10 Property Management Tips That Save Landlords $1000s Every Year

Discover the essential property management strategies that experienced landlords use to maximize profits and minimize headaches.

1. Preventive Maintenance is Everything

The single biggest money-saver in property management is staying ahead of problems. A $50 annual HVAC service can prevent a $2,000 emergency replacement.

2. Screen Tenants Like Your Investment Depends on It

• Credit check (minimum 650 score)
• Employment verification (3x rent income)
• Previous landlord references
• Background check

3. Automate Rent Collection

Online rent collection reduces late payments by 40% and saves hours of administrative work.

4. Build a Reliable Vendor Network

• Consistent pricing
• Quality work
• Priority scheduling
• Better warranty terms

5. Document Everything

Photos, conversations, receipts - everything. This protects you legally and helps track property performance.

6. Regular Property Inspections

Quarterly inspections catch small issues before they become expensive problems.

7. Set Competitive but Profitable Rents

Research local markets monthly. Underpricing costs you thousands annually.

8. Create Clear Lease Agreements

Detailed leases prevent misunderstandings and provide legal protection.

9. Respond Quickly to Maintenance Requests

Fast responses increase tenant satisfaction and prevent small issues from escalating.

10. Track All Expenses

Use property management software to categorize and track every expense for tax purposes and ROI analysis.

These tips have saved our clients over $2 million collectively last year.