Landlords have a lot on their plates. Between finding and screening tenants, collecting rent, maintaining the property, and dealing with emergencies, it can feel like there’s not enough time in the day. Thankfully, some tasks can be handled by the landlord themselves without having to call in a professional. In this blog post, we will discuss what landlords can DIY and when they should call in the pros!
Screening Tenants
One of the most important things landlords can do is screen their tenants. This includes running a credit check, criminal background check, and checking references. While it may be tempting to skip this step to save time, it’s important to remember that your tenant will be living in your property, and you want to make sure they are responsible and will take care of your property.
Collecting Rent
When it comes to collecting rent, landlords have a few options. They can collect rent online through a service like RentPayment, or they can collect rent in person. If landlords choose to collect rent in person, they should have a system in place to ensure that rent is collected on time and in full.
Maintaining the Property
Landlords are responsible for maintaining their property and keeping it in good condition. This includes tasks like painting, repairing broken appliances, and mowing the lawn. Landlords should have a regular schedule for maintenance to ensure that their property is always in top shape. However, there are some maintenance tasks that landlords should not attempt to DIY and should instead call a professional. For example, if there is a blocked drain on the property, they need to call a local drainage company to clear it.
There are some tasks, however, that landlords should not DIY. These tasks include:
Emergencies
If there is an emergency at the property, like a broken pipe or a fire, landlords should not try to handle it themselves. They should call the appropriate professionals to deal with the situation.
Legal Issues
Landlords should not try to handle legal issues on their own. If there is a problem with a tenant, like non-payment of rent or damage to the property, landlords should consult with an attorney to find out what their legal options are.
Accounting
Landlords should not try to do their own accounting. This is a complex task that requires knowledge of tax laws and regulations. Landlords should hire an accountant to prepare their taxes and handle their financial affairs.
Hiring Employees
Landlords should not try to hire their own employees. This includes handymen, painters, and cleaners. Landlords should use a professional service like Handy to find qualified professionals to work on their property.
Marketing the Property
Landlords should not try to market their property themselves. This is a complex task that requires knowledge of SEO, social media, and online advertising. Landlords should use a professional marketing company to help them promote their property.
As you can see, landlords have a lot on their plate. Some landlords try to take on too much and end up biting off more than they can chew. But by knowing what they can DIY and when to call in the pros, they can make sure that their property is always in good condition!
