Time. Everyone has the same amount of time in a day, a week, a month, a year. But not all of us use our time as efficiently as we could and when it comes to landlords and property management, every minute counts.

First, let’s talk about the simple strategies that will put minutes back into your day, such as—

• Getting and staying organized, so you don’t waste time searching for the necessary paperwork, telephone numbers, or receipts.
• Another simple tip is to handle the mail only once –when it arrives. Don’t succumb to the trap of glancing through the mail and pushing it aside to deal with later. Instead, sort it immediately, tossing the discards into trash or recycling. Respond as needed to the rest. If it is something you need to deal with later, date it, and put it in a well-organized, easily accessible “to-do” tray.
• Then there’s the issue of email. Popping into your inbox repeatedly throughout the day when you don’t have the time to respond and adequately deal with each message is a timewaster. How about setting aside one or two times each day for handling new messages.
• Likewise, block out a time to return calls when you have the necessary info handy, so you won’t have to make a second or third return call.

Now, let’s address the big-ticket items that, over time, can save a landlord substantial time.

Reduce tenant turnover

One of a landlord’s most time-consuming pursuits has to be finding new tenants. Not only does finding and screening potential tenants swallow up a landlord’s time, but an empty rental property also brings in no revenue while still incurring utility costs, cleaning and maintenances expenses, as well as listing fees. The bottom line is that decreasing turnover will save time and money. So, spending time learning what encourages tenants to stay and following through can, ultimately, be your best option.

Properly vet tenants

One way to impact turnover rates is to establish an effective vetting process. This crucial step in the process of finding the most suitable tenants for your property(ies) will save a landlord from any number of complications and hassles down the road, all of which can be incredibly time-consuming. Yes, background and credit checks and contacting references do take time, but in the long run, this vetting process saves time by leading you to hassle-free renters with the potential to be long-term tenants.

 Invest in quality appliances

The installation and maintenance of quality appliances will save both the landlord and the tenant from the aggravation of frequent breakdowns. No appliance will last forever, but quality products should mean fewer repairs. Replacing aging, less-than-reliable appliances will not only lessen those frantic late-night or early-morning calls it will also impact tenant retention.

 Communicate virtually

Utilizing the wonders of technology can save a landlord time in so many ways. Texting can be a handy way to check-in with tenants. A video call offers a convenient way to discuss and view a maintenance concern without traveling to the property. Sharing seasonal or lease information with tenants via email affords a quick method of contacting multiple tenants at once. Tenants will feel they are a priority when you extend a variety of avenues for contact. And once again, it’s a factor that will influence retention.

A few minutes saved here, several hours saved there. It all adds up to more time for the landlord to spend with family and friends.

About Rentals America

Rentals America provides full-service property management for residential rental properties. Our team is completely dedicated to property management and we’re here to help landlords navigate the rental market.