While landlords in Orange Park, Florida, earn an average of $71,844 yearly, with the top earners making as much as $124,000+ (per ZipRecruiter.com), it doesn't mean they have it easy. On the contrary, being a landlord can be highly stressful because, unlike regular employees who earn stable incomes, they must secure reliable tenants who'll pay on time and care for their properties.
So, if you're also a landlord feeling all stressed out, now is the best time to practice landlord stress relief and management strategies.
The team of experts at PMI Davis Realty has shared stress-busting tips and property management advice, so please read on.
Pinpoint Stressors
The first step to managing stress and landlord mental health is identifying what exactly stresses you. Doing so can help you develop strategies targeting your specific stressors.
For example, say your primary stressor is the thought of renting to the wrong people who may fail to pay rent on time or break the lease. One way to ease your worries and reduce tenant issues is to ensure all rental applicants undergo careful and compliant tenant screening procedures. Outsourcing these procedures to professional and reliable property managers is your most straightforward option.
Another example is if you feel so stressed because you're anxious about potential evictions. Professional tenant screening can help minimize your odds of evicting tenants, as it can help you identify good from bad tenants. Moreover, reliable property managers offer additional safeguards through eviction protection plans.
Try Self-Care Practices
Stress can sometimes be beneficial (e.g., it can make you more alert and ready during dangerous situations). Unfortunately, unmanaged stress can be a health detriment, especially in the long run.
To minimize stress levels, practice self-care. The U.S. CDC recommends the following healthy strategies to cope with stress:
- Take deep breaths
- Do some stretching
- Try meditation
- Enjoy the outdoors
- Eating healthily
- Get at least seven hours of sleep
- Exercise more
Try doing the above whenever you feel worried or frustrated. Sometimes, just taking five minutes to breathe or stretch can already help.
Let PMI Davis Realty Handle Your Rental
If your landlord-related responsibilities and tasks have become too overwhelming, it may be time to delegate them to our full-service property management company, PMI Davis Realty. We'll handle the following on your behalf:
- Market your property
- Screen tenants
- Oversee property inspections and upkeep
- Enforce the lease
- Implement effective rent collection strategies
We also back our services with residential guarantees. For instance, we guarantee we'll find qualified tenants within 21 days; if not, we'll waive your first month of management fees.
Keep These Tips for Stressed Landlords in Mind
Orange Park landlords can earn a hefty income, but their well-being can also be at risk, considering how stressful their jobs can be. So, if you're ready to lead a stress-free life as a landlord, follow our tips and consider hiring us, PMI Davis Realty, as your full-service property manager.
Our team comprises highly knowledgeable real estate, property management, taxation, and accounting experts. Our owner, Wendell Davis, is a decorated Army veteran who has worked in real estate and property management since 1987. Wendell has also served as the president of the NE Florida Realtors Association and the Florida Realtors Association.
Reach out today for a free property analysis and discover how we can help your rental business!
