By RPM Central Valley
MODESTO, CA – As a landlord you know that one of the most important things you can do is to treat your Modesto Rental Property as a business but there are 4 easy mistakes that you can make at your rental property which can easily hurt the cash flow that you’re enjoying from your rental property.
#1 – Not Following What’s Happening with the Modesto Rental Market
As with any business you have to follow what’s happening with the market, and the same rule applies with your Modesto Rental Property, you should be following what’s happening with the local rental market including rental trends or new amenities other landlords are offering their tenants so you can improve your rental properties (if needed) and offer more value to current/future tenants.
#2 – Not Making Your Rental Property Rent Ready
If you just purchased another Modesto Rental Property one of the first questions you should ask yourself is this: “is my rental property rent ready?” because, if the answer is no, then you should go back and reevaluate your rental property and ask yourself what needs to be changed or improved before you start marketing it to new tenants.
#3 – Not Screening Your Tenants for Your Modesto Properly
Another huge mistake that many landlords make is not screening their tenants properly. Don’t let this happen to you. Take the time to screen each tenant and thoroughly review their credit score, background, employment history and references before choosing them to rent your Modesto Rental Property.
#4 – Not Budgeting For Unexpected Costs
Last of all, but most important, in order to properly manage your Modesto Rental Property you have to budget for unexpected costs and be ready for anything including repairs, maintenance or upgrades which may need to be made to your rental.
Take the time to budget at least $70 per month for maintenance and you will never be left scrambling for an extra $1,000 if a water heater needs to be replaced, or something else needs to be repaired that you don’t have the cash flow to repair right now.
Get Modesto Property Management
For affordable Modesto Property Management contact RPM Central Valley today by calling us at (209) 572-2222 or click here to connect with us online.