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Updated almost 2 years ago on . Most recent reply

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Andrew Carlon
  • New to Real Estate
  • New York, NY
5
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Looking for Advice on self-managing mid-term rentals

Andrew Carlon
  • New to Real Estate
  • New York, NY
Posted

Hi folks! I was hoping to get some advice on a situation that I am in currently in. I own a single family in Round Rock (suburb just north of Austin) with a partner. It can be difficult to find property management willing to take on Rent by the Room models. The one property manager that we have found has been disappointing to say the least. Therefore, I am hoping that we can find a way to self manage.

1) We can add certain technologies to help make it more easy to monitor. Ring doorbells and electric locks that we can change remote. 
2) Post rental ads on our own whether that be manually or just through a software like Avail. This is a little bit of a niche market since it is rent by the room but I am sure we can get that figured out.
3) Find network of in-Austin contractors that would be needed for any specific plumbing, electric, etc. issues
4) Avail (or other software) can also be used in terms of collecting payments, security deposits, etc.
5) One downside is that we have to deal with client issues rather than having the proper manager as a buffer. I know this would not scale but it is only one property so it should not be an issue.

What am I missing?

I would love to hear anything that people would add here or more about specific products that they use.

Andy

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513
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Jamie Banks#2 Medium-Term Rentals Contributor
  • Real Estate Consultant
  • Reston, VA
511
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513
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Jamie Banks#2 Medium-Term Rentals Contributor
  • Real Estate Consultant
  • Reston, VA
Replied

You can get individual smart locks for each door so that guests have a specific code for their doors and then a separate code for the front door. The benefit of that is when it's time for guests to move out you can reset the code. 

I would also decide on your procedures for cleaning. Having a regular cleaning schedule would be good so that your cleaner can be the eyes at the property and report back anything that tenants haven't mentioned. 

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