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12 things that can waste a landlord’s time.

Being a “do it yourself” landlord involves a myriad of responsibilities that can often be time-consuming. This is why it’s imperative for those landlords not using a property manager professional to pay close attention to how they spend on their rental property. 

Here are the 12 most common items that DIY landlords report is an absolute time drain:

1.     Marketing Vacant Units: Advertising vacant units, showing the property to prospective tenants, and responding to inquiries can take a substantial amount of time.

2.     Showings: A landlord will easily spend up to 20-30 hours retuning calls and inquiries, scheduling showings, and dealing with “no shows,” as well as unqualified prospects.

3.     Tenant Screening: Thoroughly vetting potential tenants is crucial but can be highly time-consuming. Background checks, credit history, and reference calls can take significant time.

4.     Collecting Rent: For landlords who do not use automated systems, collecting rent manually monthly can take time and effort.

5.     Late Rent Payments: Chasing tenants for late payments is frustrating and time-consuming. Regular follow-ups and implementing late fees can eat into a landlord's schedule.

6.     Maintenance Requests: Handling frequent maintenance requests, especially minor ones, can be a significant time sink. Coordinating with contractors, scheduling repairs, and ensuring the work is completed satisfactorily can be demanding.

7.     Property Inspections: Regular inspections are necessary to ensure the property is well-maintained, but these can be time-consuming, especially if multiple properties are involved.

8.     Dealing with Complaints: Addressing tenant complaints, whether about noise, neighbors, or maintenance issues, requires time and effort to mediate and resolve.

9.     Evictions: The eviction process is lengthy and involves legal proceedings, court appearances, and potential confrontations with tenants, making it a significant time waster.

10.  Paperwork: Managing leases, legal documents, and property laws and regulations can take a lot of time, especially if done manually.

11.  Legal Issues: Dealing with legal issues, such as tenant disputes or compliance with changing regulations, often requires extensive resolution time.

12.  Accounting & Tax Preparation: Preparing for tax season, organizing receipts, and ensuring all financial documents are in order can be a significant time investment.

If the average landlord makes about $50 per hour; and spends 4-5hrs per month overall on their property; they are losing $200 - $250 worth of time that can be paying a Professional Property Manager. 

Management companies leverage property management software, experienced staff, and automate processes to streamline tasks saves and enhance efficiency. This allows them to do more than the DIY landlord for less out of pocket cost.

Contact GoldenWest Management

Tired of DIY property management? Losing time and money dealing with your rental property? GoldenWest promises a 30 day, satisfaction or your money back guaranteed! 

To get serious about professional property management, contact us today by calling (866) 545-5303 or click here to connect with us online.