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 The following property management tips are provided by the National Association of Rental Property Managers (NARPM).

Evaluate the property. The first step is to take a good look at the property and determine what your needs are.

Consider your options. Before you decide on an agent, ask about their experience, their fees and how they handle maintenance issues.

Review your lease agreement. Make sure it's up to date and clearly stipulates what you expect from tenants in terms of keeping the grounds clean and free of trash. It should also specify what constitutes excessive noise or damage to furniture or fixtures. Be sure to include language that allows you to evict a tenant if they violate these rules and regulations or if they fail to pay rent on time every month.

Know your market value. You need an accurate figure for how much money you can make on this rental property; otherwise, you may have trouble finding tenants who will pay enough rent each month to cover all expenses and still leave enough left over for profit margin (if that's important).

 The property management tips for landlords below will help you to find the best tenants, manage your property and maximize your return on investment.

Property management tips for landlords

1. Screen tenants carefully

The first step in the property management process is to create a list of potential tenants. This can be done by advertising on Craigslist, social media and other websites. You might also consider working with a real estate agent or rental company to find suitable candidates.

2. Perform background checks on prospective tenants

Once you have found some potential tenants it’s time to perform background checks on them. This will give you an idea of their history and whether they are likely to pay rent on time and maintain the property properly in future.

3. Collect security deposits from tenants before they move in

It’s important that you collect security deposits from new tenants before they move into your property as this protects you against any potential damage or unpaid rent later down the line. You can also use this money as a form of insurance if something does go wrong during their tenancy and it becomes necessary for them to move out early or vacate the property completely (e.g., due to a fire).

 You could have a property manager and you might not. It's up to you. But if you do, here are some tips for landlords about how to make sure your property management company is doing its job right:

Make sure they know what they're doing. Ask them questions about their experience and what kinds of properties they manage. If they don't seem confident, get another quote.

Get references from previous clients, and check them out thoroughly.

Make sure they'll be available when you need them; if not, find someone else who will be there when you need them (same goes for emergency repairs).

Ask what happens if there's an issue with your tenant — how much notice do they need before coming over? If they say "as soon as possible," find someone else who can respond more quickly than that.