How to Manage Your First or Next Rental (and Save Thousands of Dollars)
Description
Managing rental properties doesn’t have to be hard. You can do it without the midnight tenant phone calls, “lost” rent checks, and other common landlord headaches. Looking to buy your first or next rental property? Today, we’re giving a masterclass on how to manage a rental property, even if you’re a real estate rookie with zero experience in investing. Ready to start?
Here’s what we’re breaking down in this episode: What to do before you buy, getting your lease agreement together, handling maintenance requests and repairs, move-ins and move-outs, security deposits, and more! What software do we use to streamline all the tenant communication so we don’t deal with a dozen phone calls a day? How do we handle tenant complaints and damages to the property without having our hair fall out (Tony optionally shaves his head!)? We’re giving you complete lists of every app and software we use so you can manage with ease, too!
Also, why did Ashley publicly weep in a courthouse early in her real estate career? She shares one key tip to save you time, money, and tears!
In This Episode We Cover:
What you should do BEFORE you buy your first/next rental to make your life much easier
Lease agreements 101 and the crucial additions that most landlords miss
How Ashley handles all her tenant maintenance requests without picking up a single phone call
What you MUST have a tenant fill out when moving into your property (this will save you a TON of money)
Every rental property software Ashley uses to manage her long-term rentals
What you should NEVER do during an eviction filing (Ashley’s BIG mistake)
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Real Estate Rookie Facebook Group
Sign Up for BiggerPockets Momentum 2025 to Supercharge Your Investing This Year
Grab the Book “The Self-Managing Landlord”
9 Incredible Resources To Help You Self-Manage Your Rental Properties
(00:00 ) Intro
(00:28 ) BEFORE You Buy
(07:40 ) Lease Agreements 101
(15:11 ) Maintenance, Repairs, Tenant Requests
(20:17 ) Move Ins and Move Outs
(26:39 ) Security Deposits
(28:05 ) Best Rental Property Software Best Rental Property Software
(33:49 ) Landlord-Tenant Laws
(40:23 ) You’re Ready for Your First Rental!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-516
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