In this episode, our hosts tell us about their experience managing their properties in-house. They used to outsource their property management, but learned that it is best for it to be done within their own company.
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This Episode is Sponsored by
Core Rentals offers full service, residential property management in Columbus, Ohio and surrounding areas. They are equipped to handle single-family and multi-family homes. Visit CoreRentalsOhio.com today to have the day-to-day operations of your rental property handled by professionals.
- Why property should be managed in-house.
- Using software to streamline the process.
- Lease agreements that protect both tenants and the company.
- Dealing with maintenance requests.
01:02 – Recent goings on.
- Hiring a new employee and growing the company.
- Creating process manuals.
03:40 – Managing property in-house.
- How the guys quickly learned that a former property manager was not up to their standards.
05:32 – Software that the guys use to manage property.
- The wide array of features that the software has.
- Add-ons available for the software.
- Getting leads through the software and other avenues.
- The scoring sheet that the guys use to screen tenants.
11:20 – The lease agreement.
- A recent incident involving a leak.
- Various conditions included in the lease for both the tenant and the guys.
- The checklist that Brian and John give new tenants when moving in.
16:17 – Processing maintenance requests.
- The flow of events when receiving maintenance requests.
- Expensive problems with drains that the guys have encountered.
- Seasonal planning.
21:39 – Quarterly inspections.
- Advantages of doing regular inspections.
- How a quarterly inspection led to a swift eviction.
- There are many advantages to managing your own property.
- Have a solid lease agreement in place.
- Inspect your properties regularly to avoid costly repairs.
“We’ll bring an iPad that has an application…they can fill out an application at the showing if they’re interested.” (Tweet This!)