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5 Smart Property Management Tips for Landlords

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Property management involves more than just ensuring that your space is properly cared for. Ask any landlord and all will definitely agree that property management takes a great deal of handling or controlling: of funds, files, property, and people.

Whether you’re planning on leasing your single family houses or apartments in Lawton, you need to prepare yourself for the challenge of managing your space.

If you are looking for ways to efficiently and successfully manage your properties, here are five smart tips from Stevens Realty to help make your job smooth sailing and your tenants happy.

  1. Organize your tasks.

Establishing a regular routine will help you run your property in a seamless manner. As the landlord, you need to organize your duties by creating a work schedule to make your tasks (e.g. arrear, repairs, and outgoings) easy to handle. For instance, you can do repairs at least three times per week or follow up arrears at least twice a week.

  1. Moderate rents.

Moderating your rent will cost you lesser than a month or more without a tenant. Since rents differ widely in different states, make sure to ask around, do some research, and find out if you are pricing competitively. Also, determine if the rent will be enough to cover your costs. Plus, ensure that you know the rate of return you are getting on your property investment.

  1. Train your staff.

To ensure success in your business, it is essential that all members of your property management team remain on the same page. This means that the level of service delivered to your residents should be consistent at all times. To ensure that your team delivers exceptional service, make sure that your staff members are trained to handle tenant problems and issues in a professional way. They should also know and understand your policies and procedures. Always remember that empowering your staff with visual knowledge and trainings will improve their ability to do their job effectively.

  1. Document all issues.

As the landlord, you need to document all procedures and policies for handling tenant problems or complaints such as forms of communications, warnings, notices, and expected response times. Also, make sure to record, save, and note every little detail (both bad and good), including emails, phone calls, and text messages from tenants and homeowners. This way, you can create incident reports and conduct incident reviews with your teams.

  1. Beautify the space.

Prospective tenants don’t just look for investment property purely for functional purposes. They also consider the aesthetics of the place. As the landlord, you can make tenants fall in love with your property by cleaning it up, adding some landscaping, and doing necessary repairs to make the space aesthetically appealing.
Here at Stevens Property Management, we offer high quality apartments and houses for rents at affordable prices. As a trusted Tennessee property management firm, we can help you find the home or apartment that meets your needs and budget.

(3) Comments

  1. Tyler Meredith

    on   said 

    I like the recommendation to beautify the space. It makes sense that it would be good to make the home prettier because it would allow for more tenants to check it out. I’ll have to keep this in mind because even outsourcing the management and landscaping would make the home better than doing it myself. Thanks for the post!

    Reply
  2. Seamless

    on   said 

    Hello, Thanks for the giving such a nice information about property management .I really like it & It is very helpful to us.Keep up the great work. Please share some ideas about residential property management services and student housing property management services.

    Reply
  3. Chris Winters

    on   said 

    Paul, I can definitely see how documentation would be an important aspect of property management. My wife and I have been planning on investing in real estate in order to make some extra money for our family. I think that it would be much easier to find a property management service to help to make sure that our potential tenants are satisfied.

    Reply

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