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

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

Nathan GesnerBusiness Member
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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
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.

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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 @Allan Smith:

    My favorite might have to be customizing podio and lob.com to send eviction letters via certified mail with the click of a button.

    Can you share how to set that up?

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  • David Mathews
    Lake Charles, LA · Member since 2016 · 99 posts · 54 votes
    6y

    @Nathan G.

    Great thread idea! I'm following. I would love a better way of doing taxes and receipts than just letting them pile up in my truck console then plugging them into a spreadsheet when I find the time. Usually at the end of the year.

    1Reply
  • Nathan GesnerBusiness Member
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    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    6y
    Originally posted by @David Mathews:

    @Nathan G.

    Great thread idea! I'm following. I would love a better way of doing taxes and receipts than just letting them pile up in my truck console then plugging them into a spreadsheet when I find the time. Usually at the end of the year.

    I think the best thing you could do is to regularly practice discipline. you don't like to do it, so you allow it to sit until the last minute and then it becomes a real overwhelming chore. It would be much easier to accomplish if you did this every month, a little bit at a time. This protects you from losing the receipts, forgetting details, or forgetting your processes. The more regularly you work at it, the better you will become into the easier it will be to develop processes to help you.

    beyond that, is there something specific you are having a hard time with? Do you need a system for filing the receipts?

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  • Josue Vargas
    Real Estate Agent · San Antonio, TX · Member since 2017 · 814 posts · 466 votes
    6y

    @Meryl McElwain

    Platform, web-based app, etc., not sure how to call it. Its a company providing services for Landlords/Tenants. Try typing Cozy.co (not Cozy.com) in your Internet browser, it should get you there. They also have videos and information to show how it works. Free for Landlords, Tenants pay a small % to Cozy for those paying rent with credit cards, its free for tenants paying via ACH/EFT. I'm not affiliated with them in any way. I use them and find very useful for the amount of properties I have and my needs.

    Hope this help.

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  • David Mathews
    Lake Charles, LA · Member since 2016 · 99 posts · 54 votes
    6y

    @Nathan G.

    I dont know of any specific apps or programs to use but I've heard they exist. Possibly something that you can use to take a snapshot of the receipt with your phone and you can file it away that simple at the time of purchase. I'm not sure but what U do know is it's the 1st of the year and a perfect time to get a handle on things. And you're certainly right about discipline!

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  • Kevin McGuirePro Member
    CTO of BiggerPockets · Seattle, WA · Member since 2019 · 178 posts · 178 votes
    6y

    @David Mathews For expense tracking, Expensify works well. You capture it with your phone and it can fill in the details automatically. Get in the habit of scanning the receipt immediately and you can then toss it. At year end you have them all recorded, with scans, for taxes.

    2Reply
  • Soh Tanaka
    Property Manager · Lindenhurst, IL · Member since 2016 · 854 posts · 506 votes
    6y

    I'm not saying this because I'm a property manager, but, in a way, hiring a good property manager can save you a lot of time. I do hire good property managers, and it makes a huge difference. I don't want to own any rentals without a good property manager, at least when it comes to out of state.

    I know the above is NOT what @Nathan Gesner is asking as he is the property manager. I started using process.st lately, in addition to a property management software, and it's making a big difference. We all want to just use one platform/app, but that doesn't exist (yet.) 

    1Reply
  • Matt M.
    Dallas, TX · Member since 2017 · 16 posts · 7 votes
    6y

    @Alan Mills I use zelle

    1Reply
  • Anthony Vicino
    Investor · Minneapolis, MN · Member since 2017 · 95 posts · 130 votes
    6y

    My favorite so far was creating a Tenant Pre-Approval Screening process through Google Forms. Now when we have vacancies, I don't have to spend hours on the phone pre-screening countless individuals. I just send them a link and if they meet all the basic requirements, they get another link to schedule a tour.

    It's fantastic, 'cause the only people I interact with have already prescreened and scheduled themselves. 

    3Reply
  • Alan Mills
    Flipper/Rehabber · CO (colorado) · Member since 2019 · 73 posts · 30 votes
    6y

    @Matt M. Yes, I use Zelle too, but only for tenants who have the option with their bank. Or is it possible to set up a Zelle account for tenants whose bank doesn’t offer the option?

    1Reply
  • Adam Wigdorski
    Rental Property Investor · NY · Member since 2017 · 132 posts · 90 votes
    6y

    @Nathan G.

    Two parts

    Master key system.

    I have one key for every main entrance and each unit. 1 key is way better than 10+

    Mechanical screw to the side of the house lock boxes.

    1 per unit and 1 for myself and people I send to do mx and repairs

    For the unit lock box I give just that unit the code and explain to them that if they come home hammered and can’t find their keys I’m not coming to let them in. So in each unit box is 1 common entrance key and unit specific entrance key. It’s up to them to put back if they use it.

    For my lock box I have 1 common entrance key and 1 per unit.

    So example. I was in the outer banks and my tenants at one place said the fridge finally died as the freezer. The same week I had another unit call me to say the toilet finally took a crap literally.

    So i called my local appliance company and ordered a new fridge to installed next day and paid over the phone. Tenants were not going to be home so I have them the code and they installed.

    Same with plumber. He changed the toilet out and some minor piping.

    All this was done while I was sitting on the beach drinking some Tito’s and tonic.

    I’d say my third favorite system is electronic rent collection with cozy. I set back and collect. If they are late cozy auto fees them.

    4th. Even though I live within almost walking distance of my properties it’s stated in my lease that all mx request are to be done via email . It also states that without photos and a video request will not be answered.

    Then I just refer to my first favorite system and send over my people and give them the code.

    2Reply
  • Laurence Jankelow
    Rental Property Investor · Chicago, IL · Member since 2019 · 4 posts · 4 votes
    6y

    I think the biggest time saver for me has just been to ask my tenants to be home to let contractors in when there are maintenance issues. Until last year, I'd try be on site, and hang out at the Starbucks down the street during the normal "window" of waiting. I felt guilty about asking the tenants to be home, but then I realized, they're "home" and in comfort while they wait. Small psychological change, and it's been a huge saver. And the tenants don't mind at all. 

    Just doing this will save you more time than any software. But if you're not using software for your tenants to pay their rent online, then I'd recommend using a service like Avail.co (I am affiliated) or Cozy.co (I am not affiliated). 

    2Reply
  • Nathan GesnerBusiness Member
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    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    6y
    Originally posted by @Laurence Jankelow:

    I think the biggest time saver for me has just been to ask my tenants to be home to let contractors in when there are maintenance issues. Until last year, I'd try be on site, and hang out at the Starbucks down the street during the normal "window" of waiting. I felt guilty about asking the tenants to be home, but then I realized, they're "home" and in comfort while they wait. Small psychological change, and it's been a huge saver. And the tenants don't mind at all. 

    Just doing this will save you more time than any software. But if you're not using software for your tenants to pay their rent online, then I'd recommend using a service like Avail.co (I am affiliated) or Cozy.co (I am not affiliated). 

    Good tip. We actually put the contractor in touch with the tenant and let them schedule a time. If the tenant wants to leave the door open or give the contractor a key and let them go in alone, that's between them. And if the tenant misses the appointed time, they pay any associated trip charge. I have hundreds of maintenance requests every year and never meet the contractor.

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  • Allan Smith
    Contractor · Nashville, TN · Member since 2014 · 1k+ posts · 1k+ votes
    6y

    @Nathan Gesner Here's how I send eviction notices via certified mail with the click of 2 buttons.

    1. I have an app in Podio with tenant information. When the 6th rolls around with no rent, I type into two fields the amount they owe and the date it's due (this could be automatically calculated and sent if podio was integrated with receiving payments).
    2. Another field in podio is for generating a PDF. I programmed the PDF template in globiflow, so it basically mail merges in the data for this tenant, like name and address.
    3. The 2nd click is the next field down, which gives me the option to mail via certified and email, or just email. Globiflow sends the email with the notice PDF as an attachment.
    4. If I go the certified route, Zapier.com grabs the update event and sends the pdf to LOB.COM. Lob prints it and drops it in the mail. To get tracking numbers, etc, I have to log into lob.com later on.
    0Reply
  • Nathan GesnerBusiness Member
    Moderator
    OP
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    6y
    Originally posted by @Allan Smith:

    @Nathan Gesner Here's how I send eviction notices via certified mail with the click of 2 buttons.

    1. I have an app in Podio with tenant information. When the 6th rolls around with no rent, I type into two fields the amount they owe and the date it's due (this could be automatically calculated and sent if podio was integrated with receiving payments).
    2. Another field in podio is for generating a PDF. I programmed the PDF template in globiflow, so it basically mail merges in the data for this tenant, like name and address.
    3. The 2nd click is the next field down, which gives me the option to mail via certified and email, or just email. Globiflow sends the email with the notice PDF as an attachment.
    4. If I go the certified route, Zapier.com grabs the update event and sends the pdf to LOB.COM. Lob prints it and drops it in the mail. To get tracking numbers, etc, I have to log into lob.com later on.

     I've never heard of lob.com. Thanks for the tip!

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  • Chinmay J.
    Investor · Northern, VA · Member since 2016 · 1k+ posts · 904 votes
    6y
    Originally posted by @David Campbell:

    @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

    Only as good at them  having enough money in their account.  Tenants who don't want to pay will simply close out the account, and open a new one.. They will even have excuse ready for you as to why they had to do so. 

    0Reply
  • Ola Dantis
    Multifamily Syndicator · Houston, TX · Member since 2016 · 1k+ posts · 2k+ votes
    6y

    @Nathan Gesner 

    In the front end, I like Zillow Rental Manager, I know Zillow would start charging but I love the Background Check and Credit Check part of the tenant application. 

    I also like TenantCloud for ongoing tenant management because it saves us time from constant calls. 

    3Reply
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