Being a landlord is a lucrative job that can offer very flexible hours and significant returns as long as you work hard. However, unlike corporate jobs with set schedules and guaranteed time off, landlords can find it difficult to take vacations as their specific responsibilities require them to be available nearly 24/7.
Even if you’re very dedicated to your job as a landlord and enjoy your work, it’s important to take time off once in a while to prevent burnout and continue to bring your best effort to your tenants and contractors. However, taking a vacation as a landlord requires a good deal of preparation beforehand to make sure your properties are taken care of and your tenants have someone to contact if they have questions or issues.
How to Prepare for Vacation as a Landlord
Landlords on vacation can get just as much relaxation and enjoyment as anyone else, but you’ll need to set some boundaries with tenants, contractors, property managers, and anyone else that relies on you for direction while also setting them up for success in your absence.
Let’s dive into a few of the most important steps to take before leaving for vacation as a landlord.
Notify Tenants in a Timely Manner
If you fail to let your tenants know that you’ll be unavailable for their needs and they’re struggling to contact you, it will damage the trust between landlord and tenant and strain your relationship moving forward.
Additionally, they really may have an emergency on their hands regarding one of your properties that needs immediate attention, and if you’re unable to assist, it could end up in disaster.
Let your tenants know as far in advance as you can about the dates you’ll be away and who they should contact if they have questions or need help with an emergency situation on the property.
Let Your Contractors Know
If you regularly work with contractors such as landscapers, electricians, or plumbers, you should let them know about your planned vacation at the same time you alert your tenants. Make sure they have the contact information of your property manager or whoever will be performing your tasks in your absence.
Delegate Necessary Tasks
Landlords on vacation have a bad habit of trying to do their job from wherever they’re visiting while they’re supposed to be relaxing. Get the most out of your vacation by delegating all of your property upkeep tasks to a property manager that you can trust.
Many landlords have a property manager on call whenever they need to be away for a family emergency, and having a trustworthy replacement ready to step in can be very useful when you decide to go on vacation as a landlord.
You may even want to consider hiring a property manager year-round to reduce your daily responsibilities and focus more on acquiring new properties to rent.
Set Times to Be Available for Contact
You’re taking a trip to spend some time away from your responsibilities, but landlords on vacation should still be available — at least some of the time — in case of an emergency that requires immediate attention, such as a major plumbing or electrical issue.
Even if you can’t physically go to the property where an emergency is taking place, you can pull from your network of contractors to get the situation handled in a timely manner.
However, apart from serious circumstances, you should strongly encourage your tenants and contractors to contact your designated property manager first if they have issues or questions.
Use Online Rent Collection to Accept Rent from Anywhere
Are you worried about how you’ll collect rent while you’re away? Luckily, landlords on vacation can handle rent through secure online platforms like PayRent, which provide incredible benefits for both tenants and landlords.
When you go on vacation as a landlord, you won’t have to worry about scheduling your trip around your rent due dates. In fact, you won’t have to think about rent due dates at all! Your tenants can transfer funds to you in minutes, and you can transfer the balance to your bank from anywhere.
Additionally, you can even send virtual reminders to your tenants and offer incentives for on-time or early payments.