Operational Productivity Strategies for Overworked Landlords

If you are a busy landlord, then you will know how easy it is to try to stay on top of everything. With that said, there are things you can do to not only make your life easier, but also less stressful. By adopting productivity tools and making the right changes, you’ll find it easier to get more done in less time.

Plan Ahead of Time

The first thing you need to do is try to plan ahead of time. If you don’t know what you’re doing on any given day, then you’ll find it tempting to waste time. You may also come across things that have to be done later in the day, but as you didn’t plan for them, you now no longer have time to do them. Don’t let things like this happen by simply taking the time to outline the tasks you need to do every day. Doing this is the best way for you to get motivated, and it will also give you the chance to tick things off as you go. If you are having a difficult time planning what has to be done, using project management software is usually a good way to go, as you can create custom calendars that coincide with your tenants’ needs, and you can also create task lists for your business, which will help you greatly.

Avoiding Multitasking

As a busy landlord, you may find that you are always multitasking and that you never really catch a break. With that said, you should avoid doing this if you can, as it won’t be doing you any favors. Studies have shown that if you multitask, this can reduce your productivity by up to 40%, which is the last thing you need. This can result in you having more errors in your work, which can create frustration for your tenants. The next time you find yourself trying to do too much at once, take a second to prioritize. Make sure that you attend to one task at a time, and then move on to the next thing.

Use the Pomodoro Technique

If you feel as though you are drowning in paperwork for your property rental business, one thing you can do is try to use the Pomodoro technique. This is a great way for you to try to manage your time effectively, and if you are overworked, it could save you hours in the day. Divide your time by working in 25-minute increments, with each one being followed by a five-minute break. This is a great way for you to spend your days free from distraction, and it also means you can spend more time focusing on the task at hand. After you have done four cycles of this, you can then take a 20-minute break. If you don’t feel as though you can get enough done in 25-minutes, then this is understandable, but most of the time this will be enough to see you through. After all, making tenant calls, sorting documents, chasing rent, and more can all be done in that short of time. Downloading a Pomodoro timer app can be a good workaround here.

Use Screening Reports

Using tenant screening reports is a great way for you to cut down on the number of things you have to get done in the day. The best thing about using a tenant screening report is that your tenant can fill it out for you, using data from their previous homes, as well as their current income. You can also check the background of your tenant, and have easy access to the previous landlords that they have rented from. By assigning all of this responsibility to your tenant, you can significantly free up your time and make your renting process much more efficient. If your tenants are providing you with reports like this, all you have to do is sift through them and choose a tenant you feel aligns with your rental property and what you’re looking for in a tenant.

Automate Rent Collection

If you are still knocking on doors to try to get your tenants to pay, it’s no wonder you’re overworked. Collecting rent is one of the biggest time drains as a landlord. Late payments don’t just affect your cash flow; they also create stress and they also lead to having tough conversations. Using automated rent collection software allows your tenants to set up an automated payment with you, so you can make sure that you are collecting direct debits as well as making sure that you are getting your rent paid on time, every month. Many platforms send automated reminders if a payment is late, which means you don’t even have to chase manually. This frees up your time, and it allows you to maintain a more professional relationship with the tenants you serve.

Streamline Maintenance Requests

Maintenance issues are bound to happen, and the reality is that you can’t stop them. With that said, there are ways to make your life easier when dealing with them. If you want to help yourself when juggling lots of properties, make sure that your checks, energy reports, and even gas checks are all completed on time by using compliance software. This is a great way for you to stay organised, and it will also give you peace of mind knowing that you are fully meeting current regulations. It also means you can be sent reminders if you happen to forget that a report is due, or if you need to file documentation. By automating this, and by having a digital software that you can store everything in, you will find it easier to make sure that you are taking steps to not only keep your business afloat, but also make sure that you are not burning yourself out by doing too much. Although steps like this can seem small, when you add them up, you will notice a huge difference in your overall efficiency, as well as your productivity.