It’s that time of year again. You may have already put in for your holiday vacation with your day job, but as an individual landlord that handles your own property management, you could find yourself struggling for the best way to balance travel and your rental business this season.
If you’re traveling, hosting, or just finding it difficult to get everything done, we have you covered with some tips on balancing life during the holiday season and property management! Let’s start with what you should watch out for.
Issues That May Pop Up During the Holidays
One of the primary issues landlords face during the holidays is property damage. Here are a few potential issues you should keep in mind:
Between holiday cooking that could spark a kitchen fire, Christmas trees with faulty lights, and candles all around, fire damage to your property can be a heightened threat during the holiday season.
Sudden Temperature Drops
If your property is located in a climate where the temperature will drop below freezing, this can cause stress on the property’s pipes. If they burst, the water could damage not only your property, but your tenants’ belongings as well.
In addition, cold weather can create other hazards such as slick walkways and snowdrifts that make it difficult to get out if there’s an emergency.
If your property is vacant due to tenant turnover or merely because your tenant is also traveling for the holidays, this can make the property a prime target for burglars.
Ways to Protect Your Property
Not every tenant will know what to watch out for or even, in cases like a burst pipe, realize something is wrong until the damage has been caused. If they’re out of town as well, that heightens the risk. There are steps you and your tenants can take to get ahead of the problem.
- Send out an email highlighting potential dangers to the property during the holiday season so your tenant is also aware
- Handle any preventive maintenance that needs to be done before you or your tenant leave
- Beef up indoor and outdoor security on your property to prevent burglary
- If possible, appoint a property manager to care for your property while you are away or provide the tenants with a number they can reach you in case of an emergency
- Add outdoor lighting for clear illumination to prevent injuries during holiday celebrations
- Conduct the necessary safety checks
Communication can go a long way during this busy time of year. Let your tenants know if you’ll be out of the office and remind them of your expectations, policies, and measures to keep the property safe and secure.
Finding Balance Between Your Rental Business and Personal Life
The holidays can be a stressful and busy time, but we have put together several tips on how to find balance between your rental business and your personal life.
Determine Your Priorities
Before going on holiday, it is important to set priorities. These should strike a balance between work and your time off so you do not feel overwhelmed with burnout.
Work with a Strict Schedule
As mentioned before, preparation can help to minimize some of the risk while everyone is traveling. You can use a calendar, planner, or other relevant tools to help you monitor your schedules efficiently so that you can have everything in place by the time the holidays roll around without having to rush to get it done.
Create Boundaries Based on Your Priorities
Setting appropriate boundaries will allow you to handle your responsibilities without sacrificing your holiday time. Start by setting limits on the time you will spend. Once you create boundaries, stick to them. This can help you achieve your goals without feeling overwhelmed.
You will also wan to communicate boundaries when it comes to your tenants. While a maintenance emergency should be communicated immediately, a minor repair may need to wait until you return. Make sure your tenants are aware what constitutes a maintenance emergency.
The Bottom Line
To enjoy the holiday season with peace of mind, consider looking for strategic ways to help you balance your work and holiday activities. Don’t let the hectic work schedules stop you from enjoying your holiday. Add those extra steps to enjoy your holiday, freshen up, and acquire more energy to become more productive when you resume work. Here are helpful tips for multiple topics in the rental industry that can boost your productivity and business growth.