Education and news for smart DIY landlords!
Now is the best time to think about new strategies to implement and existing ones to improve. Whether you’ve met your rental property business goals last year or not, here are seven tips to make 2019 a prosperous year.
While there are plenty of things you can upgrade in your rental, appliances are the first things that new renters notice. Get rid of half-functioning appliances that are hard to fix, and replace them with durable ones. Choose appliances that come with warranties.
Do you do everything offline? Market your rental property, collect rent, remind your tenants to pay, monitor your expenses… and so on. These tasks can be time-consuming, which is why apps are there to automate the process.
Tenant fraud happens in many ways. Potential tenants use fake identities in rental applications. They blame others for their poor rental history or credit. They’re unable to pay their rent on time and always come up with excuses.
Read More: Landlords Beware: 8 Ways a Tenant Can Scam You
By improving energy-efficiency, you save more money and spend it on much-needed expenses. Here are some things you can do:
Strong winds, tornadoes, and hurricanes can wreak havoc on your rental business. No matter where you’re located, it’s best to prepare yourself for natural disasters. Get insurance that covers damages caused by disasters in your area. Make your rental more weather-proof by installing durable structures -- for example, your windows and roof.
If you have leases that are going to expire this year, consider improving your photos for your next listing. Get rid of old photos that you kept on using for many years. Here are ways to take better pictures of your rental.
When it comes to maximizing your income, productivity plays an important role. Learn to manage your time efficiently using these strategies:
These are just some of the many ways to make your investments work this year. These are huge opportunities to succeed and attract good tenants long-term. Check out more of our helpful landlord tips:
If you’re ready, make Landlord Prep your go-to resource for landlording education. Here, we offer a complete DIY landlording course to get you on the right track. Join our academy today. If you want, you can check out Flavia’s real estate investing webinar first.