Has your hair started falling out? Maybe you're struggling to sleep or experiencing headaches. Over three-quarters of adults report these symptoms of stress.
Excessive landlord stress can affect your physical and mental health. Before that happens, use these tips. Become one of the most successful (and stress-free) landlords in Ewing, NJ today!
Catch Signs of Overworking
Know how to recognize signs of excess stress. Otherwise, your mood, digestive and immune systems, and cardiovascular health will deteriorate.
Signs of chronic stress include:
- Rapid breathing
- High blood pressure
- Heartburn
- Headaches
- Increased depression
- Insomnia
- Weakened immunity
- Pounding heart
- High blood sugar
- Stomachaches
- Tense muscles
- Irritability
- Anxiety
These symptoms can increase your risk of type 2 diabetes, stroke, and heart attacks. Learn how to better manage your stress. Try exercising, yoga, meditation, or journaling.
Review Landlord-Tenant Laws
Failing to comply with local, state, or federal laws can lead to fines and lawsuits. Avoid the stress of legal issues by reviewing New Jersey's landlord-tenant laws. These laws cover:
- Required landlord disclosures
- Small claims lawsuits
- Late fees
- Landlord access to rentals
- Tenant protections against retaliation
- Tenant rights to withhold rent
- Termination and eviction rules
- Security deposit limits and returns
Keep track of federal laws and regulations. These include discrimination and environmental health laws.
Invest in Tenant Screening Services
Tenant screening can help you avoid renters with a history of evictions. Already, 15% of American households are behind on rent. New Jersey renters are among the most who are struggling with payments.
If you own multiple rental properties, tenant screening can steal valuable time from your already busy schedule. Most do-it-yourself platforms only provide a "yes" or "no" recommendation.
For more comprehensive tenant screening reports, outsource. A property management company will check each applicant's criminal background, credit scores, and more. Use this service to choose trustworthy renters.
Use Property Management Automation
Use property management automation tools to avoid costly human error mistakes. For example, you can allow tenants access to an online portal. Allow them to submit inquiries, rent payments, and maintenance requests online.
Automate your responses to frequently asked questions. Quick responses will show tenants that you care about their concerns.
Start Outsourcing Management
You don't have to apply these tips alone. Instead, start outsourcing management. Hire a full-service property management company.
They can handle everything from property maintenance to rent collection. Relying on professional services will save you time and money. You can leverage your property manager's expertise to avoid making costly errors.
Their services can improve tenant living experiences. Keeping tenants happy can lead to more renewals.
Increasing lease renewals will improve your occupancy rate. You can maximize your earning potential and ROI without experiencing additional landlord stress.
Join Ewing's Successful Landlords
To recap, what's the key to becoming one of the most successful landlords in Ewing, NJ? Outsourcing! Partnering with an experienced property management company can help you avoid stressful situations.
Trusting a property manager's experience and expertise will maximize your profitability. Rely on our team at PMI Essential.
Leverage our 20 years of experience, state-of-the-art resources, and proven strategies. Contact us today to reduce your landlord stress!
