Residents
Owners
A landlord’s job can be very stressful at times. They want to keep their tenant’s happy, their expenses low and they want their time and energy to be worth the income. With a full schedule of properties to manage and a never-ending to-do list, landlords can find themselves stressed out trying to juggle everything and separating each properties needs from the others.
It’s easy to get burnt out and work too hard but it’s always better to work smarter, not harder. Take the time out to refresh, organize and make sure your productivity makes sense. Don’t hit the hardware store for one property just to turn around the next day to work on something for another property; organize yourself to grab everything while you’re there the first time. Here are some more tips for stressed landlords.
Keep a to-do list that stays up-to-date
Your to do list is always going to be changing when managing so many properties. It’s easy to forget something so when you get a new item, add it to the list to remember later. You’ll be more efficient knowing what needs done today and what you’ll be doing tomorrow. Put it on your phone or get a planner and pen.
Outsource
If you’re overworked it might be time to outsource jobs. Whether you don’t like dealing with plumbing or you just don’t know how to fix roofs, it might be a good idea to outsource work when you aren’t comfortable doing it. You can even make a deal with your tenant that if they mow their own lawn then they can get a discount on rent.
Set Hours
You may need to set up your schedule to have a stopping point during the day or during the week. Have a set day that ends your week in which you are “off the clock.” This gives you a point that you know you need to get as much possible done by then and it allows tenants to respect your time off as well. Other than emergencies, don’t take requests during the weekend, your day off or after a certain time at night.
Be sure to stay educated on how to handle certain issues by listening to Landlord University podcasts or looking online. Be sure to limit how often you check your phone or email in order to have time to focus on your current tasks. Then you can consolidate your tasks at a better time of day.
These tips should lower your stress as a landlord.
