I'm doing it (by S i d [MO]) Aug 5, 2022 11:34 AM|
I'm doing it (by S i d [MO]) Aug 5, 2022 11:36 AM
I'm doing it (by WMH [NC]) Aug 5, 2022 12:28 PM
I'm doing it (by Roy [AL]) Aug 5, 2022 1:18 PM
I'm doing it (by WMH [NC]) Aug 5, 2022 3:02 PM
I'm doing it (by Roy [AL]) Aug 5, 2022 3:16 PM
I'm doing it (by MikeA [TX]) Aug 5, 2022 5:47 PM
I'm doing it (by Jeffrey [VA]) Aug 5, 2022 7:21 PM
I'm doing it (by 6x6 [TN]) Aug 5, 2022 10:13 PM
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I'm doing it (by S i d [MO]) Posted on: Aug 5, 2022 11:34 AM
Okay, so yesterday Jeffrey (metaphorically) slapped me in the face with his response to my ask for advice on how to handle tiddly-wink projects for the DIY land lord who is trying to be less DIY. I've already hired out things like maintenance, lawn care, etc, but I still do all my own screening, answer calls (rare) / texts (mostly) and emails. You know...office admin type stuff.
And then Mr. LL asks me, "What would you do if you couldn't do the job for health (or whatever) reasons?"
So I responded I was going to do something about it, and today I did. I wrote out a list of Office Administrative jobs I could use help with. It's not a lengthy list, probably less 1.5-2 hours a week at most. But still, important stuff to get done.
* Review/respond to email, phone and text messages from existing renters
* Send email & text responses to applicants and prospects
* Follow up with past due residents via email, text (Buildium generates the initial communication automatically, but someone has to follow up)
* Generate lease renewals via email
* Update non-E-pay Rent ledgers
* Generate leases for new renters
I'm going to hire an Office Administrative contractor to take care of these tasks. Not going to free me up entirely yet, but another step away from low value but necessary tasks that will free me up to do higher value and necessary tasks as well as more FREEDOM!
I'm doing it (by S i d [MO]) Posted on: Aug 5, 2022 11:36 AM
P.S. I do not intend "slap" to mean that he was in any way rude..far from it. Mr. LL is always kind, but he also has a way of saying things that challenge my assumptions and/or laziness directly. It just hit me in the face like a wet towel...I realized I HAD to get this done!
Thank you, Jeffrey!
I'm doing it (by WMH [NC]) Posted on: Aug 5, 2022 12:28 PM
Congratulations on the next step, SID!
I've been prepping my youngest son to take over admin stuff and though the process has been a bit slow (he has a full-time job which keeps him very busy, and a 2-year old, and I've been...ahem Jeffrey...taken a bit ill this year so your comments were very timely) it has really opened my eyes to what I need to DOCUMENT and MAKE CHECKLISTS for...if I can't explain it to him I'm doing it wrong!
Good luck. --50.82.xxx.xxx
I'm doing it (by Roy [AL]) Posted on: Aug 5, 2022 1:18 PM
Jeffrey's response yesterday hit me like a ton of bricks too. It was like getting a kick in the butt telling me to make changes now and not wait until a major crisis happens and I then realize I have no back-up. All I really need is someone to handle my vacancies which are creating the 20% problem that I always have with a vacancy.
It is the old iceberg principle/dilemma - 80% of your time is spent dealing with a problem (vacancy) that only reflects 20% of your business. --71.207.xxx.x
I'm doing it (by WMH [NC]) Posted on: Aug 5, 2022 3:02 PM
Roy, I have a automatic spiel that I use when I show upcoming availabilities (don't say vacancy! Make it a positive! It's available not vacant!)
The spiel is ingrained in me so much that sometimes I have to ask folks, "Did I tell you this already?"
Maybe WRITE DOWN what YOUR spiel is - Record it maybe? And then teach it to someone. No different than any speech.
The important thing, I found when teaching it to my son, is to STICK TO THAT SPEECH because you don't want much ad-libbing by a non-pro. He said he tends to talk too much - so do I - so sticking to the approved speech is important. --50.82.xxx.xxx
I'm doing it (by Roy [AL]) Posted on: Aug 5, 2022 3:16 PM
I use the word 'vacancy' mostly around other LLs because they always know I what I am referring to. I do agree with you that 'available' does sound better. The word 'vacancy' must have been invented by the owners of cheap roadside motels,...remember the blinking red neon 'no vacancy' sign? --71.207.xxx.x
I'm doing it (by MikeA [TX]) Posted on: Aug 5, 2022 5:47 PM
Sid, I went through some health issues last year that took every bit of energy for about 5-6 months. I wasn't able to do much but sleep. I had a 2 month notice from the doctor that I was going to be very ill. I quickly hired the wife of a 20 something friend, stay at home mom, child of a home builder. She took care of much of what you have on your list. I use google voice and she was the first responder. I also had her doing periodic inspections, 2 minute in home visits, open houses, and ranking applicants for my review. She understood the construction basics by helping her dad so she instinctively knew what to look for during inspections. I used her a couple of times to do cleaning and light repairs (wall covers & paint touch-ups). She came over to my home office the first of the month and processed the rent payments in my software, every other week she posted expenses from receipts and vendor bills.
She sent the little ones to preschool so she had a few hours each morning to do the tasks, I let her do them on her schedule within reason so she was happy. She averaged about 3-5 hours a week but at times was more like 15 hours a week when there was a turnover. She was thrilled to have a little extra income with the flexibility to work around her schedule. I didn't scrimp on her hourly rate.
Fast forward a year and I'm back to square one. They moved to a town about 2 hours away. Unfortunately, I wasn't following Jeffrey's advice and put it all down into checklists and procedures so the one-on-one training I did was completely lost, I have to start over from scratch. This time I'm going to start with checklists and procedures and then hire someone to do the tasks. The training time should be much less because it will all be in a document and if they will follow the steps I won't have to worry about less than adequate execution. I guess I could hire them to put the procedure together first, hmmm.
So, two thoughts. It can be done for more than just administrative tasks. Second, don't dismiss the importance of checklists and procedures lest you have to completely start over with an employee turnover. --209.205.xxx.xx
I'm doing it (by Jeffrey [VA]) Posted on: Aug 5, 2022 7:21 PM
S i d your comments made my day!!! After seeing your comments along with WNH and Roy, I was able to stop banging my head (for now:).
I started to answer your question about what would I do, but I turned the question around to you, because I wanted you to really think it through which knowing you, I knew you would do.
And after reading Mike's comments, this helps confirm for me that at least a few others are also heeding the advice. My mission continues to improve the success and lives of others, one landlord at a time. My hope is that many more landlords will learn from lessons I wish I had learned a lot sooner and heed the game/life changing advice. --70.161.xxx.xxx
I'm doing it (by 6x6 [TN]) Posted on: Aug 5, 2022 10:13 PM
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