As a real estate investor and landlord, your job is never done. It seems like there’s always another thing to do. When your rental space is empty, you need to market yourself and screen potential tenants. When the space is filled, you have rent collection and regular maintenance duties to perform.
So, how can you streamline the process of renting out your property? How can you make your job easier, while still getting everything done? Read on for some tips on how to take back your time and simplify your life.
- Utilize the Power of the Internet. The internet is a great place to start when it comes to things like advertising, screening, and collecting rent. Make things easier for yourself by relying on trusted tools and websites to do the heavy lifting for you.
- Outline Rules & Expectations Upfront. Before signing with a tenant, be sure that they understand all the expectations that come with renting your space. It’s best to have everything plainly laid out in your rental agreement. Establishing some ground rules ahead of time will minimize any headaches later on.
- Digitize Documents in the Cloud. Cloud storage is a great place to keep all your most important documents. Simply scan physical documents to your computer or device, or use e-signatures to keep everything digital from the start. Easily organized and accessible from anywhere, digital paperwork will save you plenty of time.
- Track Income & Expenses. While you should do this anyway, tracking and labeling every penny that comes in or out of your account will make your life much easier. Having a record of expenses will make it much easier to calculate tax deductions and disprove any false claims.
- Conduct Regular Inspections. It’s quite common for landlords to do periodic inspections of a rental space, even in the middle of a tenant’s lease. Frequent inspection will prevent any serious issues from going unnoticed, saving you time and money in the long run.
- Enlist a Property Manager. A property manager’s job is to automate routine tasks and keep things running smoothly. Landlords everywhere rely on their services to make life easier. From tenant screening and rent collection to bookkeeping and maintenance repairs, you can trust that your investment is in good hands.
Looking for an experienced property manager in the Charlotte area? Look no further than Talley Properties, Charlotte’s best property manager! Not only do we offer clients numerous valuable services to ease their workload, but we bring 40 years of local market experience to the table as well. Contact us today to learn more!