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For landlords, managing even just one property can take an entire day. From talking to potential tenants to dealing with late-night emergencies, landlords need all the time they can get. After all, for the self-employed, time is money.
The problem is that not everyone is good with time management. This important skill can spell the difference between having a few extra hours to yourself and being exhausted and drowned by work.
So how do you make the most of your time when managing your properties in Perth and beyond? Here are a few helpful tips for landlords.
To-do lists are important in any kind of job. For landlords, having a list of daily tasks can take a huge burden off your shoulders. If you don’t have a to-do list, you’re likely to forget a few details. This is simply undesirable, especially if what you forget is that termite infestation in one of your properties!
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What’s great is that you can use a variety of tools in making your to-do list. You can go for the traditional pen and paper, or you can also take advantage of technology and use your smartphone or computer- there are hundreds of brilliant apps and softwares out there. A key thing to remember here is to also allocate time in your daily schedule to attend to your needs. Don’t overwork yourself. Take a break and make sure you’re in good shape to take things head-on.
Even if you’re only managing one or two properties, you’ll quickly get your hands full with all the details. That’s why one of the best decisions a landlord can make is to hire property management companies Perth to help take care of the nitty-gritty. These include finding and interviewing potential tenants, arranging viewings, collecting rent, dealing with paperwork, conducting regular property inspections, and hiring contractors for repairs, among others. With the help of reliable property managers, you can be as hands-on or hands-off as you like without worry.
Further reading for landlords:
As a landlord, you probably receive tons of messages everyday. These can come from your property managers, tenants, potential clients, and more. It can be tempting to go through them immediately as they come in, especially if you’re the type who can’t stand a cluttered inbox. However, checking your emails and other messages as soon as you receive the notification is counterproductive. Instead, dedicate a block of time solely for this task. It could be in the morning or evening, but make sure to allot an hour or so exclusively for this. Don’t worry about emergencies; if there are any, you’ll likely receive calls about them and not emails.
Speaking of setting aside some time for checking messages, it’s also a good idea to do similar tasks at the same time. For example, you could schedule all your phone calls in the morning. Doing this can help put you in the right frame of mind and get tasks done faster, instead of alternating between different types of tasks. A good tip is to organize by priority so you can get the most important things out of the way first.
Try as you might, you simply can’t do everything at once. Again, make sure to prioritize and get the most important things done ASAP. If there are things that can be rescheduled, don’t be afraid to reschedule them. Packing your schedule to accomplish tasks for the sake of accomplishing them will only drive you crazy. Be kind to yourself and don’t try to squeeze in too much within a day. Remember that you have to take care of yourself in order to become an effective businessperson.
Being a landlord can be taxing, yes, but it can also be rewarding without being overwhelming. Hopefully, these tips can help you manage your time better and be more productive.
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