Landlord Hacks: Save Money, Time and Sanity!
With all the changes Los Angelean landlords and investors have experienced recently, we have compiled a list of hacks to make your property stand out. These action steps will save you time, money, and your sanity!
Use Same Materials for Multiple Properties: If you have multiple properties, use the same paint, flooring, cabinets, and hardware on all of them. It saves on time searching for new materials, it’s easier to keep up with, and it develops consistency for your business.
One paint color makes turnovers easy. There’s no need to be flashy here. Paint all walls, trim, and ceiling the same color to present a clean, professional look while saving money and time. It’s also easier and faster on turnovers.
Get rid of the carpeting. Hardwood and laminate flooring lasts longer than carpet. It’s also way easier to keep clean and saves you money in the long run. Therefore, it’s worth the initial investment.
Use Inexpensive Tile. Tile lasts for years and does a better job protecting against water damage. It helps properties look better, rent faster, and get more money than vinyl flooring.
Switch to LED lights. LED lights are far more efficient than incandescent lights and they last longer too. You will save money on your energy bill and won’t be asked to change a lightbulb as often.
Insure Your Appliances. It’s often cheaper than the in-store extended warranty to buy an insurance plan that covers, repairs and replaces appliances.
Plant Low Maintenance Gardens. Use mulch and weed control on your low maintenance landscaping so you don’t have to keep up with it as often.
Retain Your Tenants. Set aside a couple times to casually check in and chat with your tenants, send birthday cards or $5 gift cards goes a long way to developing a good relationship with quality tenants.
Invest in Landlord Software and Apps. Make filing and paperwork easy on yourself. Digitize your business to keep track of finances, property checks, and lease agreements.
Use Home Rentals LA to Fill Vacancies. Home Rentals LA is offers landlords free marketing, photography, showings, applications, credit checks, and background checks.
Life can get really busy for landlords and real estate investors who are trying to juggle their investments, their family, and often their full time job. Use these hacks to save time and money, and stay organized.