Creating a Stress-Free Rental Portfolio
SOFTWARE The use of technology helps create more time through automations, record keeping, task management and com- pleting entire processes within one platform. We utilize AppFolio for around 80 percent of daily tasks. We recent- ly started using Monday.com to track a few projects and timelines. This has allowed us to scale without having to add extra labor. Tenants do their applications through here, rent payments, maintenance requests, etc. We also can text and email through the system directly to create a funnel for communication between tenants and team members. We would likely be capped at about a fourth of our size if we did not have a great software to work with. Find one that works for you, in a price range you agree with, and learn it well. They often say the best software, is the one you will actually use. COMMUNICATION TOOLS For communications to tenants, we generally use the texting function within our software or email. For docu- mentation purposes we prefer to have as much written communication as possible. We have a live, outsourced person that answers calls into the company and docu- ments the messages while passing them along to the team member and use CallRail to create numbers as a pass through for outgoing calls. For internal team communications, we use HelpScout, which allows us to manage emails within one platform so if someone goes
EFFECTIVE PROPERTY MANAGEMENT OPERATIONS
by Jeremy Kloter
s investors, we enjoy the thought of reaping the benefits of passive income, thus many of us look to
rental properties when considering our options. Utiliz- ing leverage to acquire properties can allow us to enter the market with a relatively low capital output. Although, there is a difference between passive income and being actively engaged in those activities. Whether you are self-managing your rental properties, or you have hired a company to manage them for you, here are a few tips that have allowed us to run an effec- tive company. Knowing how your management company operates can give you clearer expectations and context when dealing with them.
22 | think realty magazine :: september 2021
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