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How to Be a Happy Landlord

Posted : 18/04/2016 | By Amanda Hosking

Becoming a landlord can be hard work and can sometimes lead to an uneven work-life balance, with more focus being on work and less time for home life. This can cause stress and you may become over-worked.

Here are some tips for stress free living and how to keep work separate from home life.

Stay organised

Organisation is key to staying stress free. Make sure to set yourself reminders on your computer or phone for upcoming renewals, inspection dates, meetings etc. This is extremely helpful as you can plan your week and if you forget any event you will be reminded on the day with a notification.


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Accept Help

If you are struggling to manage your properties on your own do not be afraid to accept help. Consider hiring a professional such as a lettings agent or property manager to take some of the workload off yourself. This will mean you will have more time to focus on important tasks and more time for home life.

Be extremely thorough when vetting tenants

To ensure you are getting the best tenants possible, be very thorough when vetting them. You should always do credit checks, ask for proof of identity and charge an admin fee. You should also find out what the tenant is looking for, their budget and who they will be living with. Assess all of this information before choosing your tenants.


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Always have a guarantor in place

This is essential as if for any reason the tenant cannot pay the rent the guarantor is obligated to pay it for them. Not having a guarantor can lead to the loss of money which may not be recovered.

Treat property management as work

To keep property management separate from your home life it is a good idea to set up a workspace dedicated to this work. You could have an office room or a desk space. Try to do most of your work here and when you leave the work space leave the work with it.


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Plan out set times to work on property management tasks

Set yourself certain times dedicated to property management work. For example, 10am – 3pm. It is useful to assign a task to each time. This will ease stress levels as you will have a set amount of time available to do the required work and the rest of the time free for home life.

Make use of these tips for a steady work-life balance.