If your rental isn't performing like you expected, one of these might be why.
As a property manager and investor-focused broker, I regularly speak with owners who are frustrated with vacancies, repairs, or inconsistent cash flow. Most of the issues trace back to a handful of avoidable mistakes — especially when self-managing or juggling multiple properties without systems.
Mistake 1: Pricing the Property Based on Hope, Not the Market
Many owners set rent based on what they want or what they need to cover the mortgage, instead of what the local market supports. An overpriced property tends to sit, leading to longer vacancy and, eventually, price drops that still don't erase the lost time.
- Result: Longer vacancy, lower quality applications, and frustration.
- Better approach: Use current comparables, time-on-market data, and neighborhood trends.
- Goal: Find the rent number that maximizes annual income, not just the monthly amount.
Mistake 2: Loosening Screening Standards to Fill a Vacancy
When a property has been vacant for a few weeks, it's tempting to approve the first applicant who looks "good enough." The problem is that one poorly screened tenancy can cost more than a short vacancy ever would.
- Result: Higher risk of nonpayment, property damage, or lease violations.
- Better approach: Apply written screening criteria consistently to every applicant.
- Goal: Choose residents who can pay predictably and care for the property long-term.
You can review our written criteria any time here: View Screening Criteria.
Mistake 3: Treating Maintenance as an Inconvenience, Not an Investment
Delaying repairs or "patching" issues can feel like saving money in the short term, but it often leads to bigger problems and higher expenses down the road. It also affects tenant satisfaction and renewal rates.
- Result: Larger repair bills, more turnover, and a declining asset.
- Better approach: Address issues early and invest in preventative maintenance.
- Goal: Protect the property's value and keep good tenants for longer.
Mistake 4: Underestimating the Time Commitment of Self-Management
Between marketing, showings, screening, lease drafting, rent collection, maintenance coordination, and compliance, self-managing a rental is a part-time job — especially when unexpected issues pop up at inconvenient times.
- Result: Burnout, delayed decisions, and inconsistent experiences for tenants.
- Better approach: Build systems, or partner with a manager who already has them in place.
- Goal: Free up your time while keeping the property performing like an investment.
Mistake 5: Ignoring the Numbers Beyond Monthly Rent
Looking only at the rent amount and mortgage payment can hide the true performance of a rental. Taxes, insurance, maintenance, capital expenditures, and vacancy all impact your actual return.
- Result: Overestimating returns and underestimating risk.
- Better approach: Track income and expenses in a simple, consistent format.
- Goal: Understand your real cash flow and long-term equity growth.
Small adjustments in how you manage your rental — or who manages it for you — can make the difference between a stressful property and a solid long-term asset.
If you'd like to talk through your property, your numbers, or whether it makes sense to hand off management, I'm happy to walk through it with you.