential rental companies use Rent Cafe. I have heard of RentRedi and software issues. I would like to have a one stop shop that provides the tenants with many of the features as RentRedi provides but, I don't have time to manage any issues. Has anyone had experience with other software programs? 

Quote from @Nathan Gesner:
Quote from @Rodney McDaniel:

I own rental properties in another state. I have someone I know that is a Realtor, and I would like to have them conduct showings for prospective tenants in my absence. What would be fair to offer them as compensation for doing this? Thanks in advance!


 You'll have to determine what the market rate is. In some markets, an agent is paid hundreds of dollars or a percentage of one month's rent as compensation. You can also ask them to provide you with an hourly rate and you compensate them for the specific time spent showing the property.

many real estate agents will do a market analysis for banks at a rate of about $50 per hour. An open house for rentals requires less effort. You could throw out $50 an hour to them and see if they accept it or want to negotiate something higher.


 Thanks Nathan G. I was thinking around $50 and hour. I wanted to treat my rental open house similar to a regular home sale open house. Just have a one day 2pm to 5pm open house to let potential renters view the home. 

I own rental properties in another state. I have someone I know that is a Realtor, and I would like to have them conduct showings for prospective tenants in my absence. What would be fair to offer them as compensation for doing this? Thanks in advance!

I include a washer and dryer in all my properties as a courtesy to the tenants. If something goes wrong I manage the repairs but, I would not compensate the tenants for doing their own laundry elsewhere. There are of rental properties that do not include a washer and dryer, only hookups.