Landlords Deserve a Vacation: 5 Tips for Worry-Free Travel

No matter how many properties you own, being a landlord is a full-time job and more. Being on call 24/7 is exhausting, and dealing with difficult tenants can make any landlord wonder if the perfect tenant exists.

If you’re a landlord, you’re probably overdue for a vacation. Although the coronavirus outbreak has paused most travel, the world will travel again soon.

If you’ve been postponing your vacation because you don’t want your investments to fall apart, here are 5 ways to eliminate worry so you can take the vacation you deserve.

Hire a trustworthy property management company

Do you feel like being a landlord means you can’t take a vacation without risking chaos at the properties you manage? Do you feel like everything will somehow fall apart the moment you get on a plane?

Working with the right property management company will ease all of your concerns while you’re away. For instance, a property management company will handle all repairs and maintenance, including fielding emergency calls at three in the morning.

If you’re worried that your tenants will skip rent if they know you’re on vacation, a property management company will ensure rent is collected and deposited on time. For added peace of mind, find a property management company that offers rent default insurance. As long as the circumstance meets the terms and conditions of your agreement, you’ll be reimbursed when a tenant doesn’t pay rent.

There’s no guarantee what your tenants will or won’t do when you’re away. However, a professional property management company will ensure business continues as usual.

Hire someone to check on your properties

If you regularly drive by your properties to check on them, hire someone to perform this task. Your property management company might not offer this type of service.

Hire someone to drive by each of your properties and record some video or take photos. Be specific with what you want to see and be careful not to violate anyone’s privacy. For example, if your tenants are responsible for regular yard maintenance, have your contractor take photos of the front yard. If you don’t allow window hangings, ask for photos if anything is hanging in a window visible from the street.

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Make sure the person you hire will not attempt to enter the property to get a closer look or take zoomed-in photos through open windows. While it’s legal to take photos of anything you can see while you’re on public property (the sidewalk and/or road), prioritize your tenants’ privacy.

Let go of control

Letting go of control is a tough thing to practice. On one hand, you’ve invested significant time and money into your properties. You have a duty to protect your investments and that requires maintaining control should anything go wrong.

On the other hand, there’s no guarantee you’ll be able to avoid every possible negative scenario. For instance, you can’t always prevent property damage, and natural disasters can strike anywhere at any time.

Besides, you probably don’t have as much control over your investments as you believe. Control is somewhat of an illusion. It definitely feels better knowing you can act on a moment’s notice when a tenant needs something, but you can’t control the circumstances that caused the problem. All you can do is control your response to uncontrollable situations.

Let go of attempting to control the uncontrollable aspects of your investments. You can hire someone to watch your properties while you’re gone, respond to repairs, and perform maintenance. However, you don’t need to sacrifice your vacation just to sit around in case something bad happens.

Take a short trip

A month-long vacation is ideal, but if you can’t handle being away for that long, take a short trip. Take a week or two and pack in as much fun as possible. Or, spend your time relaxing in your hotel and exploring the neighborhood if you prefer low key vacations.

A short vacation is the best solution if being away from your property investments makes you uneasy.

Meditate on your trip

Meditation is the easiest way to keep your mind at ease while mitigating stress and worry. According to Science Daily, just one hour of mindfulness meditation is enough to reduce anxiety. These studies also show that the effects of meditation last at least a week. If you meditate each day of your vacation, you’ll generate a cumulative sense of calm.

Landlords deserve a vacation

If you haven’t taken a vacation in a while, you’re overdue. Give yourself permission to enjoy some time away and plan the vacation you’ve always wanted.

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