5 things you should never do to a rental property you own

Owning a rental property can be a powerful way to build long-term wealth, but it’s not a set-it-and-forget-it investment like all those Internet message board warriors would have you believe. The decisions you make as a landlord – especially avoidable mistakes – can quietly eat into your revenue and turn what should be a constant asset into a constant source of stress.

If you want your rental property to work for you instead of against you, there are certain things you should never do.

Here are five of the most common mistakes to avoid.

Never leave a property vacant for longer than necessary

Free space is a huge problem. An empty rental property is more prone to problems than an occupied one, which can turn into expensive repairs and long-term problems that just won’t go away.

As Los Angeles Property Management Group says“Leaving a property vacant is not just a missed opportunity, it’s a potential risk. Vacant homes can attract unwanted attention, leading to problems such as vandalism, trespassing and neglect.”

In addition to security risks, a vacancy disrupts cash flow. Every month without a tenant is a month you’re still paying taxes, insurance, and maybe even a mortgage—and nothing makes up for it. That doesn’t mean you should rush the screening process. But it does mean getting the pricing right, marketing proactively and planning for tenant transitions so downtime is minimal.

Never skip due diligence on tenants

Bad tenants are one of the fastest ways to turn a good rental into a nightmare. Skipping or rushing tenant screening can save time up front, but often costs a lot more later.

You should never rely solely on your own feelings. That’s why we have background checkscredit reports, rental history and income verification. They will help you assess whether someone is likely to pay on time and adhere to the terms of the lease.

Never ignore maintenance or overdue repairs

One of the most damaging mistakes landlords make is treating maintenance as an optional task that they get to when free time is available. But in reality, delaying repairs to save money often backfires.

Small problems tend to grow when they are ignored for a long time. For example:

• A minor leak can cause water damage
• Faulty equipment can lead to tenant frustration or even safety issues
• A poorly maintained yard can quickly become overgrown and require a lot of work

Simply put: Deferred maintenance reduces property value and increases turnover. Plus, tenants will notice how responsive you are. When maintenance requests are ignored or handled slowly, good tenants leave and look for something else.

Never treat a rental like your personal property

Once a property becomes a rental, it is no longer an extension of your personal preferences. Such treatment can lead to bad decisions and strained relations with tenants.

This includes entering a property without proper notice, making changes without considering the impact on the tenant or letting emotions influence business decisions. Landlord and Tenant Laws they exist to protect both parties, and ignoring boundaries can lead to legal exposure you don’t want to expose yourself to.

Your role is to manage the property professionally. This means respecting privacy, respecting the terms of the lease, and making decisions based on long-term performance instead of personal attachment. There is no room for emotions when renting a property. You need to get rid of that mindset and treat it like an asset that makes money.

Never try to do everything yourself

There is a difference between practical and overloaded. Many property owners start to handle everything themselves – marketing, leasing, maintenance coordination, bookkeeping and communication with tenants. However, at some point this may become unsustainable.

If managing your rental begins to consume your time, energy, or peace of mind, it’s a sign that your system needs help. This may mean outsourcing certain tasks or working with a property management company. Trying to do everything yourself when it no longer makes sense often leads to burnout and mistakes. Protect your sanity as this will ultimately allow you to protect your investment in the long run.

Adding everything up

Most of these mistakes come from underestimating how much strategy rental property requires. Contrary to what others might tell you, leasehold ownership is not passive by default. It only becomes passive when the systems are in place. Without these systems, even a good property can be sub-par.

If you want to set yourself up for success, you need to be intentional and strategic. To summarize what we have already mentioned, this will require you to:

• Keep the property occupied by qualified tenants
• Project thoroughly and consistently
• Address maintenance issues immediately
• Treat renting like a business, not a hobby
• Know when to delegate

Each of these options will add up over time. Small improvements in these areas often lead to better tenants, lower turnover, fewer emergencies and more predictable income. And when you manage your rental with that kind of intentionality, it stops feeling like a burden and starts acting like the investment it was meant to be.

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