It’s a common belief that property investment and traveling go together about as well as oil and water. How could one person manage to renovate, rent, and then manage property when you’re globe trotting? Well, impossible as it may seem – there is a way!
Instead of digging into drywall and dust for weeks on end, you can manage properties from anywhere in the world, and RentMoola has layed out how. Building a team that you trust can be broken down in 3 basic principles.
Constant communication is key for contractors. Sending photos and text messages every step of the way alleviates the breakdown of plans. Also finding contractors that fit your budget (yes they exist!) and who will maximize the return on the final project. If you’re able to find a contractor that fits those requirements, you may never even have to set food on your property while renovation is in progress.
2. Property Management
Middle men take a lot of the burden off of your shoulders when owning property. Interviews can be done over the phone, and signatures can be obtained online easily enough, so that wherever you are, and wherever your property is, nothing is lost in communication.
Property Managers can do all of the necessary upkeep of the property, making sure that everything is in working order, and sending photos to confirm that all of the necessary repairs have been done to a certain standard. It may seem like a lot to ask for photo documentation for these types of situations, but if you’re somewhere on the other side of the world, it’s the most reliable way to know that your units are taken care of.
3. Get Tech Savvy
Online systems for collecting rent, deposits and monthly payments like parking and storage can be done with companies like RentMoola. This is a secure and fast way to make sure funds are going to the right places, on time. Allowing all transactions to be taken care of electronically is the most fail-proof way of making sure your funds are accounted for. Additionally, it acts as incentive for Property Managers/Landlords to attract and retain tenants with its rewarding and hassle free platform.
Are you a property manager? Sign up now to start accepting online rent payments for free: rentmoola.com/managers