Being a property manager with multiple rental properties is a lot of responsibility. There are repairs to keep up on, lease agreements to keep track of, and rent payments to collect, among other duties. If you have multiple properties to manage, it can feel like quite the juggling act, but there are some things you can do to make it more manageable.
Staying organized can be one of the most impactful things you can do to make it easier to juggle multiple rental properties. The more uniform you can make procedures and processes, the easier it will be to stay organized. Be consistent in how you ask tenants to communicate with you. Whether you choose texting, emails, or some other form of communication doesn’t matter as long as you keep it the same across the board. That will make it harder for messages to fall through the cracks. Similarly, have a consistent method for paying rent. There are multiple options for collecting rent. Sticking with a consistent method will make it easier to keep track of who has paid and who hasn’t.
How Property Managers Can Juggle Multiple Rental Properties: Get Professional Help
Managing rental property repairs is one of the standard duties of a property manager. You can choose to make all the repairs yourself if you really want to, but that’s not always realistic. It’s a good idea to become familiar with reputable home service professionals that you can rely on when you need to. There are many benefits to leaving difficult tasks to professionals. If nothing else, you can be sure that the job will be done right the first time, using the right tools and equipment and backing it up with the knowledge and skills needed to complete the task.
How Property Managers Can Juggle Multiple Rental Properties: Maintain Good Tenant Relationships
It’s important to carefully screen your tenants, but it’s even more important to build good relationships with them, even the ones you don’t like. Tenants who feel comfortable and happy with their property managers are more likely to do their part to keep the property clean and in good shape. If they feel negatively towards you for whatever reason, they’re far less likely to be willing to reach out when there are problems and may be more inclined to pursue their solutions. That sounds like it could be a good way to reduce your workload, but consider that they may not opt for quality solutions which could end up costing you more time and effort down the road.
Managing multiple properties takes a lot of work. You can make juggling them easier by staying organized, getting professional help, and maintaining good relationships with the tenants. It’s not always going to be an easy job, but those tips can help make it easier than it would be otherwise, saving you a lot of headaches.
For more information on how you can manage property investments, become a member of the SWFL REIA today!
See you at a meeting soon!
The Southwest Florida Real Estate Investment Association is the leading source of SWFL real estate investing events that provide investment education and networking in southwest Florida. We analyze the housing market and foreclosures and provide information, education and networking events in order to build a network and knowledge base for investors and potential investors. Our members include real estate agent, brokers, investors, hedge fund managers, rehabbers, wholesalers and more.
Our SWFL REIA General Meeting is held in Fort Myers where we provide education on hot topics in investing and an opportunity to enjoy the camaraderie of your fellow investors. You’ll get a chance to ask for advice from successful real estate professionals and even make a few deals on your latest projects.
To become a member, anyone can register as an individual, a couple, or a corporation. Being a member opens the doors for endless networking opportunities, advice from members with decades of experience, new ideas from entrepreneurs, camaraderie with those just beginning, and deals and contracts done in the meeting room. For those interested in Cape Coral rental property investment and/or Fort Myers rental property investment, SWFL REIA will be able to provide a network to help launch a successful investment career.
The SWFL REIA is known and respected as a source of current, actionable and useful information about the housing market in the area that we meet.
We meet twice a month.
One of the premier sources for real estate investing networking and education is the SWFL REIA. In the real estate world, the SWFL REIA is different in that they do not do information product sales. Their meetings are focusing on the best ways of investing in real estate by collaborating with other property investors who are sharing their experiences.
We look forward to meeting you at a meeting soon!
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