Setting up my 1st Rental, New Orleans SFH

[Cornelius Jamison]

I recently closed on my first rental property! A new build SFH in New Orleans, Gert Town near Xavier Univ. I am thrilled to have been able to purchase this property and ready to make it a success. I'm getting the property ready for listing and have a few questions:

- Thoughts on good property management tools that would allow me to list, send lease agreements, receive rent payments? I have seen Innago, Zillow, TurboTenant, etc.

- Purchasing washer/dryer? The home came with all other new appliances (fridge, stove, dishwasher). Do most owners put in W/Ds or let the tenant bring their own. The hookups are on the 2nd floor so I have some concerns about the tenant installing them and possibly damaging the property.

- Purchasing security like ADT and or getting smart locks? Any thoughts or recommendations. 

All your expertise is much appreciated in advance, 

Cornelius

[Mike Wood]

@Cornelius Jamison  In NOLA, most tenant do not bring there own washer/dryers.  If you include them, you can charge more rent.  Given what you have said, I would provide them.

I would check out apartments.com for tenant management.  It used to be Cozy.co before the parent company of apartments.com purchased them.

I would not waste money on security systems.  Why spend your money on it, that will only reduce your profit.  If you tenant asks about putting in a security system, let them on their expense.  I have 12 units, get lots of questions about tenants installing a security system, which I allow.  How many tenants have installed security system in the apartment, only one (1).  

Same with smart locks.  I can only imagine how many calls you would get asking to be bring keys to let a tenant in because the battery is dead in a smart lock or some other issue (and I have smart locks on my personal home, just none of my rentals).