Do you get a headache every time you think about maintenance requests, rent collection, and tenant screening? As a landlord, your varying responsibilities can become a source of stress fast. Excessive stress can affect your mood, immunity, and cardiovascular health, putting you at risk of serious chronic conditions.
Before your stress levels rise, use these tips for landlords in Dallas, TX. With these stress management techniques, you can operate efficiently. Maintain a healthy work-life balance today!
Outsource Tenant Screening
Tenant screening reports don't always contain accurate information. In fact, 65% of the complaints the Consumer Financial Protection Bureau receives relate to inaccuracies. If you receive inaccurate information, you may choose an unreliable renter.
You may choose tenants who will damage your rental property. They may pay rent late.
Screening tenants alone can become stressful and time-consuming. Instead, outsource with tenant screening services. An experienced property management company can gather:
- Criminal background reports
- Eviction histories
- Credit scores
- Income verification
- Rental payment histories
This information will ensure you choose renters you can trust. You could even find great renters you want to retain long-term. Retaining renters can improve your occupancy rate and ROI.
Use Automation
Automation can save you time, money, and stress. Automate repetitive tasks you complete daily. These may include:
- Leasing documents
- Rent payments
- Maintenance requests
- Scheduling
- Emails
If you don't have access to automation tools, hire a property manager. They can set you up using proven processes.
Allow Online Rent Collection
Allowing online rent payments will save you and your tenants stress. You won't have to knock on doors to collect rent. Instead, you can confirm renters have paid online.
Consider giving your renters a four-day grace period. Instead of requiring them to pay on the first of the month, allow them to pay by the fourth.
If they pay after the fourth, the online portal can automate late fees. You won't have the stress of in-person confrontation.
Prepare an Emergency Fund
You can't anticipate every huge expense. Prepare for unexpected costs by creating an emergency fund. You can use this fund to cover maintenance and repairs.
Otherwise, outsource your maintenance needs to a property manager. They can hire reliable contractors on your behalf. Relying on their professional contacts can save you time and money.
Hire a Property Manager
You don't have to complete these tasks alone. Instead, hire a property management company. The best property manager can help you operate more efficiently.
Meanwhile, you can sit back, relax, and know your investment property is in good hands. If you ever need help, it's a phone call away.
Join the Top Landlords in Dallas, TX
If you want to become one of the most successful landlords in Dallas, don't do it all alone. Instead, hire a property manager this year. They can help you avoid unnecessary stress.
Evernest Dallas has helped landlords like you since 2008. We now manage over 16,000 properties for over 6,000 owners.
We can help you expand your rental property portfolios into new markets with hands-off management. We're dedicated to assisting you in maximizing the value of your rental property. Contact us today to request our full range of property management services.
