Challenge Overview Became a property investor in 2005 with a couple property units in a multi-unit...
Challenge Overview
- Became a property investor in 2005 with a couple property units in a multi-unit development and rented them out
- Added a small multi-unit building to his portfolio, initially engaged a property management firm but eventually decided to be a DIY landlord for those properties
- All properties were remote and across different countries and currencies. He tried his best to use online tools to manage and communicate with tenants and Service Pros
Solution
Jeremyis using the entire feature suite of ManageCasa including lease management, accounting, maintenance management, document management and tenant communication.
Key Outcome
With ManageCasa, it takes Jeremyless then 5 minutes on average per day to reconcile rent income, record property related expenses, and create valuable reports to gain insights about his portfolio’s financial health.
Maintenance requests are now streamlined and the communication on an issue is context-based to each ticket so conversations never go unanswered. Tenants feel more connected now as they always know how to quickly and easily get in touch with him without having to worry about disturbing him at any inconvenient time.
At year end, Jeremy reduced his time to run reports for tax filing purposes by about 80 percent, because the automated bookkeeping system helped him to have all financial transactions already in the system.
From a propery investor to a landlord
Jeremy laid the ground early for something he did not know would later become his passion. He had the vision to invest early in properties to support his later income and as a long term investment. When he was only in his 20s, he invested in 2 property units in a new development near where he lived that he knew had the potential to gain value.
Using saved money and a mortgage, he closed the purchase of 2 more units in a multi-unit development in late 2004. Starting from 2005, he advertised the units and began renting the units to tenants to make additional income on the side from his occupying full time job at a leading IT company.
This was only the beginning; today he is managing a portfolio of 10 residental units, comprised of multifamily, single family residential properties and even a few apartments in larger multi-family developments that are parts of community associations. The property are spread across various cities and across 2 countries. With his solid technology background, he always sought out a more effective property management tool since he was doing this in the evenings or on weekends in addition to his busy full time job.
Tools to help Jeremy
After years of managing his properties, his tenants, repairs and reconciling income and expenses on spreadsheets, Jeremy learned about ManageCasa. Quickly he was onboarded to the platform and able to replace his tedious ways of the past.
