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5 Super Helpful Landlord Property Management Tips

investing in property

Buying a property to rent to tenants is relatively straightforward. However, managing tenants is another thing altogether. There are legal requirements to understand, follow, and keep the occupancy rate up—i.e., a low vacancy rate—so your investment makes a profit.

The good news is that there is a lot of information and support online for self-managing landlords, like our discussion forums. Plus, with more people renting for longer, the property management industry is rising—i.e., more people are becoming property managers.

In 2019, the property management sector revenue rose to $75 billion. Homeownership rates are dropping, and home affordability is out of reach for so many. More rental properties and property managers are needed, so read on for our tips if you plan to manage properties.

If you’re concerned about what you must do when becoming a landlord, this post will help. Read to learn five landlord property management tips to help you better care for your properties.

1. Screen Your Tenants

You hear plenty about bad landlords when talking to renters. But how often do you hear about bad renters?

Unfortunately, some renters out there seem to make it their job to cause problems for rental property owners. They take advantage of the law to live rent-free for as long as possible.

The excellent news is screening your tenants can help you find these people before renting to them. Make sure you screen every renter before allowing them to become your tenant.

2. Require Renter’s Insurance

It doesn’t matter how much you do to keep your properties safe. Accidents can still happen. The problem is that a renter may hold you liable for damages.

You can avoid potential lawsuits by requiring renters to purchase renter’s insurance. The insurance company will cover damages, so you don’t have to.

3. Have a Written Rental Agreement

Talking about responsibilities to a tenant isn’t enough if you want to protect yourself. It would be best if you had your tenants sign your rental agreement. Doing this provides a paper trail in cases where something goes wrong.

A paper trail will enable you to take action if your renter doesn’t follow their part of the agreement. You’ll be able to do what you need to solve the problem.

4. Make Use of Technology

We live in a digital world. If you try to do things the old way, you’ll only create more work.


You can use software services to keep records and take payments online. This will reduce the amount of work you do and give you a way to organize and keep records.

5. Make Use of Smart Home Gadgets

It would be best to have every advantage when managing your homes. The good news is that a variety of innovative home hardware and software tech will make your life easier. You can use these products to monitor your home for problems.

Take your plumbing, for instance. You can use water-saving technology and sensors to manage the water in your home. Water conservation is on most people’s minds, so using tech to lower your tenants’ water bills and also allow you to monitor for water leaks makes sense.

Landlord Property Management Isn’t Simple

Think again about whether you can sit back and relax when you manage properties. Landlord property management is a skill you need to practice if you want to become a success. Follow the tips above to get started the right way.

Do you want to learn more about investing in and managing real estate? Keep reading our blog to get everything else there is to know.