When you own multiple investment properties, it can seem like a full time job managing all of your real estate assets, especially if you live far away from the properties you own.
From processing rental applications, collecting rent, maintenance requests, and more, managing your real estate investment properties requires attention, work, and expertise.
Many remote owners, foreign nationals, and international investors opt for hiring property management companies to manage their investments for them, since international investors don’t usually live close to their properties.
While hiring a property management company is a great idea, it can be costly.
The great news is that it’s never been easier to manage your own properties, thanks to a plethora of online property management tools that largely automate most of the work.
These remote and relatively easy tools make real estate investment much easier and help you either manage your property yourself, or only hire an assistant to manage them for you instead of hiring a firm.
While every property is different and how you manage your real estate investment portfolio may be unique, here are some of our favorite tools for managing your property remotely, so you can make the most out of your real estate investment even if you live far away.
1.Buildium: The All In One Tool
Buildium is an all in one property management software. It was built by property managers for property managers, so you can be sure that the features will be useful in remote property management.
Buildium is one of the most comprehensive apps out there, with features that help you control every aspect of your property such as:
- Managing leases
- Collecting rent
- Bookkeeping features
- Tenant screening
- Coordinating showings
The best part is that it integrates seamlessly with other useful apps, like Trulia and Zillow, so listing your properties is made even easier.
2.Keepe: Trusted Contractors For Repairs
Managing your properties is easy when everything goes smoothly.
When your property starts to need repair and maintenance, it can be tricky to find a contractor you can trust and coordinate with your tenants – all while you’re thousands of miles away.
Keepe connects you with a database of trusted contractors in your property’s area. The app will match you with a contractor, provide a quote and schedule the repair, all handled in the app directly.
Because all of the contractors are licensed and bonded, you can rest easy knowing they’ll get the job done. In addition, they guarantee arrival within a few hours of accepting the quote, which will keep your tenants happy.
3.Turbo Tenant: Free For Landlords
Turbo Tenant is a great solution if you only have a handful of residential properties to manage.
The biggest appeal is that the app is completely free for landlords. The app helps manage tenant applications, make background checks, and handle online payments – all at the expense of the tenant.
This is a great tool if you’re just starting to build your residential investment portfolio and are still trying to see if it’s possible to manage it yourself. Be advised though, as you scale and get more successful, you’ll likely grow out of the software that Turbo Tenant can provide. But it’s great for those new to real estate investment and are just building their investment portfolio.
4.Vivint: An Airbnb must have
If you’re investing in Airbnb properties, then a security system like Vivint is a must.
Vivint provides keyless access to your Airbnbs, so you don’t have to worry about keys being duplicated or lost. The code for unlocking the property can (and should) be changed after each visit, for maximum security.
Airbnb guests prefer staying in properties that have these security features, which means better reviews. As such, Vivint provides top of the line 24/7 security, so you can rest easy when your property is left unoccupied. For added security, their doorbell camera allows you to remotely verify and greet guests, ensuring that no one stays at your property that isn’t supposed to be there.
Investing in Real Estate Remotely
With remote property management becoming easier than ever before, now is a great time to grow your real estate investment portfolio even if you don’t live near your properties.
Community Capital Holdings is here to help you achieve your real estate goals. With over 120 years of combined experience in South Florida, we know the market better than anyone.
Our quick decisions, local connections, and asset based loans allow qualified real estate investors in Florida to get the financing needed in order to invest in non-homesteaded (rental and investment) property types such as:
- Commercial properties
- Office buildings
- Retail properties
- Single-Family and Multi-Family Homes (Investment only)
- Townhouses and Condos
- Apartment Complexes
- Special-Use Properties
- Warehouses and Industrial
- Construction projects
- Medical Office-Condos
To learn more about the state’s strong real estate market or investing in real estate here in Florida, contact us via email or by calling (954) 947-123