DIY Landlord VS Professional Property Management [Infographic]

Being a landlord isn't easy. In effort to save more money, many landlord attempt to manage their own properties. But this result in more expenses and time spent, leaving landlord with large bills and unhappy tenants. Here is the infographic of DIY Landlord vs professional property management.

LEASING

Set The Rent - Identify similar units in the neighborhood and determine a rent that is comparable

Advertise - Advertise online and in the paper. Depending on the market, vacancies can easily last 2+ months, so be prepared to update your advertisements weekly to keep them at the top of online searches.

Phone Screen Applicants - Before meeting in person, it's important to vet the applicants during 15-30 minutes calls to make sure they are suitable.

Show The Property - Whether it be through open houses or private showings, be sure to make your property presentable.

Screen Tenants - Background and credit checks are a must to ensure tenants take care of your property and pay on time. Choose a tenant that you can trust and notify the others that they have not been picked.

Set Leasing Policies - Security deposit, and fees - Plan ahead to make sure all of these policies are set upfront.

MAINTENANCE

Maintain Building's Major Systems on Regular Schedule - From changing furnace filters to cleaning gutters, something always needs attention. A well maintained home will add value to your home if you're planning to sell your house or for property investment purpose.

Maintain Landscaping - Be prepared to stop by on weekends to mow the lawn.

Make Minor Repairs - Whether it be replacing a lock or fixing a broken window, these 'minor' repairs can add up.

Contract with Service Professionals as Needed - Is there a plumbing leak? Be ready wih a trusted repairman for larger tasks.