Managing A Large Rental Property

by Administrator 6. December 2017 14:16

A great deal of time and effort goes into managing a large rental property. While some property owners prefer managing their rental properties by themselves, others prefer to hire a professional rental property manager.

Repairs and maintenance, landscaping, rent collection, advertizing, finding tenants, etc. all come within the ambit of property management. Here are some great tips that will help you manage your large rental property effectively and economically.

  1. Smart Landscaping - Landscaping is a major part of maintaining your property as it adds to your rental property’s appeal. However, you should try to make landscaping strategic and time saving. Plant lots of trees, flowers & shrubs and keep the lawns small for easier maintenance. Fire pits & small fountains are a great way to beautify the exteriors of your house and also they demand less maintenance. Plan your exteriors in such a way that you keep your tenants happy and minimize your workload. That’s what smart landscaping is all about.
  2. Tractor Power - Tractors are highly versatile and efficient machines when it comes to large rental properties. They are very powerful and can tackle a major chunk of maintenance work in the least amount of time. A tractor with a high horsepower is something you must invest in for mowing, clearing bushes, ploughing, spreading fertilizer, etc.
  3. Delegate - Managing large rental property involves delegation of duties. You must understand the value of sharing responsibilities for maximum efficiency. If landscaping is not your forte, hire a landscaper, sit back and watch your property transform. The same goes for technical jobs like plumbing, electric jobs, heating issues, other repairs and renovations. Delegate these jobs to experts and save your time.
  4. Secure Your Property - Installing a reliable security system to protect your rental property is an intrinsic part of managing it. Wireless security systems are inexpensive and easy to install. There are other options like magnetic door alarms and knob-touch alarm systems.
  5. Regular Maintenance - There’s no way around regular maintenance. You have to be disciplined and consistent with it and maintain a schedule for the same. Get timely checkups of major systems by planning in advance. Schedule the checkups with professionals like plumbers, electricians, a lawn mower, etc. and follow up. Nipping a problem in the bud will save you from high repair costs and give you peace of mind.
  6. Hire A Professional Property Manager - If managing large rental property by yourself seems overwhelming, professional property managers can come to your rescue and manage everything on your behalf. They can advertize for you, conduct host showings, collect rent, manage your rent, take care of repairs, landscaping, etc. These professionals are well trained at the job and know how to manage large rental properties in a way that saves time, energy and money.

We, at John Reider Properties offer property management services to our clients. For more information, visit 455 E. Central Texas Expwy, Suite 101, Harker Heights, TX 76548 or call at (254) 699 – 8300.