Top 4 Tools For DIY Landlords

Posted On Thursday, 02 June 2022 09:43

Landlords have diverse roles and responsibilities, which goes much more than collecting monthly rent from tenants. In fact, they have to regularly implement the cleanliness and safety of their properties to make it habitable. More so, these individuals have to adhere to all establishment codes, perform necessary repairs, and keep all vital services to retain their clients.

As a Do-It-Yourself (DIY) landlord, you have to invest in effective tools to maintain your rental properties. Doing so enables you to immediately fix any maintenance issue to ensure the comfort of your tenants. If you continue to meet their demands, they might write positive reviews about your rental business, which may help you attract more prospective clients.

In this article, you’ll learn the four most valuable tools you may use to succeed as a DIY landlord.

  1. 1. Property Management Software

Since you’re managing rental responsibilities on your own, traditional property implementation methods won’t help you cover everything. Fortunately, an all-in-one property management software for landlords allows you to stay organized and forecast business progress. Therefore, you must consider investing in this tool if you’re not planning to outsource a professional property manager.

This landlord software carries full bank, property, and tenant accounting features that would provide you with accurate records. In addition, this platform includes online rent collection that allows your tenants to set up one-time rent payments through secure systems. Furthermore, you can conduct tenant screening reports that can give a clear image of the financial and criminal background of your rental applicants to help you find the best tenants.

Another outstanding feature of this tool is its ability to provide your tenants with a special mobile app where they can submit maintenance requests. Also, this software develops appealing rental property listings for your vacancies, which allows your prospects to communicate with you. Moreover, you can use the general ledger accounting systems to easily monitor your income and take the guesswork out of property and tenant accounting.

  1. 2. Complete Simple Repair Toolset

As a DIY landlord, you wouldn’t want to waste your time waiting for a technician to repair manageable property issues. That said, you need to have a basic toolbox that would enable you to complete simple repairs in case of emergency. These high-quality tools need to come in a variety of sizes that can be used for small tasks and easy fixes to immediately cover tenant demands.

Your basic toolbox must include nails, screws, hammer, wrench, tape measure, pliers, duct tape, flashlight, utility knife and pest control supplies. You may add more items in your toolbox if you’re more hands-on with your maintenance. These items may include voltage tester, multimeter, and wire splicing tool so you can easily fix electrical issues around the vicinity.

If you want to be an effective landlord, you have to eliminate unnecessary expenses by taking care of aesthetic maintenance on your own. Thus, you must invest in items like drop cloths, touch-up paint, brushes, rollers, paint tray, drywall tape, patching compound, pressure washer, lawn mower, and shovel. Additionally, you must have cleaning supplies on hand to clean up after repairs, such as a mop, bucket, spray bottle, vacuum cleaner, dish soap, ammonia, and window cleaner.

  1. 3. Home Staging Tools

Staging a home is an effective tool usually used by top realtors as they try to sell an empty property. As a DIY landlord, using this strategy enables you to provide your prospective tenants with images so they can imagine furniture and belongings in an empty space. In turn, you encourage these individuals to move towards their decision about renting in your property.

With the help of home staging, your vacant property can be set apart from the competition. As a result, you’ll gain the opportunity to increase rent since you have better pictures for online listings. Furthermore, your prospects will spend less time on viewing since they can already imagine what it would be like renting in your properties.

As a DIY landlord, you have to invest in your own home staging tool kit to ensure the success of your property marketing strategy. This kit consists of scissors, lots of different tapes, box cutters, razor blades, cleaning supplies, nails, screws, and a steamer. More so, you need to invest in a high-quality smartphone or camera so you can take and edit mesmerizing photos of your vacant properties to attract ideal tenants.

  1. 4. Property Inspection App

Regular rental property inspections create a channel for tenants to communicate their demands to the landlord and for landlords to read their rules to the occupants. As both parties work towards making necessary property improvements, the rental property becomes a safer and healthier place to live in. As a result, the property can attract more high-quality tenants in the future and sustain the existing ones.

With a mobile property inspection app, you can move in and out inspections to save you from untimely repair costs. This tool allows you to walk through an inspection activity on your smartphone and capture images. Once you receive the report, you may digital store it until you need it again, which prevents future losses.

Key Takeaway

Being a DIY landlord is a challenging task, especially if you don’t have readily available tools to conduct property maintenance activities. Fortunately, using these four tools would help you effectively manage your rental property services instead of outsourcing tasks to other agencies. As a result, you’ll eliminate expensive service costs and you can immediately provide resolution to manageable repair issues.

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