A lot of furnished corporate housing owners manage their own properties instead of hiring a property management company to do it for them. This might seem like a lot of work, but it can actually be very simple if you have a good checklist. With this cheat sheet, you can organize your property management responsibilities so that you won’t feel like you’ve taken on a second job with your furnished corporate apartments.
- Accept Credit Cards – First of all, you need to be able to accept credit card payments from your renters. You can easily do this with a number of different free and low-cost services, like PayPal, Venmo, and/or Square.
- Market Your Listing on CHBO and Social Media – You can list your furnished corporate housing apartments or houses on CHBO. Be sure to upload a number of quality pictures of all aspects of the property, and write a really great description. And don’t forget to link to your listing on social media and let all of your friends and followers know that you have an amazing corporate apartment or home for rent.
- Use Google Docs or Google Calendar to Manage Rentals – You don’t have to be an organizational guru to manage when your properties are being rented and when they aren’t. Just use Google Docs or Google Calendar to create a calendar for your rentals to let people know when your properties are available, when they’re occupied, and when they’ll be available again. This will also help you keep track of scheduled maintenance and repairs, too.
- Inspect the Property Between Tenants – Instead of paying a large deposit, most renters will have renter’s insurance. If you don’t inspect the property between renters, though, you won’t know when you have to bill a renter or their insurance company. Doing a quick inspection will prevent a lot of hassles and wasted money, and you can schedule it using your Google Calendar for your rentals.
- Create a Cleaning and Maintenance Schedule – Finally, don’t neglect the property and don’t just do a little cleaning when you think it needs it. Instead, use your calendar to schedule regular cleanings, deep cleanings, and any maintenance that the property will need. You can also use this to schedule when to replace furniture and/or décor, when to decorate for the holidays, etc.
There you go – with this checklist, you’ll have a much easier time managing your furnished corporate housing properties. You’ll save time and money, and you’ll enjoy a larger profit margin, too.