Join the 3,000 people getting fresh weekly insights about proptech and the real estate industry.

 

The holidays are here and much like your renters, you probably have plans of your own to celebrate the season. While it’s one of the best times to take a break, you may be wondering if you can afford to do so as taking care of your residents as well as your property requires you to be available 24/7. 

Even as the holiday is something to look forward to, there are many concerns for property owners. Christmas tree fires, burglary, or damage to your property are some of the overwhelming and costly potential risks your property could face during this season. 

We’ve put together a shortlist of property management tips for landlords that you will find practical and easy to implement in preparation for the holidays. This will help you navigate a worry-free and enjoyable downtime without neglecting your renters or your investment property.

 

 

 

1 – Do Preventive Home Maintenance

 

Lighted indoor and outdoor decors that consume large amounts of electricity can put your property at risk of damage by fire. At least 200 home fires every year are attributed to Christmas trees, according to the National Fire Protection Association (NFPA). Another cause of home fires is unattended cooking which can happen when people are busy preparing several dishes. Conduct maintenance checks to ensure that electrical circuits can accommodate additional electrical load and smoke alarms are working properly to help prevent fires.

Guests staying over for vacation would mean a surge in the use of electricity, water, and heat. Make sure the plumbing system is intact and the fixtures are working without leaks or clog. To prevent your renters from keeping their heat on throughout the day, do some minor fixes around the house to build upon heat much faster. These include cleaning the filter in heaters, fixing the thermostat control, sealing gaps along window sills, and installing door sweep on doors.

 

 

2 – Beef Up Your Property’s Security

 

Break-ins spike during the Christmas season because burglars are aware of the potential loot awaiting them. This type of crime, along with personal larceny, increases by 20% compared to the same period of the previous year, according to a report by National Crime Victimization Survey (NCVS). Often, residents unknowingly attract burglars with their visual display of expensive indoor and outdoor decors or holiday packages as they unload them in the driveway or at the curb.

 

man break in

 

Deter potential burglary by adding a layer of protection to your property. Use more outdoor lights, security cameras with wider capture, door stop alarms, motion detector alarms, and infrared alarm systems. But don’t just focus on sophisticated alarm systems, also check the entry points for burglars to ensure you’re not giving them easy access to your home. These include front and back doors, first and second-floor windows, garage doors, basement, and sheds or storage areas.

 

 

 

 

3 – Provide Options For Rent Payments

 

With plenty of gatherings and celebrations going on, it is easy for your renters to lose track of their budget and overspend.  If they plan to travel, rent will get paid until they arrive. So help your renters manage their finances by giving them temporary options to pay their rent. You may suggest accepting payment by post-dated check, debit or credit card, money order, or wire transfers. Adding a clause in your lease agreement about options to receive advance rent in certain conditions will ensure that their tenure is protected and your cash flow remains intact.

 

 

4 – Communicate Holiday Plans With Your Renters

 

Talk to your renters about their plans to find out if they’ll be leaving or staying for the holidays.  This will give you the chance to remind them of safety policies and measures so you don’t have to worry about that when you’re enjoying the holidays. If they are traveling, you could schedule a home visit to check on locks and security systems or provide assistance to secure holiday packages they expect to arrive while they are out. 

Present and agree on an emergency plan, including how to reach each other if both of you will be away. If you appointed a representative in your absence, provide your renters with all the contact details of this person. And as a good gesture, commit to resolving maintenance issues before the holidays so you can both enjoy the break without having to think about unaddressed home repairs.

 

 

5 – Appoint a Property Manager

 

One of the best things you could do for yourself and your renters, not just for the holidays but throughout your rental business operations, is to work with a high-quality property manager that has the technology and full-stack services provided by an efficient support team. 

A reputable property management company should be able to provide 24/7 maintenance support to take urgent calls from renters and respond quickly to them on your behalf. During emergencies, they should be able to address any repairs and keep you in the loop through a homeowner dashboard.

Choose a property manager that will not only provide seasonal support for your business but also deliver an end-to-end gold standard of service for a unique renting experience, such as Poplar Homes.

 

 

Final Note

 

To enjoy the holiday season with peace of mind, both you and your renters must exercise diligence and commitment to shared responsibilities in protecting your property which is also their home. When you keep each other’s best interest in mind, you also gain each other’s trust, improving your homeowner-renter relationship.

Property management is no easy feat for people who value freedom, health, and time for other important things like family and personal endeavors — things that also need your attention. Poplar gives you the privilege to choose how you spend your time without sacrificing your investment. They make it happen for you with services like tenant placement that ensures you, high-quality renter, automated rent payment assures rent is paid on time, 24/7 maintenance to keep your home up to code with zero markups on repairs, and real-time income that lets you track investment performance.

As a self-managing homeowner, know that property managers like Poplar Homes are your business lifeline that you can rely on to support you not only during the holidays but in the entire lifespan of your investment.

 

Enjoy your holiday break without the guilt of neglecting your renters