There are many instances when landlords are away from the property they are renting out. Some inherit property from their deceased loved ones; others invest in vacation houses; some have to move to a different state but want to keep their rental property in their current state going. Whatever the case may be, being a landlord to a remote rental property is often very challenging.

Being a landlord is already a big task on its own, but doing it from a distance makes it two times more difficult. That is why it requires being strategic and organized.

Let me share a few tips on becoming an efficient landlord, even if you are far from your rental property.

Have a reliable team in the area

Rental properties are challenging to manage even when you are near. Just imagine how much more difficult it is when you are not. That is why the next best thing is to have reliable people in the area to who you can delegate tasks. They will represent you and your business in your absence. That is why you have to make sure that you can trust them to protect your interest.

Recruit rental agents who are determined to fill in all your vacancies efficiently and quickly. It’s a good sign if they use Padleads to publish listings because they can syndicate it to popular rental websites, which means it’s faster for them to find leads. Ensure that they always conduct a thorough screening process and that they know the qualities you are looking for for your ideal tenants.

Hire property managers who are professional in dealing with tenants and efficient in handling tasks. Remember: how they conduct themselves will reflect you and your business.

Be reachable

Just because you have representatives in the area doesn’t mean that you leave them to it, with complete freedom to decide. Communicate to them regularly and be clear about what decisions to consult with you first and which ones they can decide on their own. You need to call the shots but collaborative. A good relationship with your rental agents and property managers is one of the most vital factors that would affect your business’ success.

Go when you can

Whenever possible, meet your team personally and check the property yourself. Review the common tenant complaints recorded and how your team responded to them.

If visiting often is impossible, ask them to request an evaluation from tenants regarding their living experience in your rental property.

Iron-clad lease agreement

Review your lease agreement with your lawyer and rental agent. Make sure that it has safeguards in place to manage liability and that all the terms are in accordance with all state and federal housing laws. This also prevents constant back-and-forth negotiations with future tenants which is more difficult because you are far.

Automate Payments

Make the process of collecting payments simpler by setting up an online system that tenants can log in to, to pay their rent each month. This makes payments easier to receive and monitor.