Most people complain about their jobs being stressful, however if you are a landlord then you will know that stress is part of the territory. As a landlord, not only are you trying to run a business, but also work with members of the public, adhere to government regulations, and be available all hours of the day just in case something happens. Landlords also don’t get to clock off at five thirty, and many have spent a number of weekends and evenings sorting out leaking pipes, break-ins, tenant arguments and paperwork.
While some people thrive off of this high pressure environment, it can eventually take its toll which could lead to you making mistakes or just feeling like you are juggling too much at once. So here are some ways for landlords to reduce stress and make their lives that little bit more harmonious!
Stress is often caused by having too many things to think about all at once and then constantly worrying that you have forgotten something. If you have too much to think about you will also start panicking that you won’t be able to get everything done on time, which is why you need to put a pen to paper and write everything down. Even just writing a list of all the jobs you need to do can reduce your stress levels immensely, however if you want to go further you can also write down how long you think each job will take you and when you are going to do it. If you stick to your plan you should be able to get everything done and be able to focus on one thing at a time!
Give yourself space
Getting organised is all well and good, but it can be extremely difficult if you don’t have the space to do it in. This is why it is so important to make sure that you have a room in your own house where you can go to fill out forms and organise your business in peace. There is a reason why offices are generally quiet places and don’t have screaming children running around – it’s extremely distracting and ultimately counter-productive. You should make sure your office area is somewhere you can go work where no one will disturb you and that you feel comfortable in, so make sure you add some personal touches!
There are some jobs that all landlords dread, such as filling in their self-assessments, arranging landlord insurance or marketing their properties. Most of the time people don’t like doing something because they find it difficult, and eventually this can lead to them becoming more stressed over the job. If this is the case with you then it may be a wise idea to hire a professional who can do the job for you such as a letting agent. The great thing about letting agents is that you can rely on them as much or as little as you want; you can have them help out with the occasional job, or they could take over the management of your entire property portfolio!
Take a Break
As discussed earlier, landlords are expected to be there no matter what time of the day and so can end up working long periods of time without taking a proper break. Have a think back to the last time you took a whole two days off without filing paperwork, checking emails or answering enquiries from your tenants. If it’s been longer than two months then it’s definitely time for you to take a well-deserved break! You don’t even need to go abroad; you could just turn your phone and computer off and give yourself a couple of days to properly relax in your own home. You will be surprised how even a short break can make you feel ten times better!
Learning how to deal with stress is important for all landlords as it means that you are less likely to make mistakes and you can run your business in a calm and practical manner. If you are really pushed for time then just remember: a two minute break and a couple of deep breathes always helps!