Mar 6, 2020
A business system is a mechanism for solving or executing issues or tasks that come up repeatedly, and in a streamlined, effortless manner. Business systems can help solve inefficiencies for business owners in any industry, and real estate systems are no exception.
The importance of real estate systems is expressed through a business owner's ability to save time and pursue activities that support the growth of their business.
The system that we put in place are screening tenants, keep track of our invoices, regular meeting with staff members to address any issues, bookkeeping, Maintenance & Inspection systems.
As a business owner you should put these systems in place as early as with your first real estate purchase so that you get used to it and get your business to run as smoothly as possible.
We are REIN members for over 12 years now and when we first started in Real Estate business, we learnt that we should keep 4 files for each property. One for tenant leases, One for Repair & Maintenance and Bills, One for Legal and Purchasing documents and the other for Miscellaneous.
Nowadays, you can put all these files online in a Cloud so that you can access it from anywhere with ease. By implementing these systems you can save time, so that you can serve more clients, scale your business and increase profits in less time.
The following includes a step-by-step overview of how to create real estate systems that work.
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