Episode 15: Part 2, Developing Your Office Operations and Business Team

Listen On:

Welcome to the second part of our two-part series all about creating your rental property team.   If you missed last week where we chat about our maintenance contacts and who we depend on in our field operations, please give episode 14 a listen!

This episode discusses our business contacts who we depend on in our office operations.

Both Kevin and I have business degrees, but they don’t mean anything if we try to DIY it all and don’t realize when its best to hand business operations off to the professionals. 

We rely on a few professionals that have walked us through THE MOST IMPORTANT aspects of our business.

We are sure you can guess our CPA and our attorney but give it a listen to find out who else is essential to our team and building our success as rental property owners!

Lastly, we briefly discuss the software we rely on and a few we are looking into to continue to streamline our business practices.

LINKS:

TurboTenant is a great option for landlords with just a few doors or for those who may be new to using rental property software. 

For the most part, TurboTenant’s software is free to use so they are perfect for those on a tight budget.

With a very minimal monthly fee, landlords can upgrade to have such items as all landlord forms, leases, and addendums included as well as accelerated marketing, rent deposits, and customer service assistance on TurboTenant.

Hemlane is a software that is built to grow with your needs as a landlord.

For a minimal amount, you get a really good basic package but what we love is that you can upgrade to add 24/7 maintenance management on to your package.  Your tenants then have a contact number to reach out to and Hemlane will then contact YOUR maintenance people specified and get the job done.

It gets better!  If you reach a place where you are ready to hand off management to a property manager, Hemlane has that too under their “Complete” option.

Doorloop is relatively new to the landlord software space but they are global and can handle any property in any country and with any currency.

Where their features are similar to the others, from a tech standpoint, Doorloop is top notch.

It’s extremely modern and intuitive.

There are help pop-ups all through the dashboard if needed, it’s fully customizable, there are reporting templates, and they are optimized for mobile devices and tablets. 

Doorloop has thousands of apps which can be integrated with their software like google docs, accounting software, etc. so that you don’t have to perform double entries.  One of them being Quickbooks which was a huge plus for us!

Quickbooks is our go to software for accounting and bookkeeping.  Using QuickBooks allows us to do a deeper dive into analysis and evaluate income and expenses. 

We can segment these income and expenses by property and even down to the unit which is really nice OR we can see an overall picture of how we are doing with all properties combined.

We especially like that Quickbooks has a mobile app for us to accept payments on the go.  This makes taking in person application fees and security deposits VERY convenient.

Bigger Pockets is a great free resource for real estate investors.  They have created a huge community and their site is filled with educational forums, blogs, and podcasts all about the investing side of rental property investments.  Click HERE to learn more.

AAOA: Every rental property owner needs a landlord association. At American Apartment Owners Association (AAOA), their mission is to serve the interests of landlords, real estate brokers, property managers, real estate owners and apartment building owners nationally for FREE.
Rental property management can be very demanding. Their job is to make this day-to-day property management process smoother. We take pride in offering comprehensive landlord help so you can attain your goals.
For a fee, the American Apartment Owners Association provides a range of features from tenant screening services and tenant background checks to landlord rental application forms and apartment financing.

They also provide full access to over 120,000 local contractors nationwide. These resources and more, including tenant background check, tenant eviction reports, and debt collection services, are provided to landlords, property managers, and investors.

Want the podcast link emailed to you weekly? Subscribe to our FREE newsletter, Landlord Weekly!

▪️Landlord Tips ▪️ Early Access to Our Blogs ▪️ Landlord Specific Articles by Other Industry Pro’s ▪️Podcast Links