Did you know a landlord spends an average of four hours per month on an individual rental property? When you also run a full-time job, most of this tends to fall at the weekends. But do you know how to cut this time back?
With planning and preparation, it can be done. Read on as we discuss five ways in which a landlord can waste a weekend.
1. Chasing Rent
Nothing is more time-consuming than chasing down a late payment. Usually, if it is not paid, there is a reason. That usually results in a tenant that will do everything they can to avoid you, making the job harder.
Reducing late payments can be done in several ways. The first is to hire a property management company to do it for you. If you do not want this regular expenditure, consider investing in an automated property payment platform.
Finally, improve the tenant screening process. Make sure you do financial checks on them, so you know payments will be on time.
2. Doing Repairs
Everyone likes to save money as a landlord, which often translates into doing jobs yourself. This is especially true of the smaller, more fiddly jobs that need a quick fix.
However, the quick fix is often just that. Later down the line, it will need repairing again, taking more time. That cuts into another weekend.
Sometimes, you have to bite the bullet. Get a professional in, pay them for their hard work, and worry no more. If you can get a regular person you trust, you will be surprised how much easier your job becomes.
3. Too Much Communication
As a landlord, you have a lot of issues to tend to. Rental property inspections, collecting rent, finding tenants, and many other factors all mount up. All of this requires communication, and it can all get distracting.
Don't get email updates to your phone. Instead, attend to your jobs then check them. You can give a designated time in the end to responding and arranging times and dates.
Definitely remove social media from your phone. One message can lead down a rabbit hole that will destroy your time. All it will do is distract you from the job at hand.
4. Not Having a Schedule
Having a schedule with times lets you get jobs done quickly and efficiently. If not, you can work away, do something else, and before you know it, a day has gone. Instead, have a wake-up routine that includes setting a schedule for the day's tasks.
5. Being a Yes Person
Being a yes person is nice. It lets you please people and keep everyone happy. However, what it also does is fill up your schedule.
Concentrate on important tasks related to your investment property. After this, you can focus on helping out other people.
Get Landlord Assistance
Being a landlord is about property management. Sometimes, with other commitments, it can become too much. Don't be afraid of getting some assistance.
Your first stop should be Allegiant Management Group. We can serve all your property needs in Kissimmee and surrounding areas. Contact us and let us take some of the property strain from your hands.
