Landlords: What is your #1 time-saving system?

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Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes

As our portfolio grows, it's necessary to develop systems to handle the routine tasks. What is your favorite time-saving system that has allowed you to protect your time, maintain your sanity, save money, or continue growing?

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Wesley W.

Rental Property Investor · The Vampire State · Member since 2013 · 2k+ posts · 2k+ votes

(1) Email response templates to applicants in marketing funnel.

(2) Notice templates to tenants (notices to cure, 3 day, "reminder" violation letters).

(3) Rent collection only via tenant deposit into my bank accounts; email alerts for deposits for bookkeeping on my end.

(4) Exterior maps and instructions for lawn service and snow removal, since I go through those contractors like **** through a goose.

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Wesley W.
Rental Property Investor · The Vampire State · Member since 2013 · 2k+ posts · 2k+ votes
6y
(1) Email response templates to applicants in marketing funnel.

(2) Notice templates to tenants (notices to cure, 3 day, "reminder" violation letters).

(3) Rent collection only via tenant deposit into my bank accounts; email alerts for deposits for bookkeeping on my end.
(4) Exterior maps and instructions for lawn service and snow removal, since I go through those contractors like **** through a goose.
8 Reply
David Campbell
Investor · San Diego, CA · Member since 2017 · 190 posts · 117 votes
6y
@Nathan G.
Every landlord will have a lot but my favorite is automatic rent collection. There are many platforms that do this but essentially the tenant links his/her checking account to the platform and it automatically withdrawals the rent each month. Huge time saver and you know you will get you rent
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Nathan GesnerBusiness Member
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Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
6y
Originally posted by @Wesley W.:
(1) Email response templates to applicants in marketing funnel.

(2) Notice templates to tenants (notices to cure, 3 day, "reminder" violation letters).

(3) Rent collection only via tenant deposit into my bank accounts; email alerts for deposits for bookkeeping on my end.
(4) Exterior maps and instructions for lawn service and snow removal, since I go through those contractors like **** through a goose.

You can't have more than one favorite! ;)
Templates are crucial! I have templates for responses to common questions about paying rent late, adding a dog, adding/removing a tenant, late rent, noise violations, illegal parking, etc. It not only reduces the amount of time/effort required, it ensures a consistent response that is professional and unemotional.

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Nathan GesnerBusiness Member
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Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
6y
Originally posted by @David Campbell:
Every landlord will have a lot but my favorite is automatic rent collection. There are many platforms that do this but essentially the tenant links his/her checking account to the platform and it automatically withdrawals the rent each month. Huge time saver and you know you will get you rent

I imagine this is probably one of the most common. Thanks!

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James Wise
Real Estate Broker · Cleveland Dayton Cincinnati Toledo Columbus & Akron, OH · Member since 2013 · 30k+ posts · 20k+ votes
6y
Originally posted by @Nathan Gesner:
As our portfolio grows, it's necessary to develop systems to handle the routine tasks. What is your favorite time-saving system that has allowed you to protect your time, maintain your sanity, save money, or continue growing?

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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
6y
one of my older partners ( we bought foreclosures in ATL back in the day) and when that dried up he super sized his PM business 3k doors or so.

anyway he uses that code box thing so they don't have to physically show the units.. maybe its called Rently

now granted in some markets this would not work your house would be vandalized and stripped but in markets were your tenants are not as @James Wise describes tenants from hell.. he likes it saves a ton of time. And maybe that's not the name of it.. but just throwing that out there.
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Josue Vargas
Real Estate Agent · San Antonio, TX · Member since 2017 · 814 posts · 466 votes
6y
All properties under one web-based platform (screening, collecting, document handling, communication, etc).
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Nathan GesnerBusiness Member
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Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
6y
Originally posted by @Jay Hinrichs:
one of my older partners ( we bought foreclosures in ATL back in the day) and when that dried up he super sized his PM business 3k doors or so.

anyway he uses that code box thing so they don't have to physically show the units.. maybe its called Rently

now granted in some markets this would not work your house would be vandalized and stripped but in markets were your tenants are not as @James Wise describes tenants from hell.. he likes it saves a ton of time. And maybe that's not the name of it.. but just throwing that out there.

Rently, TenantTurner, and ShowMojo are the three I'm familiar with. Yes, it allows you to verify identity and then share a code so the applicant can view the home on their own. Major benefits include:
1. Frees up your time so you're not running around to showing appointments, especially for no-shows
2. Enables you to be more responsive to showing requests. No more checking your calendar!
3. After-hour showings are a breeze! Applicants can look at a property after the office closes or on weekends.
There are a couple risks.
- Someone views the home and accidentally leave it unlocked or leave some lights on. I recommend going by to check on properties every couple of days.
- Someone steals something
- The applicant squats in the home.
I know quite a few managers using these systems, usually in large cities where traveling is time-consuming. Despite the risks, they are having tremendous success and problems are extremely rare. These systems are not providing insurance to protect against theft, squatters, and other risks.
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Nathan GesnerBusiness Member
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Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
6y
Originally posted by @Josue Vargas:
All properties under one web-based platform (screening, collecting, document handling, communication, etc).

Definitely! Using a variety of apps can be difficult to track/manage.
On the other hand, the all-in-one solutions tend to do a mediocre job in many areas. For example, I use Propertyware which strives to be an all-in-one solution but their inspection software is so difficult to use that I opt to pay for a different system that is easier and more functional. Nothing is perfect.

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William Taylor
Member since 2019 · 16 posts · 10 votes
6y
@Josue Vargas what platform?
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
6y
Yes Nathan ergo my comment it would not work in all class of rentals.. And maybe you marry that with a ring video system to monitor if they decide to stay or steal something.
in some of the markets I have worked your houses would be stripped in a minute.. maybe not by the person who you let in but they would let the cousin know LOL..
I mean its the back bone of the MLS system and how agents sell houses.. the day of having to call the listing agent go to their office for a key then go show the home.. lock box's revolutionized real estate sales for sure. Same concept.
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Josue Vargas
Real Estate Agent · San Antonio, TX · Member since 2017 · 814 posts · 466 votes
6y
Originally posted by @William Taylor:
@Josue Vargas what platform?

I'm suing Cozy.co mainly for their $2.99/unit option for faster transactions. I have to tell you, I had some issues with tenants trying to report maintenance. What I also like is the ability for screening tenants, they pay directly for their backgrounds, I don't see any personal/sensitive information and reports come in within minutes. Also like the ability to write-off credits or debits in their accounts. Not perfect by any means, but so far I'm happy using it with fairly inexpensive options.

1 Reply
Mark F.
Rental Property Investor · Northern NJ · Member since 2019 · 672 posts · 677 votes
6y
@Josue Vargas You mean using and not suing correct? Was going to go with Cozy in the future.
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Josue Vargas
Real Estate Agent · San Antonio, TX · Member since 2017 · 814 posts · 466 votes
6y
Originally posted by @Mark F.:
@Josue Vargas You mean using and not suing correct? Was going to go with Cozy in the future.

Yeah... Using

0 Reply
Greg Moore
Rental Property Investor · Tampa, FL · Member since 2019 · 128 posts · 166 votes
6y
@Nathan G.
A great Property Manager!
5 Reply
David Flores
Rental Property Investor · Morgantown, WV · Member since 2016 · 235 posts · 135 votes
6y
@Nathan G.
1. Property management
2. Weekly call with prop management companies.
3. Fiver!!! This must be a millennial thing but i hire contractors from India on this site to cold call, find information on properties for me, trace phone numbers for me (all you need is the owners address from REI Pro), etc. If your not using fiver yet its a must! I pay one guy to make 100 phone calls for 20 dollars. 100 traces for 10 dollars. Find info on properties for 5 dollars a property. Seriously though fiver is a game changer that many investors dont talk about.
4. Networking with agents! Have listings come to you.
5 Reply
Jill F.
Investor · Akron, OH · Member since 2016 · 2k+ posts · 4k+ votes
6y
Buildium
2 Reply
Alan Mills
Flipper/Rehabber · CO (colorado) · Member since 2019 · 73 posts · 30 votes
6y
@David Campbell I was frustrated that two of my banks didn’t have methods in place to do automatic transfers from my tenants. So now I am just using Venmo to collect rents. I would appreciate ideas for ways to set up automatic debits from my tenants bank accounts.
3 Reply
David Campbell
Investor · San Diego, CA · Member since 2017 · 190 posts · 117 votes
6y
@Alan Mills
I have used (2) successful programs thus far:
1. Tenant Cloud: A property management software application which has the function for your tenants to auto pay the company, which is then seamlessly funneled to you.
2. Oddly enough, Zillow: they offer the exact same service
2 Reply
Alan Mills
Flipper/Rehabber · CO (colorado) · Member since 2019 · 73 posts · 30 votes
6y
@David Campbell thanks much
1 Reply
Tyler Jahnke
Rental Property Investor · Oakland, CA · Member since 2016 · 341 posts · 643 votes
6y
As I've gotten older, I've become more conscious of TIME. The world's most valuable asset.
I now focus more on the delegation of responsibilities, even if that meant less return $$$ for me. Now, I partner with experienced professionals that take on a majority of the responsibilities that I didn't traditionally enjoy or am even good at.
"Start with the end in mind."
I constantly think about what my ideal life looks like. Selfishly I want to make a lot of money, create multiple revenue streams that pay me consistently, and not have much personal day-to-day responsibility. So, even though I'm nowhere near my "ideal" life yet, I'm already starting to focus on ways to achieve that.
In a nutshell, what's my #1 time-saving system? Partnership and delegation.
2 Reply
Gaurav Mehta
New to Real Estate · San Jose, CA · Member since 2017 · 91 posts · 23 votes
6y
@Josue Vargas
What platform is that?
1 Reply
Allan Smith
Contractor · Nashville, TN · Member since 2014 · 1k+ posts · 1k+ votes
6y
My favorite might have to be customizing podio and lob.com to send eviction letters via certified mail with the click of a button.
3 Reply
Meryl McElwain
Contractor · Chicago, IL · Member since 2017 · 102 posts · 181 votes
6y
@Josue Vargas what platform is this?
1 Reply
Michael Noto
Real Estate Agent · Southington, CT · Member since 2008 · 5k+ posts · 3k+ votes
6y
@Nathan Gesner If you don't already develop some kind of pre move in checklist with all of the common issues tenants hit you with when they first move in and have someone from your company walk the vacancy after turnover and before the tenant gets the keys so you can maybe prevent a phone call or two very shortly after they move in. We implemented this within the last year and it has helped a lot.
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