It’s difficult having several properties, because you can’t be in more than one arena at any given moment.
I have a few properties that I use myself or rent out to family members and friends.
My other condos and houses are all rental properties 24/7. I don’t have a property management team handling my rentals, however I’m starting to think that I should. Just hiring an outside handyman and service team isn’t enough to lighten my heavy workload. I’m driving from one location to the next on a yearly basis. Even though I don’t have a fifth task, I’m genuinely working so much that it feels appreciate I have several tasks. It’s hard when you have a tenant in one unit waiting on a new a/c upgrade, while you have a tenant in a odd unit calling about a leaking pipe. Now that we’re in the grips of the chilly Winter time season, my work has doubled with the needed preparations from one arena to the next. I tell my tenants to run their oil heating systems to keep the pipes from cold downstairs. A frozen pipe can lead to a giant water leak immense enough to flood an entire basement. In one of the properties that I keep for personal and family use, I am regularly making adjustments to the smart control unit from my smartphone. I have to turn the oil furnace on high enough to keep the water running separate from using so much heat that I’m wasting electricity. The last thing I want is a catastrophic flood inside my home while I’m away at a odd location. Even with flood insurance, drastic water damage can be hard to completely reverse if drywall and wood framing are exposed.