Need advice on managing some rehab from out of town

3 Replies

Hi everyone, 

We are closing on a property in another city in about two weeks. I have referrals for good handyman and skilled tradespeople. My question is how do you handle letting them into the property? Do you put a lockbox on the door? I know this seems silly. Thanks

Hi, Hillary. I have 2x long-distance properties and have had to do this twice now.

I had included in my deal with my agent that I would pay him a $2500 bonus after the rehab was completed following the closing and the first tenants moved in. As a part of that deal, I had him agree that he'd do a walkthrough of the project once at the mid-point and again at the end.

You may have already closed, but you could still consider asking your agent what she or he feels is a fair price to do this. You could also make the same offer to your property manager.

Good luck!

@Hillary Windrem we flip exclusively remotely and the biggest challenges has been accountability and processes. We also install a security system which helps track when they come in and go. Not sure if you have a project manager or someone stopping in and looking in on the property. We also use a CompanyCam software (free for one user) to have someone (in our case our Operations Mgr though have used our realtor in the past) take pictures weekly as well. Happy to share any insight we've learned.