As a property investor, you already know how much work is involved in owning and managing just one rental property. Once your property portfolio grows, you might start asking how to manage multiple rental properties.
A couple of issues start popping up once you own multiple rental properties: finding multiple tenants for multiple vacant properties; communicating with those tenants; doing more property maintenance; conducting even more routine inspections; so on and so forth.
On top of a full-time job, it becomes a tough gig. At that point, many owners ask themselves "how do I manage multiple rental properties?"
You're faced with a few options:
- Become a full-time DIY landlord: Some don't need to, but others quit their job to make time to manage their rental properties.
- Use a property manager for each property: Many want a local agent to have the benefit of local expertise. That means hiring one local property manager for each rental property.
- Use one property manager for all properties: This makes communication easier, but each property might not receive the level of attention you'd expect.
But, with the use of technology in property management, we've found a new solution for owners with multiple rental properties. Through our team-based approach to property management, we keep communication simple.
We'll explain more about what this means for you as a multi-property owner in this article.
How our tech helps you streamline all your rental properties
Owning multiple rental properties usually means that you have to do everything multiple times with multiple people.
It's hard enough as it is, but remembering who said what and what they said is even harder. Record-keeping is probably one of the biggest issues you'll face.
So, how do you manage multiple rental properties?
At :Different we have a tech-driven approach to property management. Our Owner App was built to offer a smarter solution that helped keep everything related to your rental property in one place, and as it turns out, it's a great solution for investors who own multiple rental properties.
A tech-driven approach to property management helps keep everything in one place. This makes owning multiple rental properties feel like owning just one.
As an owner with :Different, your digital portal gives you access to:
- Streamlined communication: A live-chat function in the app that also records your emails and queries in the past.
- All your records in one place: An overview of how much you've paid and been paid, all your agreements, contracts and documents for all your properties.
- Simple maintenance: You can review all your maintenance request in the same place in the app, and approve or disapprove them on the spot.
If you want to know more about all the features in our owner app and technology, check out our new owner app product update.
Of course, we built our technology to be a useful tool in the hands of our property experts. :Different is people and tech combined, so let's talk a bit about the people managing your rental.
Communication is made easier
Instead of being assigned a single property manager to manage your rentals, you get a team of dedicated experts at your back as an owner with :Different. We also have local experts on the ground in every city we operate in.
At first, this might seem counterintuitive. After all, the norm has always been to have one person as your point of contact. But did you know the average tenure of a property manager is just 9 months? With the high turnaround rates, service can become inconsistent as you constantly change agents, which could come with a whole host of problems and missed communication.
A single point of contact also leaves you open to a single point of failure.
Our team-based approach to property management solves this problem. You get the right expert depending on your issue and where your property is, while we can respond to your questions much quicker. And if you ever feel like you need a trusted, personal advisor, you can reach out to your personal Property Partner who's geared up with knowledge of everything that's going on with your properties.
90% of the messages we receive are responded to within 12 hours.
With experts on the ground, it doesn't matter if you have an issue regarding your property in Melbourne or in Brisbane. We'll route your request to the right person in that area with the right expertise and knowledge.
Plus, since your communication with us mostly happens through the app, you only have a single inbox for all your correspondence, and you don't need to keep track of multiple phone numbers or email chains.
We have agents on the ground of every city we operate in, so you benefit from local expertise.
At the end of the day, our team-based approach and technology help keep all your rental properties in one place with guaranteed local expertise. Put simply, it makes owning multiple rental properties feel like owning just one.
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