We recently conducted a survey where homeowners identified the pain points of self-managing their rental properties.
Here’s what we found. We’re also sharing some tips on how you can resolve each of them. https://one.rent/7b283
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Top 5 Problems of Self-Managing Homeowners and How to Deal With Them
1. Top 5 Problems of
Self-Managing Homeowners
and How to Deal With Them
2. Managing rental properties isn’t as
simple as collecting a check every
month. In fact, self-management
requires more time, patience,
money, and hard work.
Here are the top 5 problems of
self-managing homeowners and
how to deal with them:
Source: onerent.co/blog
This material is designed to convey information only. Any information
here is not intended to provide legal advice and should not be taken as
such. Consider obtaining legal advice from your attorney about any
decision or contemplated course of action.
3. Property Maintenance
A property concierge's roles such as answering calls or
emails for maintenance can be difficult for homeowners
with full-time jobs or other priorities.
Limit unwanted maintenance calls by having an agreement
that renters can only call during business hours.
Think long-term. Find ways to make your property homey,
even if it means investing in year-long renovations. Properties
in mint condition need less repairs.
Tips:
This material is designed to convey information only. Any information here is not intended to provide legal advice and should not be taken as such.
Consider obtaining legal advice from your attorney about any decision or contemplated course of action.
Source: onerent.co/blog
1
4. Managing Renters
From setting rules to dealing with property violations,
managing renters can take up most of a homeowner’s time
and energy.
Send your renters a notice with specific violation details once
they broke lease terms.
Craft clear and specific lease agreements. Highlight and be
as specific with every detail in your terms.
Tips:
This material is designed to convey information only. Any information here is not intended to provide legal advice and should not be taken as such.
Consider obtaining legal advice from your attorney about any decision or contemplated course of action.
Source: onerent.co/blog
2
5. Leasing Negotiation
Negotiating lease terms can be tedious and time-consuming
with lots of back and forth between homeowners and renters.
Be open to changes. Decide which terms of the lease you can
put on the table for discussion.
Provide clear move-in documentation. This records the actual
condition of the property before the move in.
Tips:
This material is designed to convey information only. Any information here is not intended to provide legal advice and should not be taken as such.
Consider obtaining legal advice from your attorney about any decision or contemplated course of action.
Source: onerent.co/blog
3
6. Rent Collection
This is one of the more dreaded tasks homeowners face,
especially when dealing with a non-compliant renter.
Remind your renters of rent collection. Make sure to send
the reminder at least 5 days before the due date.
Use e-payment methods. Electronic payments make recording
transactions easier for you and your renters.
Tips:
This material is designed to convey information only. Any information here is not intended to provide legal advice and should not be taken as such.
Consider obtaining legal advice from your attorney about any decision or contemplated course of action.
Source: onerent.co/blog
4
7. Risk of Evictions
Everyone wants to avoid the risk of eviction whether they’re a
homeowner or a renter. The legal process and costs associated
with an eviction are two of the most common pain points.
Gather all recorded data for proof. Documentation such as
screenshots of emails or e-payment records can help serve as
evidence of non-payment.
Meet with your renter. Have a one-on-one discussion and find
ways to resolve issues.
Tips:
This material is designed to convey information only. Any information here is not intended to provide legal advice and should not be taken as such.
Consider obtaining legal advice from your attorney about any decision or contemplated course of action.
Source: onerent.co/blog
5
8. Keeping tabs on your rental
properties will take up your time,
energy, and resources.
There’s always a better way to
manage your rental properties.
Source: onerent.co/blog
This material is designed to convey information only. Any
information here is not intended to provide legal advice and should
not be taken as such. Consider obtaining legal advice from your
attorney about any decision or contemplated course of action.
Let the expert help you take
care of your property.
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This material is designed to convey information only. Any information here is not intended to provide legal advice and should not be taken as such.
Consider obtaining legal advice from your attorney about any decision or contemplated course of action.
Source: onerent.co/blog