Systems!

[Mark Douglas]

I keep hearing about the importance of having defined processes/procedures/methods in place for XYZ in your real estate business.  I've only got two units so far, and I'd love to hear from you all about what's worked/not worked for your business, whether it's PM software, ways to pay vendors, keeping track of expenses, handling the accounting, etc. 

What have you found to be the most/least helpful in scaling and maintaining your business functionality?

[JD Martin]

Electronic rent payment. Standardized leases. Standardized colors/finishes. Info sheets for all properties. Summertime lease expiration. Pay for everything with the same credit card. Finding and using the same contractors for maintenance/repair/installs.  

Least helpful: having 8 million keys. Eventually I am going to switch to the landlordlocks system.