Avoiding Rental Property Management Disasters

Tips for Avoiding Rental Property Disasters 
If you are planning to be a Landlord you should know that owning and managing property is hard work and can be very stressful. All kinds of issues can occur, taking up your time, energy and effort, and possibly making you wish you had never become a landlord. Here are a few things rental property owners can do to ease headaches and help reduce the risk of having issues. They don’t always work, but hopefully they will be worth your while to implement and follow. 

Properties that are in good shape usually are treated better by your tenants. Everyone wants to live in a nice, clean place, and renters will probably take better care of your property if you’ve provided them a nice place to live. Try to do the work when you first purchase the unit and it’s still vacant — upgrades when you have a tenant inside will be a major pain for all parties. Items such as newer flooring, paint, appliances, window coverings and landscaping are good bets. They’re expensive, but hopefully you’ll thank yourself for needing to make fewer repairs down the road. 

Water issues are prevalent in all properties, and they can cause the most damage and be the most time-consuming issues to resolve. If the plumbing valves, supply lines, faucets, toilets or washer/dryer hoses haven’t been changed in years, it’s probably time to do that. An upfront investment lowers your risk of problems from a leak. 

Be attentive and fix broken items. If something breaks, work hard to resolve it quickly. Obviously water, gas or electric items need immediate attention. Broken appliances might take a few days or a week, but the quicker the response the better the landlord-tenant relationship. Sometimes it’s hard to get to non-emergency items in an expedient manner, but do the best you can to fix the issue. Ultimately your tenants will be much happier and better tenants. 

Treat your tenants with respect. All properties have “property†issues like the three above, but they also have “tenant†issues, which are a much bigger hassle and can take a lot longer to resolve. Treating your tenants with respect — and trying to resolve issues in an amicable manner instead of starting a fight — will hopefully have them return the favor toward you. As the landlord, it’s in your best interest to step up to the plate and make sure relations with your tenants stay on a good track. 

These tips aren’t easy or quick, and you’re never going to succeed at all of them all the time. If you work hard to keep on top of the issues it should make your landlord life easier, more profitable and with a much higher likelihood of success. 

Choose a professional management company. We are MLHS South Florida Inc and have been in the business of rental management and maintenance for more than 30 years with an impeccable reputation for satisfied Landlords AND Tenants. 

Contact us at www.MLHSSouthFlorida.com www.MLHSMiamiFloridaPropertyManagement.com www.HarrietMartinRealEstateTeam.com [email protected] 
305-256-2560 – 2 locations in Miami to serve you BETTER.