As the new year approaches, business owners across all industries will be looking ahead to 2026 and thinking about ways to improve. If your company focuses on renting out properties, the goals are simple. You’ll want to boost process efficiency, grow your portfolio, and generate more profits.
Here are some of the simple steps you can implement to achieve those targets in 2026 and beyond.
Embrace Modern Tech Systems
Intelligent tech systems sit at the heart of every modern business, and yours shouldn’t be any different. Finding the best property management software for landlords can transform many aspects of the process. From marketing assets on multiple property rental sites with the click of a button to managing key documents, many tasks are improved. Increased efficiency boosts productivity and saves your team from repetitive admin.
Other modern tech systems include staff scheduling tools, accounting software, and other HR tools. Even when it isn’t a client-facing tech, upgrading those features will make a huge difference to their experience. Of course, it makes your life easier too, not least because human error is removed from various tasks.
Pay Greater Attention To Tenant Screening
As a landlord, the success of the venture is largely determined by tenants. The goal is to find reliable and respectful tenants. They should take care of the property as if it were their own while also making timely payments. It is the only way to ensure that the business runs smoothly from a cashflow perspective. Likewise, it saves you from facing the disruption of completing property repairs between one tenant and the next. This protects revenue generation.
Tenancy screening is the best way to avoid problems. It may mean turning some applicants down. It may mean waiting a few days longer to find the right candidate. It may even add an extra assignment to your workload. But it will all be worth it when you have a tenant that lives up to their end of the bargain. Not least for your peace of mind.
Assemble A Stronger Team
Many landlords start their businesses by renting out their old homes, perhaps after moving in with their spouse. Once the time comes to grow your business, though, you will need to assemble a team. You will quickly learn that the workforce can either be your greatest asset or biggest liability. Do not let it be the latter.
As the business grows, you may need receptionists and marketing experts. You may also need someone to handle the accounts, manage legalities, or complete repairs in the properties. When hiring in-house employees, it’s vital to analyze their character traits as well as their experience levels. However, you may also find that many of the jobs can be outsourced. In this case, be sure to partner with companies who have a solid track record of delivering great results.
Consider Multi-Unit Rental Properties
When looking for ways to grow the business, there are many options at your disposal. However, adding more properties to your portfolio is arguably the best. Many landlords fall into the trap of looking to slowly add one property at a time. In many cases, looking at multi-unit properties like apartment blocks could be the better option. While many assume that this route is inaccessible, the truth is far different. They often provide the quickest route to significant growth.
Lenders often see this as a lower risk approach as you only have to fill a percentage of the units to break even. From your perspective, it’s also a convenient way to manage multiple properties as they are found in the same location. Compared to funding and managing properties spread out around the country, this options is far simpler.
Provide Extra Luxuries
In addition to increasing the number of properties and tenants involved, you can look to increase the value of each one. A little research will soon highlight whether you are undercharging for monthly rentals. If this is the case, you could alter your rental prices, but you must still provide fair value. Otherwise, you may find yourself with empty dwellings.
The alternative route is to offer more, and charge extra for the more comprehensive service. It is most likely to be an option in luxury properties, multi-unit rentals, and commercial rentals. An office cleaning company could keep commercial properties in great health. In turn, you can charge the tenants a higher monthly rental. You’ll benefit from the difference between the new overhead and increased revenue. And you’ll know that properties are kept in good condition.
Look Into Short-Term Rentals
Most entrepreneurs starting out in property rentals rightly focus on traditional rentals. You find a tenant who agrees to a semi-permanent deal, such as a 12-month occupancy. It’s the most convenient approach and guarantees sustainability. When looking to take your business to the next level, though, it is worth pursuing other avenues.
Short-term rentals could take many forms. You could turn yours into an Airbnb. There are property management companies who can take care of the day-to-day maintenance. If the property is located in a hotspot, you could earn more revenue even if it’s only occupied for 200 days a year. Alternatively, a home in the city makes the perfect option for short-term leases for business people. Companies may use them for guests, like business partners or VIP clients too.
Reduce Other Expenses
Finally, you should look to trim the fat from operational expenses. After all, profit is a two-way street and lowering your costs is often far simpler than increasing revenue. The results should start to show far sooner too. From switching utility suppliers to removing unneeded tasks, there are many solutions at your disposal. Individually, the savings may not seem too significant. In reality, though, their cumulative effect can transform the business forever.
Reducing your expenses gives you a stronger foundation to build upon. By focusing on this now, you’ll also start the new year on a positive foot. It will transform your mindset, which can become the driving force as you look to implement changes elsewhere. It is the first step to truly making 2026 the best year yet.
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