.jpg)
Becoming a landlord can be a great way to make some extra money. However, it can also be very stressful if there's a lot of drama because you're renting to the wrong tenant.
Successful landlords will tell you the ins and outs of renting a property. You need to know the law, adjust to different situations, and handle different personalities.
There are many things to learn when it comes to tenant screening before becoming a landlord. With the right advice, you can make sure your rental property is a blessing, stress-free, and, most of all, profitable.
Keep reading for tips on reducing the stress that comes with being a landlord.
What Landlords Should Know Upfront
When managing rental properties and tenants, efficiency is key. Some property owners do not manage their properties, while others do all the work. If you're a landlord who has a full-time job, it can be really tough to find time to take care of your property.
It isn't like working 9-5. You don't have a set work schedule of 40 hours a week. Some days are easier than others, and some will come with added hours and no overtime pay.
Things can change all the time. For example, you might have rent collection on your schedule, but a renter reports their AC has gone out. You now need to call an HVAC technician or take care of it yourself. Either way, maintenance expenses will cut into your profit.
What should have taken five minutes has turned into two hours of unexpected delays.
Understand Property Management Laws
Property management has a very important legal side. Landlords need a basic understanding of property law if they want to be successful. That means knowing local, county, and state ordinances on tenant rights, evictions, and more.
Real estate law can get complicated, so it is best to leave it to the pros. Otherwise, you can easily end up stressed and losing money.
Invest in Property Management
You should consider contracting with a property management service to avoid the above scenario and others like it. Their main services include the following options.
Tenant Screening
A great source of stress for landlords is renting to people with poor rental histories. Investing in property management services allows potential tenants to be screened before seeing your property.
Eviction Services
You no longer need to worry if an eviction is legal. The property management company removes the stress and fear of getting tenants out of your rental unit.
Rent Collection
In-person rent collection is a thing of the past. Property management companies utilize the latest technology. Tenants pay their rent and submit maintenance requests through an online tenant portal.
Rent Stress-free
Instead of landlords being stressed over an unhappy tenant, let someone else who is more skilled with tenant relations take the call.
Ashburn Property Management team ensures landlords are following the rules and not getting taken advantage of by tenants. Leave the stress at the door and contact us today for a FREE rental analysis.
