Tips on Being a Remote Landlord

One of the perks of owning rental property is that you’ll have a passive source of income that doesn’t require your constant attention. There will be matters that need your attention, but planning for them can simplify your property management experience. These tips will help you manage your property from anywhere in the world.  

Have a Plan for Filling Vacancies

The most time-intensive aspect of owning rental property is filling vacant units. You’ll have to market the vacancy and prepare it for showings. Once you start receiving inquiries, you’ll begin the process of screening your potential tenants. You won’t have to be on-site if you have a plan for dealing with this process. 

Set up marketing materials, applications, background check consent forms, and lease agreements for easy use. A friend in the local area can conduct showings for you, and you can do everything else digitally. You’ll simplify this process further by leaving everything in the hands of a property management firm.

Create a List of Professional Contacts

Assemble a list of trusted professionals in the local area and add their contact information to your phone’s address book. Your list should include landscaping companies, roofers, HVAC technicians, and other service-related personnel. 

When an issue arises with your property, you’ll already have the contact information of the appropriate professional.

Set Up an Easy Rental Payment Method

Unless you use a property management firm, you’ll need an easy way for your tenants to pay their rent. There are several websites and phone apps designed to manage these financial transactions. 

When choosing a payment processing company, read the terms of service. You’ll want to choose the company that charges the least fees while providing speedy and efficient service.

Leave Your Property in Good Hands

Reliable Property Management provides a full range of services to meet your needs. Learn how we can make property management easier for you when you contact us online or call (443) 869-3799.