Check out these 5 ways that will help you reduce stress in property management.
1. Carefully Screen Your Tenants
Conducting a tenant screening report is crucial to ensuring you land high quality tenants for your property. A thorough screening process ensures that the potential tenants are reliable and suitable for the tenancy. Ultimately, it’s having great tenants that make for a great manager experience.
2. Collect Rent Online
Online rent payments provide multiple benefits for tenants and managers alike. An online payment platform will likely decrease late rent payments with multiple payment options and reminders and it will enable managers to see rent payment statuses in real-time. This will save you a lot of time and stress in chasing late payments and help you to avoid the hassle of handling hundreds of paper checks.
Many times the easiest way to get something done is to do it yourself. This strategy is fine as long as the workload is within reason. However, as your company expands the workload can likely become too much for you to bear alone. Delegating jobs wisely can relieve you of much work-related stress and actually allow you to reap greater results that have eluded you until now.
4. Deal with Repairs ASAP
Ignoring maintenance requests from tenants is unwise. Be proactive in completing work orders to avoid deterioration and the consequential decrease in property value. Additionally, maintaining beautiful units will increase tenant satisfaction and decrease the chances of losing money on vacancies. Happy tenants will contribute to your peace of mind and serenity.
Communication really is key to tenant and management satisfaction. Don’t allow grievances to brew under your radar. Reach out to your tenants consistently through emails or surveys to gauge their satisfaction and to catch any problems before they develop into greater ones.
The MyPortal by Payquad Solution:
Allow our sophisticated platform to help you reduce stress in property management. Payquad will provide you with multiple functionalities that will reduce your to-do list by half. From credit checks, to online payments, to digital maintenance requests and our communications module, your day will never have looked so easy! Sign up for a free demo today!