Property Management – Getting The Most Out Of It (Strategies And Tips)

Managing Rental Property

Rental property investment is a great way to make money. When you buy a rental property, you are buying an asset that will produce income for you month after month, year after year. 

However, to get the most out of your rental property investment, it is important to have a good property management team in place. 

A good property management team will take care of all the day-to-day tasks associated with owning a rental property. This includes finding and screening tenants, collecting rent, handling maintenance issues, and dealing with any other problems that may arise. 

By outsourcing these tasks to a professional team, you can focus on making money off your investment rather than worrying about the day-to-day operations. 

Buying a rental property is a great way to make money, but it can also be a lot of hard work. The truth is that you won’t get rich quickly with rental properties unless you manage them well and enjoy the process. 

Westpoint Property Management can help you get the most out of your rental property investment. To find out if our services suit your goals, you can check out our service and also read about what our customers’ review and what they highly say about us on our services.

Buying a rental property is a great way to make money, but it can also be a lot of hard work. The truth is that you won’t get rich quickly with rental properties unless you manage them well and enjoy the process. 

If you are thinking about buying a rental property, be sure to contact a good property management company first. This will help ensure that you get the most out of your investment. 

Have any questions about our Westpoint Property Management? Read our FAQ Section.

West Point Property Management is your best choice! Feel free to reach out to us right away! (714) 501-3783

Getting The Most Of Your Property

Many people are looking to get the most out of their rental property investment. If this is you, then you might be considering buying a rental property or getting into the business of managing rental properties. 

We recommend that you buy one before jumping into management because it will give you experience and knowledge about what goes on behind the scenes with rentals. Rental investing is one of the smartest and easiest ways to make money.

When done correctly, it can provide a steady stream of income for years to come. However, to make rental investing work for you, there are a few key things that you need to keep in mind.

The condition of a rental property will deteriorate if it is not managed properly. You can manage the property in several ways to meet the needs of every landlord. 

Every landlord should consider these three management strategies, which will allow them to keep their properties running smoothly and generating revenue.

Property Management Strategies And Tips
Property Management Strategies And Tips

Managing Property Maintenance and Inspections

1. Tenant Management

Renting out a property is one of the most immediate and visible aspects of property management. As a landlord, there is more to being successful than just collecting rent. It involves managing:

Rental Collection

Establishing due dates. Collecting rent on a weekly or monthly basis. Developing late fees and grace periods. Resolving unpaid rent issues.

Lease Agreements

Make sure the lease includes all the legal terms required by the landlord-tenant laws of your state. Verify that the lease complies with the most recent version of the law. Managing the leasing start and expiration dates for each tenant.

Tenant Screening

Advertising vacant apartments. Scheduling appointments. Verifying the information on the applications. Assessing the tenants’ suitability is also possible.


Making the lease official. Reviewing rules, regulations, and requirements. Collecting the security deposit and first rent payment. Viewing the rental unit and noting the current condition.


Make sure the lease is over before moving out. Make sure the rental unit is in good shape before moving out. Start the process of finding a new tenant.

Tenant Complaints

Responding to complaints. Setting up a plan for resolving the issue.

Repair Requests

Resolving requests as quickly as possible. Prioritizing the importance of repair. Repairs can be made by you or by others.

Tenant Evictions

Sending tenants legally required notices before eviction. Filing for eviction with the court. Compiling evidence supporting your eviction request.

Property Maintenance And Inspection
Property Maintenance And Inspection

2. Maintaining And Inspecting Property

In addition to the property itself, rental property management involves several services. The physical structure must be maintained to keep tenants healthy and safe. 

If you want your insurance company to cover your property, you may also be required to meet certain standards for certain components of the structure, such as the roof.


Mowing the lawn. Cleaning up leaves. Getting rid of snow. Disposing of garbage. Maintaining the cleanliness of all common areas. You should ensure tenants have access to running water at all times and heat during the winter. Fixing leaky roofs, broken pipes, cracked tiles, loose handrails, and malfunctioning door locks and windows.


Besides the town, you may have to deal with an inspection from your lender or insurance company. Inspections are conducted by the town to ensure your property complies with certain health and safety codes. Insurance companies and lenders inspect real estate to determine the value of the property before they lend it or insure it.

3. Financial Management

In addition to the management of your rental property, you will also need to handle the financial side of things. To understand how much money comes in and goes out each month, you must know how much money is coming in and going out.

Rent Payments – Rent you receive from tenants each month.

Mortgage Payment – The number of monthly payments you make on your mortgage.

Insurance–  The amount you pay each month for home insurance.

Taxes – The amount you pay each year for property taxes.

Utilities – If tenants are not responsible for paying utilities, what the bills for water, gas, and electricity are every month.

Fees/Fines – Costs associated with property inspections and court proceedings. Costs associated with unexpected maintenance issues.

Rental Management Services
Rental Management Services

3 Strategies For Rental Management

Now that you have an understanding of what needs to be managed within a rental property, you can decide how you will do it. Below are three approaches to consider:

1. Do-It-Yourself Management

This type of management emphasizes self-reliance since you are responsible for everything. Rent is collected by you, snow shoveled by you, and taxes are filed by you.


Total Control- You are the owner of a rental property, which is your business. By handling everything yourself, you are aware of everything that is going on with your business.

Aware of Problems Quickly – You can see right away when a problem occurs since you are involved in all parts of management. You still may not be able to address this issue right away since you are responsible for everything at your property.


Lack of Knowledge – There is no such thing as being an expert in everything. Instead of preparing your taxes by yourself, you could have hired a professional accountant to file your taxes. The accountant might have uncovered deductions that you were unaware of. 

By hiring a lawyer to prepare your lease agreement instead of writing it yourself, the lawyer might have included some landlord-tenant laws that you may have overlooked. Instead of installing the roof yourself, you could have avoided dealing with a roof leak if you had hired a professional.

Overwhelming – The pressure to please everyone can be overwhelming. You may make more mistakes since you are taking full responsibility for everything. This is most suitable for:

  • Landlords who have a small number of rental units.
  • Landlords who have previously owned a business.
  • Experienced landlords who manage rental properties.
  • Owners who want control.

2. Half Do-It-Yourself/Half Outsource

The goal of this approach to managing rental property is to manage the areas that you are knowledgeable about and outsource those you are not comfortable with or simply do not want to manage.

Outsource Legal Issues – For instance, you could outsource any legal concerns associated with rental management. Although you might feel great about managing the property’s finances, daily maintenance, and tenant complaints, you are very uncomfortable when it comes to dealing with legal issues. 

If this is the case, you are advised to hire a lawyer to handle any legal issues that may arise. In addition, we can draft your lease agreement by all landlord-tenant laws in your state and handle all evictions for your tenant.

Outsource Maintenance Issues – For maintenance issues, you would hire a handyman or building superintendent, while handling all other responsibilities yourself.


Saves Time – Since you won’t be doing everything, you will have more time. You can decide what you do with this time. Enjoy more family time or look for additional investment opportunities during this time.

Consult An Expert – Hopefully, others know more in a certain area than you do, so you’re ceding control to them.


Putting your trust in others

By putting your trust in these people, you’re assuming they know what they’re doing and you’re hoping for the best.

Best For:

Rental units are growing in number for landlords.

The average landlord.

3. Outsource Management Completely

With this management strategy, you own the property but do not wish to manage it personally. If you are in charge of daily operations, you believe that your strength is in selecting properties. 

This will require you to engage property managers or property management companies. An apartment management company can handle everything, including tenant screenings, tenant move-ins, rent collections, maintenance and repairs, move-outs, and evictions.


No more headaches every day

It will no longer be necessary for you to answer the phone at two in the morning because your neighbor is playing their music too loud. The bare minimum will be your responsibility. It is typically your responsibility to make the most important decisions, like giving the OK to begin an eviction process.


Expensive – Property managers will cost tens of thousands of dollars a year. The more rentals you own, the higher their cost will be.

A mismanaged business can end in disaster.

By putting your livelihood in the hands of another, you are putting your business at risk. As much as you care about success and failure, it will be very difficult to find someone who does as well. If things go wrong, make sure you have a clear exit strategy for any prospective managers.

Best For:

  • Rental properties whose landlords live far from them.
  • Landlords with a lot of rental properties.
  • Investors with a variety of properties.

To accomplish all of this, you need a system. A system that can help with managing your properties and finances as well as handling your tenants. You also need the right tools for the job tools that will allow you to maximize profits while minimizing costs. 

We know that managing a property can be stressful, and we want to make it easy for you. We have the tools in place to help our customers improve their occupancy rates, increase revenue from rentals, reduce tenant turnover rate and minimize the risk of loss with a variety of insurance products tailored specifically for the rental industry.

Looking for a Good Property Management Company? Look no further! West Point Property Management is your best choice! Feel free to reach out to us right away! (714) 501-3783

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