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Owning rental property can be a great source of passive income, but it’s not without its challenges. Many landlords—especially first-timers—make costly mistakes that hurt profitability and create unnecessary stress. Here’s a look at the most common landlord mistakes and how to avoid them.
1. Not Screening Tenants Thoroughly
One of the biggest mistakes landlords make is rushing to fill a vacancy without properly screening tenants. A bad tenant can lead to unpaid rent, property damage, or even legal trouble.
How to Avoid This Mistake:
✔ Run credit and background checks
✔ Verify income (tenants should make at least 3x the rent)
✔ Contact previous landlords for references
➡ Related: Tenant Screening 101: How to Find Reliable Renters
2. Pricing the Rent Too High or Too Low
Setting the wrong rent price can lead to financial loss. Overpricing leads to vacancies, while underpricing leaves money on the table.
How to Avoid This Mistake:
✔ Research comparable rental prices in your area
✔ Adjust for seasonality (rents fluctuate throughout the year)
✔ Offer move-in incentives if needed
3. Neglecting Maintenance and Repairs
Ignoring small repairs can lead to expensive problems down the road. Tenants also become frustrated when landlords fail to address maintenance issues.
How to Avoid This Mistake:
✔ Conduct routine inspections to catch problems early
✔ Build a network of reliable contractors
✔ Respond to tenant repair requests promptly
➡ Related: Essential Maintenance Tips to Protect Your Investment Property H2: 4. Not Knowing the Law
Landlord-tenant laws vary by state and city. Failing to comply with legal requirements can result in fines or lawsuits.
How to Avoid This Mistake:
✔ Learn fair housing laws and security deposit regulations
✔ Have a legally sound lease agreement
✔ Consult a property management expert if unsure
➡ Related: Understanding Fair Housing Laws: What Every Landlord Must Know H2: 5. Managing the Property Alone When It’s Too Much to Handle
Many landlords underestimate the time and effort it takes to manage a property. If you own multiple properties or have a full-time job, self-managing can be overwhelming.
How to Avoid This Mistake:
✔ Hire a property management company to handle tenant issues, rent collection, and maintenance
✔ Outsource tasks like accounting and legal compliance
✔ Focus on growing your investment portfolio instead of dealing with day-to-day operations
✅ Need help managing your property? Contact BRS Property Management today!
(586) 932-2660
Final Thoughts
Avoiding these common landlord mistakes will save you time, money, and stress. By pricing correctly, screening tenants properly, keeping up with maintenance, and understanding the law, you’ll be well on your way to a successful rental business.
📢 Want expert property management tips? Follow us on YouTube for insights from Jason Garvan of BRS Property Management!
