In today’s episode Matt show us 3 simple tools that we can use to make property management easier. We begin by creating systems and standardizing materials that are most often used.
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The first example we’ll look at is the paint and paint colors you’re using in your rental properties. Instead of using a different color for each property that you mange. Always use the same color. This way when a tenant moves out or you need to go in and touch up the walls, you’re not wondering, “what color did I use for that unit?” “where did I store the paint cans for that unit”? By implementing this system you’ll never have to wonder what color, or where it’s at. It’ll all be the same, no matter which of your units needs attention.
The next item that we’ll look at is Landlord Locks. These are a major time saver and they also provide peace of mind. Landlord locks are a specially designed lock with a special master key that will allow you to change out lock cylinders quickly and efficiently. They also save you money over the long term because you can just switch locks around on the different properties that you manage.
The last tip is to have durable flooring. This means selecting a material like hardwood or vinyl tile and avoiding materials like carpet. You want to have floors that will be able to withstand a lot of wear and tear. Giving your floors treatments like polyurethane will help them last over the longer term. If you decide to put in carpet, just keep it to the bedrooms.
The goal is to make it simple and repeatable. By making these small adjustments you’ll be able to save money and time over the lifetime of maintaining that unit. In addition to systematizing your process, you make it easier when it’s time to turnover the unit from one tenant to another.
Other areas that you can standardize and systematize.
-Cabinet Finishes
-Light fixtures
-Video Surveillance Cameras
As always, please email us any real estate questions to HelpMe@DeRosaGroup.com and we will answer them on an upcoming episode!
Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com – https://www.biggerpockets.com/renewsblog/author/mattfaircloth/
Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast.
Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/