Have you recently experienced headaches, stomachaches, and high blood sugar levels? Maybe your heart is pounding and your muscles are tense. These signs of excess stress can increase your risk of heart attack, diabetes, and other health issues.
Instead of letting stress affect your health, learn from the most successful landlords in Frisco, TX. Read on for the tips you need to better manage your landlord responsibilities!
Start Marketing Online
Having a rental property sit vacant for months can become a major source of landlord stress. Each month it's empty is a month you're losing thousands in potential revenue. The rental vacancy rate in the US is already 6.6%.
Avoid the stress of owning vacant properties by investing in digital marketing. Marketing properties online will expand your reach.
Use a mix of strategies, including search engine optimization, paid advertising, and social media marketing. Share high-quality photos and video tours to help renters fall in love with the listing.
Develop a Tenant Screening Process
Without a tenant screening process, you may select unreliable, even troublesome renters. They could become a new source of landlord stress. About nine in 10 landlords use tenant screening reports to choose great tenants.
These reports aren't always accurate or up-to-date. Outsource your tenant screening needs to a property management company.
They'll gather comprehensive reports that include criminal background checks and eviction histories. You can choose trustworthy renters you'll want to retain long-term.
Streamline Rent Collection
Collecting rent in person can become time-consuming and troublesome. Instead, use landlord tools like an online tenant portal. Allow tenants to pay online and automate payments.
You can automatically charge late fees to avoid the hassle in person. Choose a property management company for access to the best resources.
Create a Landlord Emergency Fund
You can't predict when a natural disaster will hit your property. Prepare for the worst by building a landlord emergency fund.
Use your online tenant portal to accept maintenance requests. Try to fulfill them as quickly as possible. Otherwise, delays could lead to frustrated renters and legal trouble.
Perform thorough rental property inspections at least once a year. Inspections will help you catch tenant negligence or damage early.
Hire a Property Manager
Avoid your landlord stress altogether by outsourcing. A full-service property management company can take over:
- Rent collection
- Accounting
- Maintenance and inspections
- Marketing
- Tenant relations
Leveraging their experience and expertise will save you time and money. You can discover ways to operate more effectively.
Choose a company with years of local property management experience. Their understanding of local laws and regulations will ensure you remain compliant.
You can leverage their local experience to discover new real estate investment opportunities. With their services, you can thrive in today's real estate market.
Join the Stress-Free Landlords in Frisco
Don't let your landlord stress cause your health to deteriorate. Instead, become one of the most successful landlords in Frisco, TX. Outsource to a property management company that can take over your landlord responsibilities.
Our team at PMI North Texas can relieve your stress. Rely on our 20 years of experience and state-of-the-art technology.
Our proven strategies can help you maximize your earning potential. Contact us today to better manage your landlord stress!
