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Top Landlord Tips to Know in 2019 and Beyond

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.

1. Upgrade your rental appliances

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.

2. Take advantage of apps

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.

3. Always be on the lookout for rental scams

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

4. Make your rental more energy-efficient.

By improving energy-efficiency, you save more money and spend it on much-needed expenses. Here are some things you can do: 

  • Seal and caulk outlets, windows, doors to prevent air leaks.
  • Switch to energy-efficient light bulbs.
  • Plant trees around your rental home.
  • Install attic insulation.
  • Have your furnace inspected and fixed by an HVAC technician.

5. Create a plan for dealing with natural disasters

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.

6. Amp up your rental property photos

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.

7. Spend your time wisely

When it comes to maximizing your income, productivity plays an important role. Learn to manage your time efficiently using these strategies:

  • Prequalify potential renters over the phone.
  • Before you check a potential tenant’s background, check the application first. Did he fill it out completely? Does the information tell you that he qualifies?
  • Swap carpeting for hard floors. Hard flooring is easier to clean.
  • Create an inventory list before tenants move in.

Final Thoughts

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.