Managing rental properties is not always easy, especially when you have multiple units. That’s why it’s important to have a plan in place that can help you manage your rentals the right way. From setting the right rent prices to keeping your tenants happy, there are many things that can go wrong with rental property management if you don’t know what you’re doing. To help, we’ve put together a guide on how to manage your rentals and avoid the most common landlord mistakes.
Before you even consider renting out your property, it’s vital to screen potential tenants thoroughly. Typically, this will include background checks, credit access, references from previous landlords, and verification of income to make sure the applicant can afford the monthly rent. This can save you a lot of headaches and money in the long run.
You’ll also want to make sure you’re putting in the work needed to keep your rental property in good condition. This includes regular property maintenance, as well as keeping up with landlord-tenant laws in your area, including eviction procedures and security deposit rules.
If you’re not sure where to start, consider hiring a professional property management company. They’ll have the experience and knowledge to help you get your rental up and running and find great tenants quickly. They’ll also be able to market your rental property, so it gets the exposure it needs on rental websites and local listings. Learn more about how Doorstead helps first-time rental homeowners profit passively by managing their properties for them. manage rentals