Time-Saving Tips for Managing RentalsJune 19, 2018
Nowadays we are flooded with overwhelming information in our daily lives. Staying on top of rentals can sometimes seem like too much, given all our other activities. With such busy lives, today many landlords are left with no time for themselves.
Though we can’t help much in the personal department, we can give you a few life hacks for managing rentals. From the daily grind of marketing properties and managing leases, to emergency midnight phone calls and the difficulty of managing tenants, the good news is: It can be easier! Put our tips into action, and you can reduce the time spent on your rental, which will give you more time to spend somewhere else—hopefully relaxing!
1. Start with a List
You’ve probably heard this before, and the advice is still good. The power of lists goes beyond imagination. When you make a list your efficiency rises. With a list of things you need to accomplish in a particular day or week right before your eyes, you won’t need to keep that info in your head indefinitely. You’re no longer left with the annoying feeling you’ve forgotten something. And with all of your tasks clearly laid out so that you don’t forget anything, you’ll be a better landlord. Keeping the list on your phone or in a planner will work, but studies have shown that a simple pen and paper is all you need.
Make sure to prioritize things on your list so that you know what needs to be done first. Emergency requests from tenants should jump to the top of your list. But that doesn’t mean you have to put off your personal needs. Take a daily lunch break to rest your mind and body, and fortify yourself for the rest of your workday.
2. Avoid Multitasking
It’s likely that people who claim multitasking leads to more productivity never had an audit of their results. Most people who think they’re effective multitaskers are simply doing their tasks poorly. Starting one task and then leaving midway through to start another isn’t an effective way to get things off your list. What if you’re trying to make phone calls and make repairs at the same time? The result will be an unfinished repair and a misunderstood call. Besides that, getting back in the zone isn’t a function the brain performs quickly. P, so work on one task at a time, please.
3. Group Similar Tasks and Break Up Big ones
When you add a task to your list, look through the rest of your tasks to see if any are alike and can be taken care of at the same time. For example, when you start your day you could reply to all emails at once. Then move on to tenant issues or maintenance requests. Once you start a task, give it the attention it deserves. As a result, you will see your productivity increase.
If one task is putting you off because it’s going to take a lot of time or energy, try breaking it into smaller pieces. Work on one of these smaller tasks each day, and eventually you’ll be done. It’s much easier to do a little each day than struggle with the whole task at once. You’ll waste too much energy that way. People are productive only the first five to six hours per day.
4. Make technology work for you
So you manage properties. Have you heard about cloud property management systems? It’s like a virtual assistant that’s always by your side. In the beginning we talked about lists and keeping too much data in your head. A simple solution is to use one of those cloud property management systems and save your lists there. Combine your tasks with calendar events and receive automatic notices. With TenantCloud you can have your information right at your fingertips. Create a to-do list and set lease expirations, automated equipment or appliance reminders, appliance warranty expirations, insurance renewals, tenant’s renters insurance, and other customizable events that make managing rentals easier. This could potentially save you a lot of time.
Have team members? Communicating with them as to what needs to be done and when can be challenging. With TenantCloud you can create to-do list items for team members as well. Once you create a task, you can assign a team member, schedule the event due date, and the task will be added to their calendar. Plans changed? No problem. Edit the already-existing reminder right from your dashboard panel. You’ll always have your important tasks in one place and keep your calendar clean at the same time. That’s how technology can work for us!
5. Minimise Interruptions
Last but not least, try not to be interrupted. Even if you have the best list and the best property management system, it won’t work if you’re distracted every two minutes. It’s vital to learn how to manage unnecessary interruptions. Whether you’re distracted by colleagues, hot sales leads on the internet, or a political debate with your neighbor, it’s important to discipline yourself.
However, as we said at first, it’s good to take breaks and chat to refresh your mind. Scheduled breaks bring more relaxation and can improve productivity.
Have you found better solutions than ours? Share your experience! We would love to hear any tips you have to share.