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June 12, 2017

Rental Properties Need Updated Too

Filed under: Uncategorized — admin @ 8:30 am

While I am not a part of a certified property management team, I am still able to use the same resources that some of them use for my own rental properties. I only have seven rental units, so I don’t have the need for a property management company to run them for me. I am the one who takes care of reading through applications, selecting the ones I want to live there, collecting their rent every month, and handling any maintenance issues that may come up. I used to do all of this the hard way, but I have learned a lot by using the same online resources that major apartment complex owners and managers use.

I used to go door to door the last week of the month to collect rent. I had been doing it in person since I acquired my first property nearly 30 years ago, but I realized that I was just making it harder on myself. It did not take me very long to set up on an online payment site for all the tenants to just pay that way. Just because I still write dozens of checks each month does not mean that Millennials do, and they were the bulk of my rental group.

I also learned how to make my property more attractive to them. I did not have to add on additions or anything quite that major. Just repainting some of the interior rooms a certain color, installing double locks on each door, and even throwing in an alarm system for each house has done wonders for me. I was able to up the rental cost to recover my costs, and I am finding that they are willing to pay because it is more to their liking than what I had before. Reading online sites for property managers has really helped me create a better environment for my renters as well as me.

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