Managing a real estate portfolio on top of your regular job can feel overwhelming, particularly when you own commercial spaces in thriving areas like the Gold Coast.
Your to-do list seems endless and your tenants keep ringing – how do you stay organised and get it all done? When there just aren't enough hours in the day, technology can help. Let's take a look at four online tools that will earn you the title, 'Super Landlord'.
You get a notification on your phone – someone has responded to your online listing. Amazing! But what happens if this comes through at a time when you have a million other things on your plate? The unfortunate reality is that this contact might slip through the cracks.
That's where IFTT comes in. Aptly named 'If this, then that', IFTT is a tool busy people can use to automate organisational tasks by connecting apps, tools and other devices. These automations are called 'recipes'. For example, you might set up a recipe that when someone responds to your ad, an email reminder is automatically sent to you with their contact information.
As a commercial property investor, you could set up recipes to:
There are many moving parts in any real estate portfolio. IFTT can help you coordinate them!
As the end of financial year approaches, it's important that investors have a firm understanding of what they can and cannot claim.
BMT Tax Calc can help investors get an accurate estimation of potential property depreciation deductions available to them. The calculator weighs a number of factors and looks closely at the details of your property to help you come up with a depreciation schedule and maximise returns.
With tools like BMT Tax Calc, Gold Coast investors can do away with shoebox accounting and guess-work for good.
Being a landlord can feel like a constant juggling act, particularly when your tenants are in business.
Fortunately, Realvolve can help you stay on top of tenant relationships and ensure everyone's needs are met. This helpful app lets you:
Essentially, it's all the relevant information about your portfolio stored in conveniently in one place.
Thinking of renovating your commercial space? If so, you're probably in the market for licensed builders and tradespeople.
To avoid hiring someone who isn't truly qualified, use the Always Check Your Builder tool. This site allows you to enter a business name and see whether or not it is licenced. It will also show if the licence has certain restrictions or endorsements. For more information, you can even buy a background report of the business' dispute history and credit status.
While apps can help, expert property management is key if you want to get the most out of your commercial real estate portfolio. At Ray White Commercial Gold Coast, our experienced property managers can help investors save time and money by organising the vast majority of tasks and offering constant support. Plus, we partner with qualified, trusted tradespeople, saving you the hassle of searching for your own every time you need maintenance or a repair.
Remember, being busy is a good thing when you're an investor! If you feel like you're struggling to keep up, you might just need some help. Reach out today to learn how commercial property management could be the answer.