How To Manage Your Rental Properties While You Are On Vacation
As a rental property owner, it's important to be able to take care of your investment even when you're not there. Here are some tips on how to manage your rental properties while you're away on vacation.
1. First, make sure you have a reliable property management company in place. They will be the ones taking care of everything while you're gone, so you need to make sure they are up for the task.
2. Next, set up an online payment system for your tenants. This will make it easy for them to pay rent while you're away.
3. Make sure you have a good insurance policy in place. This will protect your investment in case something goes wrong while you're away.
4. Finally, stay in communication with your property management company. Check in with them regularly to make sure everything is going smoothly.
By following these tips, you can rest assured that your rental properties will be in good hands even when you're not there. So go ahead and enjoy your vacation! How to manage your rental properties while you are on vacation.
So today's video, as you can see, is coming from Orlando, Florida. We have been vacationing here for a couple weeks. And I thought I would tell you guys a little bit about how I manage some of my properties when I'm on vacation. So I have some properties that I hand out to a property manager, and I know that they're doing a pretty good job with my properties. Some of the properties, I choose to manage them myself. Now some of the little shortcuts that I like to do when I'm going away on holidays are the following. One, I just wanna let the tenants know that I'm going to be away for a few days, and any requests that they might make will not be attended to on an urgent basis. I also provide them with an additional contact. Perhaps it's a staff member, or maybe it's a friend, or maybe it's other owners that are willing to sub in for me and take care of a request if I have something. Okay, so I let them know that. I also let them know that, I re-remind them, this is something that they already know, but if it's a water issue that they're not to call, they call the plumber directly. They have the authority to make that decision, call the plumber, have the toilet fixed or the faucet, whatever it might be, and then send me the bill right after. So this is already pre-set up. If it's a fire, which happens to be the other big emergency, call 911. Anything else, a loose doorknob or whatever it might be, these are not urgent requests and they could probably wait until I get back, right. So this is some of the things that I like to set up. The other thing that I will do if I happen to be traveling during the first of the month when the rent is due, I ensure, you have to ensure that you have post-dated checks in hand before you go on vacation so you can mobile deposit them. That's one of the things, or have the checks with an associate or a friend again who is willing to make those deposits on your behalf while you are away. Make the necessary arrangements with the bank. You can sometimes drop off these checks at the bank and they will cash them for you on the provided day. If it's e-transfers that are set up, again remind the tenants to get these over to you on time. Okay, hope this has been helpful. I'm off, over there. Talk to you guys in a bit. We've got some valuable insight after this one.
As a rental property owner, it's important to be able to take care of your investment even when you're not there. Here are some tips on how to manage your rental properties while you're away on vacation.
1. First, make sure you have a reliable property management company in place. They will be the ones taking care of everything while you're gone, so you need to make sure they are up for the task.
2. Next, set up an online payment system for your tenants. This will make it easy for them to pay rent while you're away.
3. Make sure you have a good insurance policy in place. This will protect your investment in case something goes wrong while you're away.
4. Finally, stay in communication with your property management company. Check in with them regularly to make sure everything is going smoothly.
By following these tips, you can rest assured that your rental properties will be in good hands even when you're not there. So go ahead and enjoy your vacation! How to manage your rental properties while you are on vacation.
So today's video, as you can see, is coming from Orlando, Florida. We have been vacationing here for a couple weeks. And I thought I would tell you guys a little bit about how I manage some of my properties when I'm on vacation. So I have some properties that I hand out to a property manager, and I know that they're doing a pretty good job with my properties. Some of the properties, I choose to manage them myself. Now some of the little shortcuts that I like to do when I'm going away on holidays are the following. One, I just wanna let the tenants know that I'm going to be away for a few days, and any requests that they might make will not be attended to on an urgent basis. I also provide them with an additional contact. Perhaps it's a staff member, or maybe it's a friend, or maybe it's other owners that are willing to sub in for me and take care of a request if I have something. Okay, so I let them know that. I also let them know that, I re-remind them, this is something that they already know, but if it's a water issue that they're not to call, they call the plumber directly. They have the authority to make that decision, call the plumber, have the toilet fixed or the faucet, whatever it might be, and then send me the bill right after. So this is already pre-set up. If it's a fire, which happens to be the other big emergency, call 911. Anything else, a loose doorknob or whatever it might be, these are not urgent requests and they could probably wait until I get back, right. So this is some of the things that I like to set up. The other thing that I will do if I happen to be traveling during the first of the month when the rent is due, I ensure, you have to ensure that you have post-dated checks in hand before you go on vacation so you can mobile deposit them. That's one of the things, or have the checks with an associate or a friend again who is willing to make those deposits on your behalf while you are away. Make the necessary arrangements with the bank. You can sometimes drop off these checks at the bank and they will cash them for you on the provided day. If it's e-transfers that are set up, again remind the tenants to get these over to you on time. Okay, hope this has been helpful. I'm off, over there. Talk to you guys in a bit. We've got some valuable insight after this one.
