Home Forums General Real Estate Discussions Getting Started in Real Estate Any tips on how I can balance both my job and renting out my condo unit?

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    • #8200
      Anonymous
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      Hi! I’ve tried renting out my condo unit before. The income was actually good, but managing everything from tenant concerns, turnovers to bills got pretty time-consuming. I’d still like to continue this as a side hustle, but I also have a full-time job. Any tips on how I can balance both?

    • #8201

      TL;DR:
      Yes, you can keep your rental side hustle going while focusing on your main job—just make it easier on yourself. Delegate, automate, and choose the right setup (like long-term tenants or a property manager). With the right system in place, it becomes a passive income stream, not a second job.

      You’re definitely not alone! A lot of property owners feel the same way—rental income is great, but the day-to-day work can feel like a second job. The good news is, there are ways to keep the income flowing without burning out. Here are a few suggestions to help you keep it going while focusing on your main job:

      1. Consider Hiring a Property Manager
      If you want to be mostly hands-off, this is your best bet.
      * They handle tenant inquiries, repairs, payments, and turnovers.

      * Some even help with marketing your unit, screening tenants, and legal paperwork.

      * You’ll pay a fee (usually a percentage of rent), but for many, it’s worth the peace of mind.

      Tip: Ask around for referrals or check with your developer—some have in-house leasing or management services.

      2. Automate What You Can
      * Use online platforms for rent collection
      * Set up reminders or automatic payments for bills (e.g., electricity, internet, dues).
      * Use templates for contracts, move-in/move-out checklists, and responses to common tenant questions.

      3. Set Clear Terms from the Start
      * Choose tenants who are reliable and low-maintenance (long-term tenants are ideal).
      * Set clear house rules and expectations before they move in.
      * Provide a simple tenant manual or FAQ so they know what to do if something comes up.

      4. Go for Long-Term Leases Instead of Short-Term Rentals
      * Monthly or yearly tenants mean fewer turnovers and less day-to-day involvement.
      * You won’t need to constantly market or clean the unit like you would with short-term guests.

      5. Explore Leasing Through Platforms
      * Sites like Airbnb, Facebook Marketplace, or even brokerage services can help you find and manage renters.
      * If you go with short-term again, consider hiring a co-host or someone local to help with check-ins and cleaning.

      Feel free to let us know If you need assistance on getting a property manager, setting up a contract template, or streamlining your setup? We can help you get started!

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