Time-saving strategies for busy landlords
Category News
As a property investor and landlord trying to maximise the return on your investments, every minute is valuable. The Jawitz Properties team has used their years of expertise in rental management to put together a list of five valuable time-saving strategies for South African landlords.
- Vet your tenants thoroughly
Doing some hard work before welcoming a new tenant into your property can save you significant time in the long run. While meeting a person can be a good gauge of their character and trustworthiness, you need to know more about them than how they present themselves. Your thorough research on a prospective tenant should include a credit check, previous landlord checks, an employment check and an affordability check, as well as checking the validity of the documents they provide you with. You can count on the Jawitz Properties team to take care of this process if you choose to. The team will give you a scorecard and recommendations relating to every would-be tenant.
- Inspect your property regularly
Inspecting your property regularly may seem like a chore, especially if you have to arrange such visits with your tenant. However, keeping a regular eye on your property can help to reveal small projects that need to be done - and prevent them from escalating into large, expensive and time-consuming undertakings. For example, if you notice a small water leak that your tenant may not have detected, you could potentially act now and prevent serious water damage and high water bills later. The Rental Housing Amendment Act makes an allowance for these inspections, provided that you respect the tenant's right to privacy and provide them with reasonable notice.
- Provide details when advertising your property
When you advertise a property to rent, you're sure to get a lot of messages - but you want these messages to be from serious prospective tenants, not from people asking questions about the property without being sure if it meets their needs. You can circumvent this by being as detailed as possible when advertising your property. Your advert needs to specify as much detail as possible, including the following:
- When the property is available
- How many parking spaces are available
- Whether pets are allowed
- How many occupants your property is suitable for
- Whether a deposit is required and how much it is
- Whether or not prepaid water and electricity meters are in place
Alternatively, you can rely on a trusted property practitioner to simplify the process of advertising your property and finding a great tenant.
- Use standard colours and fixtures
Every investment property needs maintenance from time to time, but you can cut down on the time needed to solve the problem by using standard paint colours and fixtures throughout the property - or throughout your investment portfolio if you own multiple properties. This eliminates the need to try and remember what the exact paint colour you've used is, and who the supplier of your fittings is.
Another great time-saving strategy is to have the details of a good plumber, painter, electrician and general handyman safely stored. Having these contacts before you need them rather than having to try and find reliable people when you need immediate help will save you both time and stress. DIY tasks and maintenance aren't the only jobs you can outsource. If tasks like bookkeeping and filing SARS returns are not your forte, outsourcing them will free up time and relieve potential stress.
- Enlist the services of a top-notch rental management company
A rental management company takes responsibility for much of the hard work and facilitation associated with being a landlord, from finding and screening tenants to arranging repairs and maintenance. The Jawitz Properties rental services division has your needs covered for both short and long-term rentals. We focus on securing the best possible price for your rental property and use our expertise to help you capitalise on your investment.
If you'd like to chat more about the real way to manage your property investments, get in touch with the Jawitz Properties team today.
Author: Jawitz Properties
