Property management in Louisville may have its ups and its downs, but it can have a lot more "ups" if your play your cards carefully. You don't have to be tricky to manage your property well and still keep a good reputation with the majority of your renters.

This article is a collection of online information that I have paraphrased and compiled for the use of those who are involved with property management in Louisville:

Property Management in Louisville Tip #1: Starting Off on the Right Foot

As a landlord, you want your renters to be happy with the property you manage so that they will stay for longer periods of time. There are a variety of ways that you can keep them happier than the average renter. For instance, an article1 on the wikihow.com website suggests that you place toilet paper in the bathroom or water bottles in their fridge before they move in. I thought these and other ideas presented in the wikihow.com article were valuable and I recommend that you read the rest of the article for even better property management in Louisville.

Property Management in Louisville Tip #2: Take Your Tax Deductions More Seriously

Taxes are a pain and believe me when I say that I wouldn't mind being the first to admit that I like to get them over with as quickly as possible. However, I can say from a theoretical standpoint that taking more time, or letting someone else take more time for your taxes, is a very smart thing to do.

From an article2 entitled, Top Ten Tax Deductions for Landlords, on the nolo.com website, I realized how many landlords and property managers lose money simply because they are not aware of the tax deductions that are available to them. Repair costs and interest on mortgages for instance, are two of the tax deductions that the nolo.com article identified as deductions that some landlords don't take advantage of. Please feel free to refer to the article for more info.

Property Management in Louisville Tip #3: Choose the Right Property Management Software

Choosing the right property management software can help you get organized, run your business more smoothly and have time for more important things like being nice to your tenants or spending more time with your family. Before you invest in property management software, find out who the best property managers are and find out which software they are using. You may also want to ask them (hopefully they are willing to share) what kinds of perks they offer their tenants in order to keep them happy. Property management in Louisville may seem difficult at times but if you get organized with the right property management software and treat your tenants well, that is a great way to make property management in Louisville seem more pleasant.

Property Management in Louisville Tip #4: Clarity in Court

If you are very involved in property management in Louisville, then at some time or another you will probably take someone or be taken yourself to court. It seems, from the material that I have read that most landlords end up in a small claims court. One article3 that I found (also on the nolo.com website) offered some advice for those who have to present their side of the story in a small claims court. The non.com article mentioned that documentation and anything else that can clearly portray your own point of view will give you a much better chance of winning your claim. At first, I thought, "Well, that is obvious," but then I realized that many people probably don't take the time to find witnesses--as the nolo.com article suggests--or other forms of information that support their point(s) of view. Take the time to do this! It will save you money and will help you keep a good reputation as long as you are telling what you believe to be the truth and have information to support your argument.

Property Management in Louisville Tip #5: Property Management in Louisville is a People Thing

One of the most important tips you can learn as a landlord (this comes from wikihow.com4) is to reward your tenants for "good behavior." If they get their rent in on time for 6 consecutive months, wikihow.com recommends buying your tenants movie tickets or something else that will keep you on the sunny side of landlordism. Take time to read the rest of this article5. It is worth your time as a landlord to start thinking about the kinds of perks that a renter would enjoy.

1 http://www.wikihow.com/Be-a-Great-Landlord

2 http://www.nolo.com/resource.cfm/catID/5944A0DA-71B3-49EA-BF5D300558FB66A9/213/178/

3 http://www.nolo.com/resource.cfm/catID/D80CF756-DBF6-432D-B625E7D1A29183D0/104/308/273/

4 http://www.wikihow.com/Be-a-Great-Landlord

5 http://www.wikihow.com/Be-a-Great-Landlord