As a landlord and property investor, you’ve doubtless got many responsibilities and things to consider for your portfolio of properties. For example, you’ll need to attend to repairs and maintenance issues raised by your tenants.
The thing is, even with just a single property, you’ll likely be busy trying to deal with all kinds of things each day. Sometimes, it can feel like there just aren’t enough hours in the day to do everything on your daily to-do list!
If that describes you accurately, the good news is there are some top time-saving ideas landlords like you can consider. Take a look at these examples for some inspiration:
1. Use A Property Management Company
Did you know that a property management company can provide you with the ultimate in time-saving?
All too often, landlords find they simply don’t have the time to deal with tenant queries or even find new tenants for their vacant properties – especially if they’ve got day jobs.
Property management firms can take care of those things and more, giving landlords the freedom to do as they wish in their days. Such companies also provide a valuable service to tenants, especially when faced with emergencies like leaking faucets or burst water mains.
2. Stick With Standard Paint Colors
One of the biggest mistakes that some landlords make is using an array of different colors for their properties. When you have two or more properties, it makes more sense to adopt a uniform approach to interior decor and use the same set of colors for each place.
Also, if you stick with neutral colors like whites, they are more affordable to purchase and so you can bulk-buy such paints without worrying about the expense.
Consider leaving a tin of paint in each property so your tenants can touch up any marked areas on walls or ceilings.
3. Get A Contractor To Landscape Outside
Whether you’ve got residential or commercial properties, one thing is for sure: you’ll likely have some homes or buildings with decorative features like lawns, shrubs, and trees outside.
As you can appreciate, maintaining such landscape features can take a lot of time and energy. If you’re a busy landlord, it’s something you cannot afford to do yourself.
In those circumstances, it makes more sense to hire a landscaping contractor. They can maintain lawns and prune shrubs and trees to ensure they are as healthy and well-maintained as possible.
4. Get Your Electrical System Checked Annually
As you can imagine, one of the essential functions of any property that must be in working order 24/7 is its electrical systems. Any damage to things like wiring, sockets, and light fittings can potentially render an entire system inoperable.
With that in mind, you should have an electrician check the entire electrical system in all your properties at least once a year. It doesn’t just add peace of mind for you and your tenants; it’s also your legal obligation as a responsible landlord.
5. Invest In Low-Cost Flooring
One of the most significant expenses landlords of all residential and commercial properties face is flooring. Carpets, tiles, and wood floorboards can all become worn after constant use – especially in high-traffic areas like hallways.
It’s for those reasons that you should strongly consider opting for low-costing flooring options. However, that doesn’t mean low-cost should equal low-quality!
You’ll easily come across carpet and other flooring outlets that provide heavy discounts on things like end-of-line flooring products or end-of-roll carpets.
6. Install The Latest Model Kitchen Appliances
Another common complaint that landlords typically have to deal with regularly is when kitchen appliances provided for tenants stop working. Often, the reason is due to using aging or outdated dishwashers, washers, and dryers.
While the initial investment can be high, buying the latest kitchen appliances for your tenants to use will lower your overall maintenance costs.
Moreover, brand new appliances will have little to no issues for the first year or so of operation. In fact, investing in well-known brands with a proven track record can result in your appliance maintenance being zero for several years after purchase!
7. Have A Contractor Carry Out All Repairs
One final time-saving idea to consider is using a contractor to carry out general repairs at your properties. Sure, you might be competent at carrying out most DIY repairs in your properties.
However, if you’ve often got a busy schedule, doing repairs and maintenance tasks yourself will divert your attention away from your schedule.