We all love tips and advice that make our everyday lives easier right? Especially those who are at the very start of their landlord journey. We’ve put together a list of three landlord hacks that all you need to know, no matter where you are on your journey!
Landlord Hacks #1: Go Digital
One of the first landlord hacks is having an efficient and fast digital solution. Going digital and using software like ours, can help you keep organized and automate a lot of the important processes that usually take time and attention to detail. These processes can include collecting rent, rent reporting, maintenance request tracking and lease executions.
As a landlord, you’re responsible for a lot of important documentation that has to be kept securely. Make sure you invest in the proper software and/or digital infrastructure as it is a huge benefit!
Landlord Hacks #2: Plan Maintenance In Advance
Reactive maintenance can usually be quite expensive. Despite the high expense, this is a necessary action that needs to be tended to for the tenant. However, it also helps to think about maintenance in advance – things like checking and treating for mould and checking locks and doors are in good condition are early preventative measures that would be beneficial to check on regularly and fix before there’s a costly accident.
You can also use Prophub software to track and log maintenance requests so that everything is kept in one place!
Landlord Hack #3: Stay Educated on Landlord & Renter Rights
Saying educated on your state laws may seem intimidating but it’s absolutely necessary, especially if you’re a new landlord. In a worst-case scenario, you may encroach on a potential renter’s rights and face legal repercussions. You also never want to forget your own rights as a landlord.
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Read our previous blog post here: When Should You Be Selling Your Rental Property?