All Forum Posts by: Shamus Wheeler

I just want to know now the differences between Cozy and Tellus. It seems like Tellus integrates with Cozy so I wonder what Cozy offers that Tellus doesn't.

@Shamus Wheeler - I read that Naborly offers background and credit checks on tenants for free for tenants AND landlords in the USA. That's pretty incredible! I found the excerpt below from their website.

"Naborly offers unlimited FREE tenant screening & credit reports to every landlord & property manager in the United States and Canada. Optional criminal background checks are free for US customers and only $25 for Canadian customers. There are NO ANNUAL FEES and NO HIDDEN COSTS. We make money by simply offering tenants the option to purchase their Renter's Insurance with us once they are approved for a property."

I haven't had tenants move out yet so no, but my mom has looked into it for one of her rentals that might need to be listed soon. I believe customer service told her they partner with a screening company and have some corporate deal. Maybe you can ask for a sample report?

Are there any RE agents in the area that you could pay to do showings and find renters? They may also have leads on a good maintenance person.

My recommendation is to try managing it yourself at first. It’s the best way to learn what property management entails and more importantly it will also help you know the property better. For example you’ll notice more things that should be fixed or better maintained and also get a real sense of how much it cost to fix things.

After you get some taste of it, then if you’re too busy you can hand it off to a manager.

There are also property managers that help with just the tenant search and listing. So you could outsource just that part and it won’t cost nearly as much.

Lastly make sure you have your systems in place and a good way to document things. I use Tellus which is a free mobile app to collect rent for free and back up all my chats with my tenants. It also lets me take photos of receipts and categorize it by unit so finances are easier. Whatever system you use make sure it is something you can stick with.

I would consider sitting down with the property management company and informing them of your concerns and see what you can work on. Let them know of your 5 year plan and how they could be a part of it.

5hrs. is a long way away

I self manage and a property manager does not appeal to me- but I am 15 minutes away.

1. Stop worrying about a handy man. Your #1 concern as a long term investor in that community and as an investor in general is to get the best tenants you can get. Figure out how you get there, and I don't think it is through a lock box or having a handyman show the unit.

I personally would not rent to someone who is going to be looking for free or discounted rent for doing odd jobs around the place. Good tenants keep me informed of the goings on when I need to be informed, they feel like they have a vested interest. Maintenance issues will present themselves- but they are the easiest thing to deal with. You need to figure out a method that will scale and keep you wanting to do this. There are plenty of books and advice on building a team- but people need to be paid for their time. I demand quite a bit, and I am happily rewarded with it. ;)

Trust me- you get one bad tenant/issue and that 5 hours is going to mean all the difference.

Sounds good...and DO NOT pay the handyman upfront..only upon completion and with photos. And do not use craigslist to find one...