"Landlords grow rich in their sleep" -John Stuart Mill
Happy kick off to August and a back to school prep for all the students out there! This week's newsletter is an interview with our very own Rachel Mariano, who specializes in property management. For anyone that considered our advice from last week and is now looking to go out and House Hack, minngo has you covered!
What are the benefits of working with minngo as a property manager? The benefit of working with minngo as a property manager is the technology that we have. We use the top property management software which makes managing properties much easier. Clients are easily able to access their tenant portal and let us know when maintenance is required, we can text or email someone directly, and even pay the owner's directly from the software as well. I enjoy being able to see a snapshot of what is going on financially and maintenance wise with each of the properties I am managing.
What happens when a tenant moves out? When a tenant moves out, the property manager will first need to conduct a final walk-through. During this walk-through, we make sure that nothing is broken and that the property is being given back to us the way that they received it. If there are any issues, we will need to contact our contractors to make it look it's best; such as paint or clean carpets. Once this is completed, we collect the keys and reimburse the security deposit, if any. Then actively work with owners to market the property to get a new tenant!! How are owners/landlords paid? Once we receive payment from the tenant, we ensure it clears our account, then send it to the owners via ACH. There is no need to wait for a check and deposit it into the bank, it is all deposited directly into an owners account!
What happens when there is damage inside the property like a broken dishwasher? When tenants put in a maintenance request, the most important part is to ensure that it is something that the owner has to cover or if it is something that the tenant is liable for. Something an owner might be liable for is when a toilet stops working or washer/dryer stop working. Something that a tenant might be liable for is a light bulb going out or if they flood the house due to using the wrong dishwashing detergent. It sounds silly, but people do call for these things!
Interested in learning more? Feel free to reach out and let's discuss!!