For investors who manage rental properties, understanding how to manage out-of-state residential income is considered a crucial part of the job. Not only can managing out-of-state rental properties be difficult because of the location differences, but it also requires a high level of organization to be successful. In order to help those managing out-of-state residential properties, utilizing programs like Rentredi can be highly beneficial.
Managing Your Properties Through Rentredi
Rentredi is an online software program that helps landlords manage the various aspects of rental properties, helping to make the process as smooth as possible. Some of the capabilities that Rentredi offers tenants include paying rent online, submitting maintenance requests, organizing important documents, and more. Rentredi is a great option for both landlords and tenants to take advantage of, as it can make the process much easier.
Showing Out-Of-State Properties
For investors who manage properties that are out-of-state, taking advantage of a program like rently.com can be highly beneficial. Rently.com is an online program that helps landlords and real estate agents to highlight properties for potential tenants through the use of technology. The program allows landlords to set up a walk-through of a given property without requiring a formal appointment with the landlord. One of the biggest benefits of rently.com is that it allows out-of-state landlords to complete property showings with potential tenants without having to physically be there. They do this by adding a lockbox to each property, making it easier than ever for tenants to view rental properties.
Managing Legal Documents
After deciding to rent out a property, there are a number of legal documents that are required before finalizing the process, which typically includes formal contracts. To help make the legal process more efficient, many out-of-state landlords have started taking advantage of RocketLawyer.com. The online program can not only help create legal documents for landlords, but it also acts as a hub for important documents as well. Tenants can view and sign contracts, review any notices from landlords, and revisit any legal documents associated with the property. This is a great way to not only keep important documents all together in one place, but it can also streamline the signing process for legal contracts.
To learn more about how to successfully manage out-of-state residential properties, visit real estate investing expert Sonia Hodgin’s monthly blog at SoniaHodgin.net.