It’s vacation season. But, if you’re a landlord, you may be thinking, “what vacation?!” For many landlords, it’s difficult to getaway. And, even if you do plan a trip, interruptions can arise, making it difficult to actually relax.
The truth is landlords can take a vacation, and not just a “working vacation.” With a little bit of planning and forethought, it’s possible to truly unplug and spend time with your loved ones.
Select the right time for your getaway
If you manage a property (or properties), you’ll want to ensure that you book your vacation during the right time. You don’t want to take off when there’s a big project you’re trying to finish up. It can also be beneficial to wait until a week after your tenants have made their rent payment for the month.
Designate a backup while you’re away
Once you have a timeframe in mind for when you’d like to go on vacation, make sure you have a reliable backup. You could ask another landlord or a trusted loved one to take your place while you’re away. You could also partner with a property management company to handle your affairs both when you’re away and from day to day. You shouldn’t make this decision lightly. You need someone you can trust to take care of your tenants, handle day-to-day operating responsibilities and manage repairs. It’s also crucial that your backup avoids violating any landlord-tenant laws.
So, what does your backup need to know? Start by:
- Giving your backup an itinerary as well as your contact information. This includes your email address, phone number and contact information for the places you plan on staying. Emergencies can arise at any time, so it’s important they have multiple ways to get in touch.
- Providing your management backup with tenant information, including residents’ phone numbers, addresses and names.
- Giving your backup access to master keys, alarm codes and other security information. It’s unlikely that anything will happen while you’re away, but it’s always better to be safe than sorry.
- Providing your backup with vendor information. If a plumbing or electrical problem arises while you’re away, this information can ensure repairs are made quickly and efficiently. Quick access to vendors can also lower the risk of accidents or injuries to your residents or tenants.
- Contacting your vendors and letting them know who will be in charge while you’re away. You might also want to make a list of backup vendors.
- You should also ask your replacement to record any issues or repairs that occur while you’re on vacation. A logbook that includes dates and times is incredibly valuable because it allows you to view everything that happened once you return home.
Make sure your tenants know that you’re going on vacation
Once you’ve provided your property management backup with all of the necessary information, it’s time to alert your tenants. As a landlord, it’s your duty to inform all of your tenants that you’ll be taking time off. Provide them with a way to reach out to your replacement.
Make sure they understand this is the person they are to contact while you’re away. Let them know courteously that they should only reach out to you if it’s an emergency. If you won’t have access to the internet or a phone, make sure they’re aware of this as well. Give your tenants a few weeks notice so they know to expect your departure. You may also want to give them another notice a few days or a week prior to your departure date.
Pre-vacation repairs and landscaping
When you’re preparing to go on vacation, make sure anything that needs to be handled is taken care of. This includes property repairs and landscaping. Taking action before your departure date can also help you avoid issues from arising while you’re away.
There’s a lot of work that goes into planning a vacation, especially when you’re a landlord. However, all of the planning is worth it, if you get to relax while you’re away.
If you’re looking for someone you can trust to manage your property long term, contact PMI: . We can care for your property while you’re away and even when you come home.
We’ll help with screening tenants and handling maintenance issues. We also have great vendors. Hiring a reliable property management company can provide peace of mind and allow you to spend more time doing the things you love.
