How do you keep track of multiple properties?

1 Use a property management software

One of the best ways to keep track of multiple properties is to use a property management software that allows you to store, organize, and access all the relevant information in one place. A property management software can help you schedule inspections, generate reports, monitor repairs, communicate with tenants, and more. You can also use features like cloud storage, mobile access, and automation to save time and reduce errors. There are many property management software options available, so choose one that suits your budget, needs, and preferences.

2 Create a property inspection checklist

Another way to keep track of multiple properties is to create a property inspection checklist that covers all the aspects you need to inspect regularly. A property inspection checklist can help you ensure that you don't miss any important details, document the condition of the property, and identify any issues that need attention. You can use a standard template or customize your own checklist according to your property type, location, and standards. You can also use your property management software to create and update your checklist digitally.

3 Conduct regular and thorough inspections

A key part of keeping track of multiple properties is to conduct regular and thorough inspections of each property. Inspections can help you prevent damage, maintain quality, and comply with regulations. You should inspect your properties before and after each tenancy, as well as periodically during the lease term. You should also inspect your properties after any major events, such as storms, fires, or renovations. You should document your inspections with photos, videos, notes, and signatures, and share them with your tenants and owners.

4 Maintain an accurate inventory

Another aspect of keeping track of multiple properties is to maintain an accurate inventory of all the items and appliances in each property. An inventory can help you keep track of what you have, what you need, and what you are responsible for. You should create an inventory list for each property, and update it whenever you add, remove, or replace anything. You should also check your inventory against your inspection reports, and note any discrepancies, damages, or losses. You should also use your property management software to store and manage your inventory data.

5 Delegate and communicate

Finally, one of the ways to keep track of multiple properties is to delegate and communicate with your team and stakeholders. You don't have to do everything yourself, especially if you have a large portfolio or a busy schedule. You can hire or outsource professionals, such as inspectors, contractors, cleaners, or agents, to help you with some of the tasks. You can also use your property management software to assign roles, tasks, and permissions to your team members, and monitor their progress and performance. You should also communicate regularly with your tenants, owners, and vendors, and keep them informed of any issues, updates, or feedback.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?