According to the American Psychiatric Association, over half of U.S. adults say stress has the most significant impact on their mental well-being. Many (77%) also say the current economy is something they're particularly anxious about.
Landlords in Smyrna, GA, may also experience elevated stress levels, given the highly demanding nature of property ownership and management. Furthermore, being a landlord itself has the potential to be a stressful 24/7 job.
Are you in the same boat? If so, it's time to take control with practical landlord mental health strategies. Our team at PMI Terminus has shared property management tips for achieving stress relief for landlords in Smyrna, so read on.
Pinpoint Common Stressors for Landlords
Smyrna landlords often juggle several roles, including being:
- A business manager
- A customer service representative
- A maintenance coordinator
- A bookkeeper or accountant
With all those roles, it's no wonder landlords face many stressors, including:
- Finding highly qualified tenants
- Handling tenant complaints
- Scheduling repairs and maintenance
- Keeping up with local rental laws and regulations
- Managing finances, including rent collection
Recognizing such sources of stress is the first step toward effective rental business stress management. Once you understand what's behind your stress, you can explore management techniques specifically tailored to your stressor. For instance, if you struggle with securing responsible tenants, you can outsource this task to a tenant placement or rental management service.
Set Clear Boundaries
While you must maintain open lines with tenants, it's still your right to rest blissfully at night and not become bogged down by non-urgent renter requests. So, define when you're available for non-emergency tenant interactions. Having specific hours helps create a balance between work and personal life.
Stay Organized
Use tools like calendars and task management apps to organize your rental processes. They can help you keep track of important tasks and dates, such as:
- Rent due dates
- Maintenance schedules
- Lease renewals
Practice Self-Care Every Day
According to the U.S. CDC, long-term stress, also called "chronic stress," can worsen health problems. From aches to concentration problems, these are just some of the adverse health effects of experiencing stress in the long term.
Avoid those problems by managing stressors and engaging in self-care daily, such as:
- Exercising
- Reading
- Spending time outdoors
- Being with loved ones and friends
Use Full-Service Property Management
Consider hiring a Smyrna, GA, property management service. They can significantly reduce your workload by handling most, if not all, of your rental property needs, such as:
- Property marketing and advertising
- Tenant placement
- Resident interactions and management
- Property maintenance and repairs
- Financial reporting
Take Action Today
Managing stress is crucial for landlords to stay on top of their game and overall health and well-being. So, as early as today, identify your stressors, set clear boundaries, stay organized, and practice self-care. Don't forget that full-service property management solutions, especially from PMI Terminus, can help you regain control and enjoy your life and profits as a landlord.
Contact our firm today for a free rental analysis and learn how we can elevate your landlord experience. Our team, comprised of professionals with decades of experience in service, project management, business development, and civil engineering, is ready to assist you and your property in Smyrna, GA, every step of the way.
