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3 August 2024 | 10 replies
Current systems and tools:- Assistant to manage payments, invoices, ensure rents come in and chat with tenants for issues- Melio for vendor payments- Baselane for banking - separate accounts for each rental and deposit- Google sheets for Income and Expense reporting- Azibo for rent collection automation with late fee automations- Drive for my leases, SOPs, and documentations of tenants move in/move outGoals of improved system: ensure I have a read out of how each property is preforming month over month, check on big expense items, ensure vendors get paid, mortgages get paid and rent is coming in, generate APY on float and savings for any big CapEx that comes up, and make my life easier come tax season.Is there a single software people use or what do you do for your business systems to optimize all of this?
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3 August 2024 | 10 replies
One of my tenants that I've had for several years is interested in purchasing the home that he's currently living in (he's rented two different homes from me).
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3 August 2024 | 11 replies
If you're lucky, then after a couple years your property has appreciated, gone up in value (possibly because of rehabs you've done, rents that have been raised, or both).
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2 August 2024 | 18 replies
On the other hand, if the single home doesn't get rented out, we can just move in there too!
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30 July 2024 | 10 replies
We'd like to rent both houses if we moved.
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2 August 2024 | 11 replies
We would need to rent back to the family member, who is on a fixed income.
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2 August 2024 | 4 replies
If a duplex rented out for 2k per unit, would adding another unit be an additional 2k in rent, or would it dilute the property and make the rents lower.
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3 August 2024 | 9 replies
Sends out rent reminders near the end of the month.
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2 August 2024 | 2 replies
The 2nd unit needed some renovations which I have nearly finished and I hoped to rent out it out as a MTR to traveling healthcare workers.
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2 August 2024 | 10 replies
Is there a standard multiplier like say 20% of rent goes to vacancy and opex?