Responding to maintenance requests, collecting rent, building a relationship with tenants; it can all become too much. Without help, your rental properties could cause more stress than they're worth. Before the stress becomes detrimental to your health, use these stress management tips for landlords.
With these tips, you can work efficiently without unnecessary stress. Make the most of our rental properties today!
Start Outsourcing Tasks
Make a list of the responsibilities you handle daily. Which of these tasks can you outsource to a property management company? Outsourcing tasks will take time-consuming responsibilities off your plate.
Start by outsourcing your marketing and tenant screening processes. Screening tenants will ensure you find reliable, trustworthy tenants.
Failing to screen tenants could leave you with renters who will damage your property and cause you additional stress. Screening tenants on your own can become time-consuming. You could collect inaccurate information.
A thorough report should include:
- Income/employment verification
- Criminal background reports
- Eviction histories
- Rental payment histories
- Credit scores
Your property management company can handle this process on your behalf. They'll select renters you can trust with your property. Choosing quality renters could help you retain tenants, allowing you to avoid the stress of vacancies.
Automate
If you're not outsourcing tasks, use automation to streamline repetitive processes. For example, you can automate rental documents and emails.
Automating these processes will save you time while minimizing human error. Your property management company is likely already using state-of-the-art technology. Their tools can help you boost productivity.
Choose a company that uses software to automate rent payments. They'll send tenants payment reminders and automate late fees. You won't have to deal with these stressful tasks in person.
Use Stress Management Techniques
Excessive stress can compromise your mood, immunity, digestive system, and cardiovascular health. It could increase your risk of stroke, heart attack, and other chronic conditions. Use stress management techniques before landlord stress compromises your health.
For example, you can pick up yoga, journaling, or meditation. Try a few techniques to determine what works best for you.
Create an Emergency Fund
You never know when an emergency can strike (and drain your savings account). Create an emergency fund to prepare for these events.
For example, you may need to schedule emergency repairs. Tenants will know they can trust you when they need help. Responding quickly could improve your relationship with tenants.
Hire a Property Manager
If you're still feeling stressed, hire an experienced property management company. Relying on their experience and expertise can help you avoid stressful situations. They can manage your rental properties and provide support when you need it most.
Successful Landlords in Marietta
The most successful landlords in Marietta don't do it all alone. They're outsourcing tasks and relying on property managers to get the job done. Use these stress management tips to take some of the stress off your shoulders.
Need help with your rental properties? PMI Cobb has a strong record of success and the awards to prove it.
We're committed to helping maximize your owner profitability. Contact us today for a free consultation.
