Had a buyer s inspector ask when the roof was last replaced on a property I'm selling. I knew the rough year, but couldn't put my hands on an invoice or date to actually prove it. Ended up having to track down the old contractor's records, which took longer than it should have. Made me realize I'...
Property managers — quick question. What’s the most frustrating part of handling maintenance right now? Is it: Vendor coordination Tenant communication Keeping up with tickets inside AppFolio/Buildium Or something else I’ve been talking to a few operators and hearing the same issues come up, curi...
Every property manager needs to be managed. PMs are the most frustrating thing about the business, because even the best PM won’t be as effective as a skilled owner-operator. In a tight market where cashflow can be tough to come by, it’s the PM factor which puts most deals out of reach for invest...
I've been thinking a lot about how property owners and managers decide when to put a major project out for competitive bid versus when they just call "their guy." We all have vendors we trust. The handyman who knows your buildings. The HVAC tech who answers at 10 PM. That relationship has real va...
Tenant just gave notice on one of my units and I'm realizing my turnover checklist is basically all cosmetic: paint touch ups, deep clean, check the appliances work. Nothing on it actually looks at how old anything is. feels like the gap between tenants is the one time you can actually get eyes o...
Hey BP, I own a rental property out of state (I'm based in California) and I'm considering dropping my property manager and self-managing remotely. Before I make the switch, I'd love to hear from people who are actually doing this. A few things I'm trying to figure out: - Software/systems — What ...
I’m curious how this works in real life. Say you send a plumber or handyman out during a turnover, and once they’re there they find something else that needs to be fixed. The cost is now above what you’re allowed to approve, the owner isn’t answering, and the vendor needs an answer or payment bef...
Had a conversation with another landlord last week who doesn't reserve for anything, just keeps cash on hand and handles repairs as they come up. Works fine for him, three properties, healthy cash position. Made me think about when that approach actually breaks down. for me it stopped working aro...
So, I used to do everything on a spreadsheet, and I got kind of old. Any ideas for record keeping or anything? I was able to test a managing app, does anybody have anything comparable?
What's One Process Every New Landlord Should Put in Place Immediately? If you could give one operational tip to someone buying their first rental, what would it be?
As investors scale, property management gets more complex. I’m seeing better results when funding strategies and property management planning happen together early. How are others preparing for operational stress when growing beyond 10+ units?
Hi! To all my commercial property owners, what app/service do you like best for rent collection? And why?
I use both platforms currently at varying degrees. But have not had the chance to really test both side by side. Can anyone give their experience in using both and what they prefer and why.
Quick question for landlords who self-manage. I’m curious what other landlords are dealing with right now. What part of managing rentals takes up the most time for you? • collecting rent from tenants • chasing late payments • maintenance requests and repairs • tenant communication • bookkeeping /...
Software recommendations to run RV park (11 spots) and manage 12 single-family home rentals. Software that's hopefully secure, easy to use and cost-effective. Financial: Help with collecting and tracking rents that have been paid. Integrates/compatible with Quickbooks Desktop. Advertising to simp...
At What Portfolio Size Did Systems Become More Important Than Acquisitions? Many investors eventually hit a point where operational efficiency becomes the priority. When did that happen for you?
Most advice about maintenance reserves assumes you've owned the property since day one and know exactly when everything was installed.But if you bought something with an unclear history, inspection report is vague, seller "doesn't remember" when the roof was done, how do you set your starting res...
Curious how granular people actually get with this. Some of the replies on my last thread here got me thinking. A few people track age and remaining life per system (roof, HVAC, water heater, etc.) and set aside a specific amount for each one. Others seem to just keep one general "maintenance/rep...
My property manager charges 10% markup fee for all service calls. So a $250 plumbing call turns into a $275 call. Does that sound crazy or normal? I already pay them a management fee, you'd think that would be included in that but maybe I'm wrong? I pay 7% management fee or $55 a door whichever i...
Hi - I am looking to purchase my second rental property. Due to a previous not-so-good experience working with a property management company for my first out-of-state rental, I am very cautious about who I work with next. I want to get the community's help in finding a solid property manager you ...
Are tenants typically the ones to pay for all of the following: water, sewer, garbage, gas, and electric? If any of these are the landlords responsibility, do they add that to the amount of rent they charge or is it not enough of an expense for it to matter?
I am wanting to enter the REI world but will not have time or skills to self manage. Looking for a property manager and think I have found one but wanted to make sure his fees are in line with the norm: 9% of all rent collected. $100 placement fee when securing a new tenant. 10% markup on all ven...
Bought a duplex last year where the previous owner kept zero records. No idea when the roof was done, how old the water heater actually is, nothing. I had to walk the property with a flashlight and guess based on wear patterns and model stickers. Curious how other people handle this. Do you just ...
Hello all! Aspiring investor here, very close to pulling the trigger on my first deal for a long term rental investment. I would prefer to manage the property myself and would love any recommendations on software or resources you use for collecting rent, background checks, etc etc. TIA
Hey BP community! I’m looking to get honest feedback from fellow landlords especially those managing small portfolios (1–20 units). I’d love to know: What property management software do you currently use? What do you like most about it? What do you wish it did better? Have you tried any others a...