How to Reduce Property Management Stress
Property management can be extremely stressful. Keeping track of maintenance requests, inspections and all the paperwork involved can quickly cost you time and money, as well as unnecessary stress. Here are a few tips to help you keep on top of your property management.
Tips to Reduce Property Management Stress
Hire a Property Manager
A property manager will massively reduce any stress around your rental - they will deal directly with prospects and tenants on your behalf, saving you time and worry! They will market your rental(s) for you, collect rent, handle maintenance requests and repair issues, communicate with your tenants, and even handle evictions.
When it comes to your time and stress, we definitely think they are worth the money!
Schedule Your Time
If you are going to manage your rental property yourself, we recommend ensuring you schedule time to deal with your tenants and properties. Set time aside each week or month to check in with them, deal with any issues, schedule maintenance, make sure rent is paid and so on. Putting it off will only mean that the work builds up and creates even more stress for you in the long run.
Be Prepared and Organised
Keep all records of your properties on hand and organised. This includes rental agreements, receipts from repairs and maintenance, rental payment records etc. When issues then arise, or tenants have questions or requests, you have all of your documentation on hand, ready to go!
Be Proactive
As soon as you get a question from a tenant, answer it. If maintenance is required on the property, take care of it rather than wait for it to become a problem. By staying on top of maintenance and repairs, you’ll have fewer stress-inducing issues down the line!
Automate Tasks
If there is something you can automate, take the time to set that up. Whether it be accounting software to make sure all payments are in order or automatic follow-ups after inspections, automating small tasks can save you hours in the long run. Though it may initially be time-consuming to set up, checking those small tasks off the list automatically will be worth it.
Hopefully these few tips will help you get a handle on your property management, but if you need help, get in touch with the MK Realty team for more information on our property management services.
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