Being a Property Manager isn’t an easy task, but it certainly is rewarding. There’s always going to be room for improvement, and what better time than the New Year to set some goals! Here are some ideas to get you started.
Have and Build And Emergency Fund
This one is important! Having an emergency fund for each of your rental properties will alleviate any stress you might have if you have surprise repairs to make! It’ll also come in handy when your rental units and property are vacant. Here’s a great post we did on tenant repairs, what you are and aren’t responsible to give you an idea about how much you need to save, just in case!
Connect With Other Property Managers
It’s really important to have a network of like-minded individuals. You can learn a lot from others experience that’ll help you increase profit and build your reputation. It’s easy to do this with Social Media, we’ve outlined some of our favourite property managers to follow in this previous post to get you started!
Spend More Time With Friends and Family
Having a happy family and close circle of friends is good for everyone. Take some time for yourself, your family and your friends to unwind and connect. It’ll keep you level-headed and able to get things done with a smile on your face.
Switch to Online Payments
If you’ve ever experience late rent, a bounced cheque or a tenant who just can’t make their rent this month – it’s time for a change! Collecting rent online is the easiest way to ensure that it’ll come in on time, every time. It’ll also save you time from collecting and depositing cheques from your tenants, which will open up time for the more important stuff! Head to our website here to find out how you AND your tenants can benefit from collecting rent online.
Check in With Your Tenants More Often
Besides corresponding with your tenants when things aren’t working properly, it’s important to check in with your tenants every couple of months. Open communication is key in keeping a happy and healthy relationship with your tenants. We did a previous post on different ways to connect with your tenants online that’ll make this resolution a lot easier!
Happy New Year!