We’re often sharing lists and insights for saving money, avoiding mistakes, and growing your rental property investment business. But let’s not forget about your most valuable asset – your time. When it comes to operations and managing your rental property, preserving and streamlining your time is just as beneficial as your bottom-line revenue. And today, we’ll offer some ways you can improve your time management practices.
1. Time Management Starts by Keeping Good Records
When you keep well-documented records, and we mean everything, you don’t have to waste time trying to search for data and information later. Software solutions help, so make sure you’re using every available tool in the arsenal, from digital docu-signing to tenant dashboards. When you have all the information at your fingertips, organized and easy to access, you won’t ever spend precious time searching later. Additionally, it’s a time management best practice that comes in especially handy when processing evictions and come tax time.
2. Proactive About Preventative Maintenance
If you prefer to spend your wee hours of the morning sleeping and comfortable at home, you’ll want to get proactive about preventative maintenance with your rental property. Here’s what we mean. For example, when you do get those 2:00 AM calls from renters, it’s usually because there’s an exploding toilet or water in the basement. You can avoid those emergency calls if you are proactive about maintenance efforts on your property.
Have the routine inspections to gauge the life of aging units and structural materials. Know the potential risks of leaking pipes before they burst. And you’ll stay ahead of many of those late-night calls, preserving your much-needed sleep time, and improving time management.
3. Keep a Schedule for Everything
It’s not uncommon for property investors to keep tight schedules with their contractors and potential renter showings. But if you really want to take back your time, get good at scheduling everything, not just those specific appointments. Document rent-paying schedules, reminders to initiate emails to tenants, networking opportunities, and marketing ad campaign renewals. You should even schedule your free time away from the business and keep those life-balancing appointments with yourself.
4. Outsource Redundancies for Improved Time Management
How many to-do list tasks do you manage daily? Weekly? Monthly? Now how many of those could be outsourced to a professional property manager? Imagine how much time you could take back with the right partner. When you work with PMI JCM Realty Group, for example, we’ll handle everything from managing your vacancy listings, processing applications, pre-screening tenants, collecting rent, scheduling contractors, and enforcing evictions. That leaves you all that newly liberated time to focus on what matters, like pursuing other properties to grow your portfolio or relaxing and enjoying your free time. Having the right rental property manager is the ultimate time management hack.
Consider these time-management improvements to help streamline your rental property operations. And give us a call whenever you’re ready to get all your time back!
At PMI JCM Realty Group, we’re always highlighting the latest in rental property tips, along with emerging trends right here in Tampa’s real estate market. If you’re ready to drastically improve your landlord-tenant experience and bottom line, sign up now for our free webinar. There you can find relevant strategies for rental investment success. It’s a must-watch webinar, too, with real-world advice and actionable insights, like How to Streamline Your Rental Portfolio for Maximum Growth! Local property investors, both in Tampa and beyond, who are just like you, will always find something useful to apply.
Don’t forget to connect on social with us, too! There are always answers to the most pressing rental management investment questions within our Facebook group. Join the popular and ongoing conversations and collaborate! Feel free to reach out to other professionals who are looking to achieve similar portfolio ROI objectives with their property investments. Exchange suggestions and ideas with fellow owners, and talk about emerging challenges with other rental property investing professionals. And should you have unique questions that may require a more in-depth or tailored solution, schedule a meeting on my calendar; let’s chat!