A green, manicured yard can be a huge draw in for tenants. It'll evoke daydreams of summer barbecues and frolicking puppies, of sitting in the garden with a good book, or picnicking with the kids on the lawn. The benefits of having a nice yard are easy to see, however it's important to set the expectation for prospective tenants that a yard is also a responsibility that requires maintenance.
An increasing number of people are starting to jump on board with the idea of finding some passive income streams in addition to their 9-5 jobs. Passive income refers to work you continue to get paid for after you’re done—whether you purchased a franchise you have managers run or you have a rental property, minimal day to day work is required to generate income. Having additional revenue streams can open so many doors and give you more freedom in life. Whether you use the extra funds for travel, retirement savings, paying off your student loans, or you continue to build your investment portfolio—passive income helps you escape the constant grind of getting financially ahead. Sounds like a pretty nice deal—do the up front work, and then make money while you sleep. However, this only works when you plan ahead to minimize your time commitment while maximizing your profit.
Whether you own 1 or 15 rental properties, showing your vacancies can be a time consuming and stressful job. There are typically going to be several showings before you and your tenant make a final decision to sign a lease together. For each one of those showings, you’ll need to coordinate timing, drive over to the property, give a tour, answer questions, drive home, follow up, and wait to hear back on next steps. For 80% of property managers, scheduling showings often means taking time off of work or taking time away from family on evenings and weekends.