Rental property ownership and management can be intense. Whether it’s an emergency repair or a tenant who keeps on calling at all hours for minor problems, you may find your stress levels rising. How can you maintain your properties well while managing the stress that comes from rental property management? Here are four tips:
1. Your Tenants Are Your Best Asset
What goes through your mind when you think about your tenants? Are you stressed out just considering the idea of finding a new tenant? When you’re working on property maintenance, your tenants can be your best asset.
A good tenant will let you know about problems on the property, giving you a heads-up before those problems become serious. A leak might not seem like a big problem, but if it’s left alone, it can cause rot.
A good tenant will also maintain the property. Just by keeping the house and garden clean, you can avoid a lot of the problems that come when a property is not used or is poorly maintained. You still need to do your job, but when you find a tenant who really works, you can rely on that person to act as your eyes, ears, and crew on the ground.
Finding the good tenants can be difficult, which is why working with a management company is ideal. They can help you find and secure the right tenants for your properties.
2. Know Your Property
Avoiding surprises is key when you’re trying to reduce stress. You need to get to know your properties and the neighborhoods of your Seattle rentals so that you can find solutions that fit those properties.
For example, if you’re purchasing a home for rent in an area with a homeowners’ association, you’ll need to stay on top of all of the rules and maintenance guidelines for that home, so that you don’t get into trouble with the association.
If you own a home in an area that suffers from frequent break-ins, you’ll need to add an alarm system and change the landscaping to improve sight lines from the house.
Make sure that you understand each of your properties well enough to do the maintenance that’s essential in that neighborhood and you’ll reduce the number of unpleasant surprises that result in stress.
3. Get Ready for Emergencies
There’s nothing like an emergency to add some stress to your rental property management day. A burst pipe in the walls can ruin your whole week.
What if that pipe didn’t burst in the first place?
Frequent property inspections can help you avoid emergencies before they become serious. They’ll also help you make a long-term list for property maintenance needs.
To reduce stress from the emergencies that do happen, you’ll also need to have a list of people to call on in an emergency. Whether it’s a plumber or an electrician, knowing that you have someone to count on can help you weather the problems with your properties. Work with a management company with experience in Seattle rentals to develop a list of contractors you can trust.
4. Plan Ahead
When you’re looking to avoid future pain points and stress as a property owner, plan ahead for your property maintenance. Scheduled maintenance can pay off. According to The Balance, property managers need to “balance the costs of routine and preventive maintenance with the benefits and desired results.” What should you maintain to make sure that you don’t run into serious problems?
- Common areas
- Electrical and plumbing systems
- Servicing systems such as heat and air conditioning
- Protective structures such as the roof and gutters
Property maintenance is a lot of work and planning ahead is essential. And as your property portfolio grows, so does the related work. But that doesn’t have to add to your stress; at Lori Gill and Associates, we’re here to make property management easier for you.
Reduce your stress and hand over the work to us. We’ll help you find tenants, organize preventative maintenance, and manage emergencies. Let us handle your property maintenance so you have more time to focus on other things. Connect with us today.