Being a landlord is more than managing property; it’s a people job. You have to deal with tenants, employees, and contractors. The thing about people jobs is this: they are messy. You can come into work with a plan and have it completely derailed by an emergency or an troublesome tenant. Staying on top of your business so that it can survive is no easy task. If you don’t have some level of organization, important things will start to fall through the cracks and your rental business will suffer.
In our last blog, we explored some ways you can prioritize all the challenges coming your way. Another important part of surviving as a landlord is having the ability to manage your time well. When you have control of the way you handle your time, you can be more productive and efficient. If you’ve never done it, we recommend you analyze the way you spend your time each day. How much of it is going down the drain?
Time Management Tips for LandlordsWhen you’re a landlord, there’s always something to do. The thing is, you can be busy all day and still not be using your time very well. Your job is probably full of distractions, which greatly inhibit your ability to be effective as a landlord. Here are some ways to keep control over your days.
Break large tasks up into smaller ones.
Write down plans for your days, weeks, and months.
- Dedicate time to emails and phone calls. This may be your favorite part of the job, or you might hate it. Either way, creating a time dedicated purely to communication will allow you to respond professionally to inquiries and more. We recommend you set this time in either late morning or late afternoon when the people you need to contact will be most available.
- Dedicate your afternoons to meetings, property inspections, and other activities that will take you out of the office. Instead of communicating with your team and tenants whenever they interrupt you, dedicate time to meeting with them. They will have to wait until the meeting to talk to you, which will reduce distractions and interruptions in your day.