Landlord-related business (by Kim [PA]) Dec 6, 2018 3:57 PM|
Landlord-related business (by GKARL [PA]) Dec 6, 2018 4:47 PM
Landlord-related business (by Robert J [CA]) Dec 6, 2018 4:55 PM
Landlord-related business (by Ken [NY]) Dec 6, 2018 5:43 PM
Landlord-related business (by AllyM [NJ]) Dec 6, 2018 5:57 PM
Landlord-related business (by Landlord ofthe Flies [TX]) Dec 6, 2018 6:25 PM
Landlord-related business (by myob [GA]) Dec 7, 2018 5:44 AM
Landlord-related business (by S i d [MO]) Dec 7, 2018 7:21 AM
Landlord-related business (by RathdrumGal [ID]) Dec 7, 2018 10:50 AM
Landlord-related business (by Ponari [TX]) Dec 7, 2018 6:48 PM
Landlord-related business (by Ray-N-Pa [PA]) Dec 9, 2018 11:22 AM
Landlord-related business (by Don [PA]) Dec 9, 2018 1:25 PM
Landlord-related business (by Kim [PA]) Posted on: Dec 6, 2018 3:57 PM
State Specific Question About: PENNSYLVANIA (PA)
Looking for perspective: We've had rentals for more than a decade and are now looking to branch out to start a service that could support other landlords. We're thinking of offering a quick-cleanout service (24 hours or less) to landlords who are looking to get a unit in shape to show as quickly as possible. Has anyone here ever spun off other services from their investing/landlord business and if so what's been your experience? For reference, we're in the Pittsburgh area.
Landlord-related business (by GKARL [PA]) Posted on: Dec 6, 2018 4:47 PM
I think you'd have a lot of business. I'm on the opposite end of the state. If you were here, I'd hire you guys. --209.122.xx.xxx
Landlord-related business (by Robert J [CA]) Posted on: Dec 6, 2018 4:55 PM
After being in the landlord rental business for more than 10 years (back in 1978-1988), I began to offer my services as a licensed contractor to help other landlords maintain, repair and remodel rentals.
Working with other landlords who knew the value of good, reliable and priced right services -- made doing business with them easier than working for the "retail" crowd.
After a short time, the landlord tenants would contact me directly and I'd use my judgment and skills to deal with issues. As clients got older and their family took over, they looked to me for advice and services. I got so much repeat business I never had a day without work.
Only because I had six construction licenses and many other accreditation's, I could do the job right the first time to everyone's satisfaction -- the tenants and owners loved a 1 stop shop.
There are many services one could offer to other landlords that could easily support bringing on extra staff and forming a new business....
Landlord-related business (by Ken [NY]) Posted on: Dec 6, 2018 5:43 PM
Property management,Title company --72.231.xxx.xxx
Landlord-related business (by AllyM [NJ]) Posted on: Dec 6, 2018 5:57 PM
People don't know how to screen. That would be helpful also. --73.248.xxx.xxx
Landlord-related business (by Landlord ofthe Flies [TX]) Posted on: Dec 6, 2018 6:25 PM
I like the screening business, but what would you be willing to pay for such a service and what would you expect them to do? --108.69.xxx.xxx
Landlord-related business (by myob [GA]) Posted on: Dec 7, 2018 5:44 AM
Been approached many times and other than giving advice to people I know locally -- eye to eye -- we're just to busy to open another endeavor. (We are family business)
Investing, repairing, court (civil) collections, tax work, including appealing taxes) and management for our own properties.
We tried the fix up for others but other LL's didn't want to do as much as we did to get the properties ready-- which meant they didn't rent quickly. Who got blamed for it not renting quickly? Well we all know that.
Family, not that it's a job, does take up time. One thing I will say. My family, wife and sons, sacrificed much while we started the business and we now try to pay that back. While my boy's friends were our skating or sleighing they were working inside rentals we purchased. Spare time taking care of things for THEM is important now. --99.103.xxx.xxx
Landlord-related business (by S i d [MO]) Posted on: Dec 7, 2018 7:21 AM
Basically, you're going to be a small business owner in a business that has a low barrier to entry. Literally anyone can become a cleaner with no training and very few dollars. The stay-at-home mom who is bored and can afford to work for $10/hour fun money will be taking jobs from you, unless you prove you offer significantly greater value.
Who is your target customer? Mom 'n Pop with a handful of Class C rentals or a semi-pro land lord with 30-40 class B rentals who can't do it all himself?
What will be your charge per job and how will it be seen as competitive with the dozen or so Craigslist cleaning ladies who appear and disappear every 4 weeks?
Will you do the jobs yourself or hire employees? How much would an employee or your salary cost per hour vs. what can you realistically bill a client per hour? What's your profit margin on labor (yours or your employees)?
Could you make a better profit margin in another line of land-lord related business that isn't as competitive or has such a low barrier to entry?
How will you build loyalty so customers won't wander off when someone undercuts you by $20 per job?
Lots to think about. --173.20.xxx.xxx
Landlord-related business (by RathdrumGal [ID]) Posted on: Dec 7, 2018 10:50 AM
Do you live near a resort area? Consider doing cleaning/turnover for short term whole house rentals. You need to be highly organized, able to make small repairs quickly, change the settings on Smart Locks, document and report any damages to owners.
Such turn over cleaners are making $25/hour in some markets. You will have regular clients who will give you access to their STR calendars, you will need to get to rentals at check out time, turn them over and have them ready by check in time.
Others have made a business of handling the guest communications/problem solving for off site owners. I live in a summer resort area. I knew a woman who worked with her teen daughters. She and her daughters could clean a house, provide fresh linens, and mow the lawns in a 4 hour window. They made a good living and had a loyal client base. --98.146.xxx.xxx
Landlord-related business (by Ponari [TX]) Posted on: Dec 7, 2018 6:48 PM
Iím wondering if you screen tenants for landlords could you be held legally responsible if something goes wrong? --47.188.xx.xx
Landlord-related business (by Ray-N-Pa [PA]) Posted on: Dec 9, 2018 11:22 AM
Not a bad idea if you can come up with a way to market your services specifically to LLs --72.23.xxx.xx
Landlord-related business (by Don [PA]) Posted on: Dec 9, 2018 1:25 PM
Not a business, but I have helped out friends who were landlords and also had full time jobs do turnarounds. Cleanup, paint up, make minor repairs such as re pair flooring, install light fixture, put in a gas shutoff valve, even install a new window to replace a rotted out one. --69.244.xx.xx