The coming New Year is a great time to take time to reflect on your investment properties and see what can be done to ensure next year successful for your rentals. We have put together questions to ask yourself regarding your rental properties. Make a commitment to learning how to better manage your rentals so you can earn more rental income next year. We have many blogs on rental management and our Concierge Team is always happy to help.
If your rentals are not professionally managed, the first question you must ask yourself is: Should I hire a Property Manager?
- Property Management requires a large commitment of time and effort.
- We have written two blogs about the benefits of hiring Property Managers. You can read them here and here.
If your rentals are on the mainland and you want to hire a Property Manager, we know realtors across the country and would be happy to refer you to someone.
If you want to continue managing your rentals yourself:
- Evaluate your system:
- How can I be more organized and efficient?
- If you haven’t started using a digital system to manage your rentals, it’s time to upgrade
- Do I need a better way of collecting rent and deposits and general rental finance management?
- Do I need a better way to screen applicants?
- Do I need a better way to market your rentals so that vacancies are filled more quickly?
- How can I be more organized and efficient?
- Do a maintenance check on the properties:
- What needs to be upgraded?
- What needs to be repaired?
- Are any weather/season related things taken care of?
- Do I have the proper vendors for all maintenance tasks?
- Do I have good relationships with my tenants?
- Should I send a holiday card and birthday card?
- Are there tenants I need to thank for referrals?
- Are there tenants I need to have tough conversations with?
- Is communication with tenants done easily?
- Do they have an easy way to submit maintenance requests?
- Do they have an easy way to reach me?
For more information about the Concierge Property Management Services at Caron B Realty, please call Doug Davis at (808) 596-4883 or email concierge@caronb.com