Feeling stressed? You're not alone. 34% of American adults feel that their stress has reached overwhelming levels.
One particular type of occupation can be especially stressful: being a landlord. Landlords have to deal with changing property laws, taxes, costly mortgages, and unruly tenants. If you manage rental properties in Davie, FL, what are your options for managing your stress?
Take a deep breath. Here are a few tips for Davie landlords on keeping that stress in check.
Prioritize Yourself
If you're feeling overwhelmed, the best stress relief for landlords is to just take a step back. Do some meditation, take a walk, or whatever works for you. Here are ideas for things that may help relieve stress in a tough moment:
- Drinking hot tea
- Hitting the gym
- Calling up a friend
- Going out for fresh air
Don't be afraid to temporarily set something aside, even if someone is kept waiting. Once you've taken a break, you'll be much more able to tackle the current problem at hand. Landlord stress management starts with recognizing that you're a person, and you have needs.
Show Tenants Your Human Side
Sometimes, it's tempting to be business-only around your tenants. However, don't be afraid to show them vulnerability. They know that you're a busy person like they are, and they'll be more likely to understand if they empathize with your situation.
Get an Online Portal
The key to reducing your stress is lightening the load on your shoulders. Change outdated, inefficient processes to speed things up and give yourself more time. One of the easiest ways to do this is to start using an online portal.
Online Portal Benefits
An online portal can be a 24/7, one-stop shop for paying rent, submitting maintenance requests, and more. It spares you a lot of time and back-and-forth. Plus, it's far more organized than relying on texts and mental to-do lists.
Most importantly, it's convenient. 76% of Americans prefer online shopping on their smartphones, according to Pew Research. Logically speaking, then, they prefer to pay their monthly due online, not with a check.
Hire Property Management
Many landlords feel their stress spiraling out of control as they acquire more investment properties. You're a one-man show, and one man can only handle so much. Hiring property management in Davie may become a necessity.
Property management takes care of all the tedious stuff for you. They collect rent, handle maintenance requests, correspond with tenants, and tackle any conflicts that arise. Think of it as giving yourself an extra pair of hands.
Although it costs money, your time is far more valuable. Getting back those extra hours in the day will be well worth it.
Work with PMI
Landlords get stressed out just like anyone else, and sometimes arguably even more. Manage your stress by taking appropriate breaks when necessary. Consider getting an online portal if you need one, and hire property management when it all gets to be too much.
PMI Best Assets in Davie is your cheery local property management company. Just look at our customer testimonials, and you'll find that we are friendly, professional, and knowledgeable. Use our free rental analysis tool to see how much you could make with us.
