How To Make Tenant Management More Hands Off
Make no mistake about it, owning rental properties is a great way to enjoy monthly cash flow while building wealth but if your tenants are not hands-off, and they require a lot of work, this can make being a landlord seem like it’s more work than what it’s worth.
Thankfully, the good news is that it’s easier than you think to find hands-off tenants, especially when you follow these tips.
Tip #1 – Screen For Longevity
The first way to find a tenant that’s going to be someone who doesn’t require a lot of attention or care regularly is to look for someone who shows signs of longevity. This means that they’ve stayed with their previous landlords for more than one year and can be counted on to pay their rent on time each month.
You still want to call a tenant’s former landlords to confirm if they paid their rent on time each month and didn’t make a lot of fuss.
The reality is that if a tenant has stayed in one rental property for more than a year, and they haven’t moved around a lot over the years, these are excellent signs that the tenant is someone that a landlord may want to rent to,
A tenant can’t fake their rental history for long because a landlord will eventually analyze that rental history and learn the truth about the tenant.
Tip #2 – Automate Rent Collection And Lease Renewals
Let’s face it, rent collection and lease renewals are two of the most important parts of being a landlord because they involve cash flow.
To make being a landlord as hands-off as possible, landlords should automate lease renewals and rent collection because doing this will ensure that rents are paid on time each month and leases are renewed like clockwork on an annual basis.
The good news is that there are plenty of online solutions to assist landlords with both of these parts of property management. Companies like AppFolio offer excellent tools that landlords can use to automate rent collection/lease renewals.
Tip #3 – Hire A Local Property Manager
Last of all, but most important, another key thing that landlords can do to automate tenant management is to hire a local property manager like Rent Portland Homes – Professionals.
At Rent Portland Homes – Professionals, we specialize in tenant screen, placement, rent collection, maintenance more!
For more information about the services that we can offer you, contact us today by calling (503) 447-7735 or click here to connect with us online.