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4 Rental Property Management Tips for 2022

Did you know that 80 percent of property managers have to perform maintenance on buildings or manage that maintenance on top of collecting rent? That can be an overwhelming amount of work for anyone.

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Having all of that to do for tenants can make it more difficult to offer quality services for tenants, but there are some tips that can allow you to have a better year in 2022. Let us look at the top tips that can make rental property management easier and better for tenants.

1. Rental Property Management: Keep Up With Maintenance

The longer you ignore maintenance, the worse the issues will get in the building. A problem that might have been minor can grow and become more expensive and complex to deal with.

You want to remember to perform maintenance checks regularly. It can take a bit of time, but it ensures that you catch any potential issues before they get worse. You will be saving money and time in the long run.

2. Be Responsive to Tenants

Once you have tenants in your rental properties, you need to be sure that you keep them happy so they will renew their lease in the future. That is something that requires communication. Property managers have a responsibility to respond to messages from tenants in a prompt manner.

If a tenant sends a maintenance request, you want to respond to it within 24 hours. Not only will you retain your tenants, but you will ensure your reputation is a positive one for future tenants.

3. Rent to Pet-Owning Tenants

If you rent to pet-owning tenants, you will widen your client pool. People with pets tend to have a harder time finding places to rent, so you can make your property much more attractive by making this possible for them.

To be able to do this in a way that allows you to benefit, as well, you can charge a pet fee on top of the regular rent. If the pet causes any damage to the property, you can use this pet fee to make the necessary repairs.

4. Draft a Lease

Without a written lease, which can let tenants know exactly what to expect and what is expected of them, tenants can behave as they please. They need to know what the consequences of defaulting on rent payment are, for example.

In the written lease, you want to address rent, occupancy limits, repairs, maintenance, deposits, and anything else you need them to know.

Have a Better Year

Rental property management is a complex process but it can be rewarding. You can offer people places they can call home and make a tidy sum doing so. With tips like drafting a lease, keeping up with maintenance, and more, you can ensure you keep your tenants happy and make your job a bit easier, too.

To learn more about property management, turn to our Real Estate page!

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