Becoming a successful landlord can be quite a daunting prospect, particularly if you own multiple rental properties. To successfully manage your property, you’ll need to invest a lot of time and money. Thankfully, there are several hacks that you may not be aware of that can make your job significantly easier.
Here are some life-changing hacks that every landlord should know.
Create office hours
Whether you’re managing one rental property or a dozen, being a landlord can easily become a 24/7 job. Failing to manage your time could lead to you becoming burned out and making more mistakes.
To better manage your work/life balance, consider creating office hours and including them in tenancy agreements. That way, your tenants will always know when to contact you and you can rest easy knowing you won’t need to deal with requests at odd hours.
Keeping your tenants happy
Keeping your tenants happy is essential if you want to keep the money coming in. Building a healthy relationship and keeping on top of any complaints are great ways to keep tenants happy, but there are smaller things you can do to set yourself apart from other landlords.
Little things like sending a birthday card or regularly asking for feedback will make your tenants feel valued and can help ensure a long and fruitful relationship.
Store important documents on the cloud
Keeping important documents and records safe is essential. While it’s always a good idea to keep physical copies, you should also store digital copies on cloud servers. This means that, in the event of physical documents getting lost/destroyed, you’ll always have the important information on hand.
Buy appliances on sale
An easy way to save money when furnishing a property is to bulk-buy appliances on sale. Appliances regularly go on at various points sale throughout the year, such as Black Friday and New Year Sales. You can also buy second-hand appliances, which may have some slight cosmetic damage but would otherwise work perfectly.
Omni Property Management are professional property managers based in Auckland. To find out more about how we can help new and veteran landlords, contact us today.