Organizational Tips for Busy Property Owners
Owning a rental property is a lot of work and at times it can be tough. As a property owner, you’re always busy. Common tasks are posting rentals, tenant requests, maintenance, and keeping up with records. Sometimes it may feel like there are too many tasks to tackle and not enough time to do so. Your time is valuable, so make the most of it with these organizational tips for busy property owners.
The condition of the property, inside and out, relies greatly on the tenants and how responsible they are with your investments. With that said, other instances of wear and tear are unavoidable, like roof damage and foundation problems. Doing routine maintenance. Routine maintenance and inspections will help to spot these problems before they get worse. Doing so will also save valuable time and money on future work orders and replacements.
Notes are a great way to keep a record of thoughts, conversations, requests, or important tasks. In order to manage your time well, you’ll need to keep notes and lists to stay on top of what needs to be completed. Keeping notes electronically, on your mobile phone or computer, allows instant access to them wherever you are. The note taking app from Evernote can help keep track of pretty much everything in life without the risk of losing notebooks or phone numbers. Evernote is a secure place to keep information that you wouldn’t want to lose. It also syncs notes between different devices for maximum efficiency.
Instead of posting signs around the neighborhood or using word of mouth, listing your property online is a quicker and more convenient alternative. The online marketplace allows you to reach the largest number of prospective tenants. There are several websites that allow owners to post their rentals; many of these websites also offer applications and background checks that can be done through the website. Another way to save some time when it comes to maintenance is to hire someone or a company to do maintenance for you, this will let you be available to do other things that need to be done.
Use Property Management Software
Purchasing a type of property management software will save you plenty of time. There are several different options available; some of them can be tailored to fit specifically to your needs. These systems can be used to screen tenants, sign leases, request and keep track of maintenance, and process rental payments all in one easy, convenient location. Property management software is automated and safer than keeping paper documents. There is a smaller chance that important documents will be lost or destroyed.
Delegating tasks to another individual will allow you to spend the necessary time on tasks that can’t be delegated. A reliable assistant is an asset to a busy property manager. An assistant can also serve as the main contact or liaison between tenants and you. Requests and tasks can be filtered and only brought to your attention if they need to be.
Deciding to rent one of your properties isn’t easy. There is a lot of work and time that is put into it. Staying organized and managing your time effectively will help you succeed and be a great property owner.