--- title: How to Manage a Rental Property description: Managing a rental property can be difficult as landlords are responsible for managing contracts, repairs, maintenance, finding tenants, and more. image: https://www.realized1031.com/hubfs/Images/photo/abstract/condo-for-rent-IS-534033955.jpg --- [![Realized 1031 Exchange Marketplace](https://www.realized1031.com/hs-fs/hubfs/Images/Brand/Logo/Realized/Realized-Logo-Black.png?width=240&height=80&name=Realized-Logo-Black.png "Realized 1031 Logo") ](https://www.realized1031.com/) - [Wealth Management Gap](https://www.realized1031.com/the-wealth-management-gap) - [Our Process](https://www.realized1031.com/how-realized-works) - [Financial Advisors](https://www.realized1031.com/advisor) - [Resources](https://www.realized1031.com/resources) - [The Company](https://www.realized1031.com/about-us) - [Articles](https://www.realized1031.com/blog) [Register](https://www.realized1031.com/marketplace) [Log In](https://www.realized1031.com/login) - Better Business Bureau Rating: **A+** - [FINRA BrokerCheck](https://brokercheck.finra.org/firm/summary/22333) - [Call](tel:1-877-797-1031) **(877) 797-1031** # How to Manage a Rental Property Posted May 31, 2021 ![condo-for-rent-IS-534033955](https://www.realized1031.com/hs-fs/hubfs/Images/photo/abstract/condo-for-rent-IS-534033955.jpg?width=751&name=condo-for-rent-IS-534033955.jpg) Managing a rental property can be very difficult as rental property owners are responsible for managing contracts, repairs, maintenance, finding tenants, and more. This post will explore how to tackle some of the most important aspects of rental property management, which includes: -           Tenant management -           Property repairs -           Maintenance issues -           Outsourcing to property management companies (optional) Below we will dive into each one of these aspects of rental property management. **Tenant management: **The first aspect of managing a rental property is tenant management. Tenant management refers to finding tenants for your property and ensuring they stay in your property for a given time. According to a recent survey commissioned by Realized, 31% of people surveyed consider finding good tenants the most challenging part of owning rental properties. Plus, evicting a tenant may take 3-4 weeks and up to [$3,500](https://www.mysmartmove.com/SmartMove/blog/how-to-find-good-tenants.page), so it’s important to find quality tenants for your property. To find high-quality tenants, rental property owners will need to advertise the property on websites like Zillow or Craigslist to attract more applications. Once a potential tenant is found, the property owner should do a thorough background check. There are several ways to do a background check on a potential tenant. Background checks screen the tenant for criminal history, credit reports, and more. You can do background checks with background services companies, and the costs will vary based on how much background information you’re looking to get on the tenant. Upon passing the background check, the property owner will need to send the tenant an agreement. A sample tenant agreement would include some of the following information: -             Identification of the property -             Term of tenancy -             Amount of rent -             Additional late fees and more **Property repairs: **Property repairs are another large component of managing a rental property as the rental property will likely need a variety of repairs during the tenure of the tenant. Property repairs are different from property improvements because they’re generally a one-time fix to a recurring issue. Some of the common types of property repairs include appliance failures, water damage, broken screens, and more. It’s good to get in touch with local contractors like electricians and plumbers in case of any property damage. Having an ongoing relationship with certain providers is the most optimal solution for proactively managing property damage. Additionally, the majority of property repairs are tax [deductible](https://www.fortunebuilders.com/rental-property-repairs/). It’s important to differentiate property improvements from property repairs. Improvements are investments made into the property to add value. Some examples of property improvements include: -             Landscaping -             Adding/renovating rooms -             Replacing flooring **Property Maintenance: **Maintenance issues are more common than property repairs, but they are less expensive and more minor in nature. Maintaining the property simply means making sure the rental property is in good living condition for the tenant. Although these might seem minor, it greatly affects the quality of life for the tenant. Staying on top of maintenance issues is a crucial part of managing a rental property. This could be scheduling routine pest control services or having someone regularly inspect your HVAC system. **Outsourcing to property management companies: **For individuals with multiple rental properties or landlords that don’t live near their properties, outsourcing to a property management company can be a more cost-effective alternative to managing all the rental properties on their own. Outsourcing may be a better use of time if a particular property requires a lot of oversight, or if a landlord is looking for a more hands-off approach. There are many property management companies out there, and their services and costs can range significantly depending on the level of services they provide. When searching online for property management help, ask for an outline of covered services with the quote. Owning a rental property is a great way to create some additional income streams, but the hassle of direct property ownership may be difficult for some individuals to manage. If you’re considering making a shift from [active property ownership to passive property ownership](https://www.realized1031.com/blog/active-vs-passive-investing-the-key-differences-to-know), Realized has resources that can help. This material is for general information and educational purposes only. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed as to accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions. Learn Ways To Help Build Long-Term Real Estate Wealth [![Get Tips For Managing Real Estate Wealth](https://www.realized1031.com/hs-fs/hubfs/Images/UI/graphics/composites/IPWM-eBook-250c.jpg?width=250&height=250&name=IPWM-eBook-250c.jpg "Learn new ways to use real ...") ](https://www.realized1031.com/blog/how-to-manage-a-rental-property#blogform) Download eBook ---   --- ### Get Tips For Managing Real Estate Wealth ![Learn Ways To Help Build Long-Term Real Estate Wealth](https://www.realized1031.com/hs-fs/hubfs/Images/UI/graphics/composites/IPWM-eBook-550.jpg?width=550&height=650&name=IPWM-eBook-550.jpg) Learn new ways to use real estate to pursue your wealth goals. By providing your email and phone number, you are opting to receive communications from Realized. If you receive a text message and choose to stop receiving further messages, reply STOP to immediately unsubscribe. Msg & Data rates may apply. To manage receiving emails from Realized visit the Manage Preferences link in any email received. Search ### [Why Realized](https://www.realized1031.com/why-realized) - [Wealth Management](https://www.realized1031.com/the-wealth-management-gap) - [Why Realized](https://www.realized1031.com/why-realized) - [Our Process](https://www.realized1031.com/how-realized-works) - [Scenarios](https://www.realized1031.com/scenarios) - [Private Client Program](https://www.realized1031.com/private-client) - [Realized Exchange Services](https://www.realized1031.com/realized-exchange-services) ### [The Company](https://www.realized1031.com/about-us) - [The Team](https://www.realized1031.com/about-us) - [FAQ](https://www.realized1031.com/frequently-asked-questions) - [Testimonials](https://www.realized1031.com/testimonials) - [Press](https://www.realized1031.com/press) - [Careers](https://www.realized1031.com/careers) ### [Partners](https://www.realized1031.com/partners) - [Financial Advisors](https://www.realized1031.com/advisor) - [Broker Dealers](https://www.realized1031.com/partners/broker-dealers) - [Real Estate Agents](https://www.realized1031.com/partners/real-estate-agents) - [Certified Public Accountants](https://www.realized1031.com/partners/certified-public-accountants) ### [Resources](https://www.realized1031.com/resources) - #### Learn - [Articles](https://www.realized1031.com/blog) - [Glossary of Terms](https://www.realized1031.com/glossary) - [Capital Gains Tax Rates](https://www.realized1031.com/capital-gains-tax-rate) - #### Watch - [Video Library](https://www.realized1031.com/videos) - [Webinar Archive](https://www.realized1031.com/webinars) - #### Read - [Delaware Statutory Trust](https://www.realized1031.com/delaware-statutory-trust) - [Tenants-In-Common](https://www.realized1031.com/tenants-in-common-tic) - [1031 Exchange](https://www.realized1031.com/1031-exchange) - [Qualified Intermediary](https://www.realized1031.com/qualified-intermediary) - [Qualified Opportunity Zones](https://www.realized1031.com/opportunity-zones) #### Realized - 500 W 13th Street Austin, TX 78701 - (877) 797-1031 ##### [Contact Us](https://www.realized1031.com/contact-us) - [![Realized on Facebook](https://www.realized1031.com/hs-fs/hubfs/Images/UI/Social/Icons/Mix/social-facebook-whiterev.png?width=60&height=60&name=social-facebook-whiterev.png)](https://www.facebook.com/Realized/) - [![Realized on LinkedIn](https://www.realized1031.com/hs-fs/hubfs/Images/UI/Social/Icons/Mix/social-linkedin-whiterev.png?width=60&height=60&name=social-linkedin-whiterev.png)](https://www.linkedin.com/company/realized/) - [![Realized on YouTube](https://www.realized1031.com/hs-fs/hubfs/Images/UI/Social/Icons/Mix/social-youtube-whiterev.png?width=60&height=60&name=social-youtube-whiterev.png)](https://www.youtube.com/c/Realized1031?sub_confirmation=1) - [![Realized Holdings, Inc. BBB Business Review](https://www.realized1031.com/hs-fs/hubfs/Images/professional-assoc/bbb/RZH2-bbb-seal.png?width=40&height=65&name=RZH2-bbb-seal.png)](http://www.bbb.org/central-texas/business-reviews/real-estate-investors/realized-holdings-llc-in-austin-tx-1000112948/#bbbonlineclick) - [![FEA Logo](https://www.realized1031.com/hs-fs/hubfs/Images/professional-assoc/fea/RZH2-fea-logo.png?width=82&height=65&name=RZH2-fea-logo.png "FEA Logo")](https://www.1031.org) SECURITIES DISCLOSURE Realized1031.com is a website operated by Realized Technologies, LLC, a wholly owned subsidiary of Realized Holdings, Inc. (“Realized Holdings”). Securities and/or Investment Advisory Services may be offered through Registered Representatives or Investment Advisor Representatives of Realized Financial, Inc. ("Realized"), a broker/dealer, member [FINRA](https://www.finra.org)/[SIPC](https://www.sipc.org/), and registered investment adviser. Realized is a subsidiary of Realized Holdings, Inc. ("Realized Holdings"). Check the background of this firm on [FINRA's BrokerCheck](https://brokercheck.finra.org/firm/summary/22333). Hypothetical example(s) are for illustrative purposes only and are not intended to represent the past or future performance of any specific investment. Investing in alternative assets involves higher risks than traditional investments and is suitable only for sophisticated investors. Alternative investments are often sold by prospectus that discloses all risks, fees, and expenses. They are not tax efficient and an investor should consult with his/her tax advisor prior to investing. Alternative investments have higher fees than traditional investments and they may also be highly leveraged and engage in speculative investment techniques, which can magnify the potential for investment loss or gain and should not be deemed a complete investment program. The value of the investment may fall as well as rise and investors may get back less than they invested. This site is published for residents of the United States who are accredited investors only. Registered Representatives and Investment Advisor Representatives may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed until appropriate registration is obtained or exemption from registration is determined. Not all of services referenced on this site are available in every state and through every representative listed. For additional information, please contact the Realized Compliance department at 512-472-7171 or info@realized1031.com. - [Terms & Conditions](https://www.realized1031.com/terms-and-conditions) - [Privacy Policy](https://www.realized1031.com/privacy-policy) - [Form CRS](https://www.realized1031.com/hubfs/common-files/disclosures/FormCRS.pdf) - [ADV 2A](https://www.realized1031.com/hubfs/common-files/disclosures/ADV2A.pdf) - [Reg BI Disclosures](https://www.realized1031.com/hubfs/common-files/disclosures/RegBI.pdf) -   © 2026 Realized Holdings, Inc. ```json { "@context" : "http://schema.org/", "@type" : "BlogPosting", "articleBody" : "Managing a rental property can be very difficult as rental property owners are responsible for managing contracts, repairs, maintenance, finding tenants, and more. This post will explore how to tackle some of the most important aspects of rental property management, which includes: Tenant management Property repairs Maintenance issues Outsourcing to property management companies (optional) Below we will dive into each one of these aspects of rental property management. Tenant management: The first aspect of managing a rental property is tenant management. Tenant management refers to finding tenants for your property and ensuring they stay in your property for a given time. According to a recent survey commissioned by Realized, 31% of people surveyed consider finding good tenants the most challenging part of owning rental properties. Plus, evicting a tenant may take 3-4 weeks and up to $3,500, so it’s important to find quality tenants for your property. To find high-quality tenants, rental property owners will need to advertise the property on websites like Zillow or Craigslist to attract more applications. Once a potential tenant is found, the property owner should do a thorough background check. There are several ways to do a background check on a potential tenant. Background checks screen the tenant for criminal history, credit reports, and more. You can do background checks with background services companies, and the costs will vary based on how much background information you’re looking to get on the tenant. Upon passing the background check, the property owner will need to send the tenant an agreement. A sample tenant agreement would include some of the following information: Identification of the property Term of tenancy Amount of rent Additional late fees and more Property repairs: Property repairs are another large component of managing a rental property as the rental property will likely need a variety of repairs during the tenure of the tenant. Property repairs are different from property improvements because they’re generally a one-time fix to a recurring issue. Some of the common types of property repairs include appliance failures, water damage, broken screens, and more. It’s good to get in touch with local contractors like electricians and plumbers in case of any property damage. Having an ongoing relationship with certain providers is the most optimal solution for proactively managing property damage. Additionally, the majority of property repairs are tax deductible. It’s important to differentiate property improvements from property repairs. Improvements are investments made into the property to add value. Some examples of property improvements include: Landscaping Adding/renovating rooms Replacing flooring Property Maintenance: Maintenance issues are more common than property repairs, but they are less expensive and more minor in nature. Maintaining the property simply means making sure the rental property is in good living condition for the tenant. Although these might seem minor, it greatly affects the quality of life for the tenant. Staying on top of maintenance issues is a crucial part of managing a rental property. This could be scheduling routine pest control services or having someone regularly inspect your HVAC system. Outsourcing to property management companies: For individuals with multiple rental properties or landlords that don’t live near their properties, outsourcing to a property management company can be a more cost-effective alternative to managing all the rental properties on their own. Outsourcing may be a better use of time if a particular property requires a lot of oversight, or if a landlord is looking for a more hands-off approach. There are many property management companies out there, and their services and costs can range significantly depending on the level of services they provide. When searching online for property management help, ask for an outline of covered services with the quote. Owning a rental property is a great way to create some additional income streams, but the hassle of direct property ownership may be difficult for some individuals to manage. If you’re considering making a shift from active property ownership to passive property ownership, Realized has resources that can help. This material is for general information and educational purposes only. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed as to accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions.", "articleSection" : [ "Real Estate Investing" ], "author" : { "@type" : "Person", "email" : "marketing@realized1031.com", "image" : "", "name" : "The Realized Team", "url" : "https://www.realized1031.com/blog/author/the-realized-team" }, "dateModified" : "2021-06-01T15:35:21+0000", "datePublished" : "2021-06-01T15:35:21+0000", "description" : "Managing a rental property can be difficult as landlords are responsible for managing contracts, repairs, maintenance, finding tenants, and more.", "headline" : "How to Manage a Rental Property", "image" : { "@type" : "ImageObject", "height" : 506, "url" : "https://f.hubspotusercontent10.net/hubfs/733513/Images/photo/abstract/condo-for-rent-IS-534033955.jpg", "width" : 751 }, "mainEntityOfPage" : "https://www.realized1031.com/blog/how-to-manage-a-rental-property", "name" : "How to Manage a Rental Property", "publisher" : { "@type" : "Organization", "address" : { "@type" : "PostalAddress", "addressCountry" : "USA", "addressLocality" : "Austin", "addressRegion" : "TX", "postalCode" : "78701", "streetAddress" : "500 W 13th Street " }, "logo" : { "@type" : "ImageObject", "height" : 60, "url" : "http://www.realized1031.com/hubfs/Images/Brand/Logo/Realized/Realized-Logo-Black-No-Margin-296x60-AMP.png", "width" : 296 }, "name" : "Realized" }, "thumbnailUrl" : "https://f.hubspotusercontent10.net/hubfs/733513/Images/photo/abstract/condo-for-rent-IS-534033955.jpg" } ```