THINKING BEING A LANDLORD IS EASY? THESE 10 MISTAKES WILL SHOCK YOU
So, you’ve just bought a property and you’re ready to become a landlord. Congratulations! π But before you pop the champagne, let’s spill the tea: being a landlord is NOT as simple as collecting rent and smiling to the bank every month. It can be rewarding but only if you avoid the classic traps that first-timers fall into.
At Curbvista Group, we’ve seen it all:the good, the bad and the “why on earth did they do that?” So, let’s dive into the top 10 mistakes new landlords make and more importantly, how to dodge them like a pro.
1. Skipping Tenant Screening (Biggest Rookie Move!)
If you think any tenant is a good tenant, think again. A bad tenant can turn your dream investment into a nightmare;late rent, property damage and even legal drama.
β The Fix: Always screen tenants. Check their rental history, creditworthiness and references. At Curbvista Group, we use a strict vetting process so you only get responsible tenants who pay on time and respect your property.
2. Not Having a Solid Lease Agreement
Some landlords still do handshake deals. BIG mistake. A lease is your legal shield,it protects you when things go wrong.
β The Fix: Draft a detailed lease agreement that covers rent, maintenance responsibilities, penalties for late payment and termination conditions. (P.S. We create airtight agreements for all our clients.)
3. Underestimating Maintenance Costs
You collected the first rent and feel rich until the water heater breaks, the roof leaks and the plumbing calls for an emergency repair. Suddenly, your “profit” disappears.
β The Fix: Budget at least 10% of your rental income for maintenance. We also offer preventive maintenance schedules to catch issues early before they drain your wallet.
4. Charging the Wrong Rent
Too high? Your property stays empty. Too low? You lose money every month.
β The Fix: Research the market or let us do it for you. Our team analyzes location, amenities and market trends to set the perfect rent attracting tenants without undercutting your returns.
5. Not Knowing Landlord-Tenant Laws
Imagine evicting a tenant the wrong way and getting sued. (Yes, it happens often.)
β The Fix: Understand local laws or partner with professionals who do. We handle compliance so you stay out of legal trouble and sleep peacefully at night.
6. Delaying Repairs (a Quick Way to Lose Good Tenants)
Ignoring maintenance issues not only frustrates tenants but can cause small problems to become expensive disasters.
β The Fix: Respond promptly. Our 24/7 emergency repair service ensures your property stays in top shape and your tenants happy.
7. Not Insuring the Property
Fire, floods, theft they happen. If you’re uninsured, you’ll be paying out of pocket.
β The Fix: Get proper landlord insurance. We guide our clients to the best options so their investment is always protected.
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8. Mixing Business with Emotions
Some landlords get too friendly with tenants, others too harsh. Both can backfire.
β The Fix: Stay professional. Or better yet, let us be the middleman keeping things smooth and stress-free for both sides.
9. Poor Communication
Unanswered calls. Ignored messages. This is how small issues blow up.
β The Fix: Clear, professional communication is key. Our property management platform keeps everything transparent;rent reminders, maintenance requests and updates in one place.
10. Thinking You Can Do It All Alone
Managing a property sounds easy until you realize it’s a full-time job. Most landlords burn out trying to juggle everything.
β The Fix: Hire a trusted property manager (hi, that’s us!) to handle the heavy lifting while you enjoy stress-free income.
Final Word: Don’t Just Be a Landlord,Be a Smart Landlord
Owning property should bring peace of mind, not headaches. At Curbvista Group, we take care of everything from tenant screening to rent collection, maintenance and legal compliance so your investment works harder for you.
π Ready to stop stressing and start earning? Let’s talk today.