Workflow for remote property mgmt w/o a professional PM
Hi amazing BP members- Hope you all are doing great. I haven't been able to find a single decent property management company in my market and I have been looking for months. No responses, lack of professionalism etc etc. I have 8 properties(4 duplexes) now in B hood with great schools (9,7,7) and will continue to expand. I live 90 mins drive from the area and work full time.
So decided to put my own system in place.
Have two requests for input
1) Call out for gaps in my current or desired setup ( think asset protection, taxes, liability, efficiency and long term thinking perspective). Setup -> Have properties in separate LLCs and all the LLCs are disregarded under a holding LLC. Started a property management LLC recently to communicate with all the tenants/prospective tenants and be the front. Will post on Zillow for vacancies and have an agent arrangement to show the vacant units since I am not there in person. PM LLC does not have any insurance on it(Do I need one?) and my name is on emails, listings (Do I need an alias here). Tenants will pay through an online portal. Still trying to figure out how to get a handyman/contractor on service.
2) Would love to know what innovative strategies other people are implementing for remote self property management
Thank you so much!