Managing rental properties in Columbus can be rewarding — but only if you avoid the costly mistakes that trip up many new and seasoned landlords alike. At Aksarben Property Management, we’ve helped countless property owners steer clear of the pitfalls that can turn a promising rental property investment into a financial headache. Whether you’re a first-time landlord or a seasoned real estate investor, understanding the top mistakes Columbus landlords make (and how we help you avoid them) is key to running a successful rental business.
Poor Tenant Screening: A Costly Mistake for Rental Properties
A common mistake landlords make is inadequate tenant screening. Inexperienced landlords often rely on gut feelings or minimal background checks, which can lead to unreliable tenants, lost rent, and property damage.
At Aksarben Property Management, our comprehensive tenant screening process includes background checks, credit reports, previous landlord references, and income verification. We help property owners screen tenants thoroughly to ensure reliable tenants who pay rent on time and take care of your property. This legal protection saves you from potential eviction proceedings, legal fees, and lost rent.
Underestimating Costs and Overestimating Rental Income
Another trap for new landlords is underestimating costs and overestimating rental income. Managing rental properties comes with hidden costs, like property maintenance, legal fees, and costly repairs, that DIY landlords often overlook.
We help you build realistic budgets that include all maintenance responsibilities, potential vacancies, tax deductions, and property damage costs. With Aksarben Property Management on your side, you'll better understand when to adjust rental prices and ensure your rental price reflects both market trends and property expenses.
Neglecting Lease Agreements and Verbal Agreements Gone Wrong
Some inexperienced landlords make the mistake of relying on verbal agreements instead of clear, legally binding lease agreements. This opens the door for disputes about rent payments, lease term misunderstandings, and maintenance issues.
As your professional property management company, we draft thorough rental agreements that comply with federal laws, local laws, and the Fair Housing Act. Our lease agreements clearly outline rules about renters' insurance, security deposits, property maintenance, and more. This clarity ensures a successful landlord experience by protecting both you and your tenants.
Ignoring Local Housing Codes and Legal Requirements
Staying compliant with local housing codes, tenant laws, and eviction procedures is essential for successful property management. Yet many first-time landlords are unaware of these regulations, leading to legal problems and financial losses.
Our team keeps up-to-date on all local laws, federal laws, and housing codes in Columbus and Omaha to ensure your rental properties remain compliant. From eviction process guidelines to requiring renters' insurance, we help safeguard your rental business from costly legal missteps.
Failing to Separate Personal and Rental Finances
Mixing your rental business finances with personal finances is one of those common mistakes landlords don’t notice until tax season—or worse, an audit. Without separate bank accounts, tracking income, expenses, and tax deductions becomes a nightmare.
Aksarben Property Management simplifies financial management by providing detailed income and expense reports for each property. This makes it easy to consult with a tax professional and maximize deductions from your rental property investment.
Not Retaining Tenants or Prioritizing Tenant-Landlord Relationships
High tenant turnover leads to lost rent, costly repairs, and vacancy expenses. New landlords often overlook how important it is to retain tenants and build strong tenant landlord relationships.
Our approach to managing rentals focuses on clear communication, responsive property maintenance, and fair treatment of tenants. We help property owners create a positive rental experience that encourages reliable tenants to renew their leases—boosting your long-term rental income.
Setting the Wrong Rental Price
Setting your rental price too high can scare away potential renters. Setting it too low means you’re leaving money on the table. Many landlords struggle to adjust rental prices appropriately to reflect the Columbus market.
Aksarben Property Management conducts in-depth market analyses to help property owners set competitive, accurate rental prices. Our expertise ensures your rental income meets your financial goals while attracting quality tenants. Take advantage of our Agent Referral Program to receive the best possible property management experience for your client.
Overlooking Renters Insurance and Legal Protection
Requiring renters' insurance is a smart move, yet many landlords forget to include this in their lease agreements. Without renters' insurance, tenants’ personal belongings aren’t protected in the event of property damage, and neither are you.
We ensure all tenants carry appropriate renters' insurance as part of the lease term. This protects both property owners and tenants, reducing liability in case of emergencies.
Ignoring Property Maintenance and Delaying Repairs
Procrastinating on property maintenance issues or ignoring property maintenance altogether is one of the costly mistakes that frustrates tenants and damages your investment. Delayed repairs often lead to costly repairs down the road.
As a full-service property management company, Aksarben Property Management coordinates timely maintenance and repairs through trusted vendors. Regular inspections, quick response times, and preventative care help protect your rental properties and satisfy tenants.
Failing to Plan for Evictions and Legal Disputes
No landlord wants to deal with the eviction process, but being unprepared can drag out eviction proceedings and lead to unnecessary legal fees. Some landlords don't even know how to begin the eviction process in compliance with local laws.
We handle all aspects of eviction procedures for property owners, ensuring compliance with tenant laws and minimizing legal risks. Our process protects your financial success and speeds up the re-rental process.
Why Partner with Aksarben Property Management?
Avoiding these common mistakes landlords make doesn’t have to be complicated or stressful. With Aksarben Property Management, you benefit from decades of experience, local expertise, and a proactive approach to managing rental properties. Considering renting a home might be the perfect option for your family. Here are five things to consider when looking for homes for rent.
We help real estate investors, property owners, and first time landlords in Omaha save money, avoid costly mistakes, and create a successful rental experience. Our services—from tenant screening and lease agreements to property maintenance and financial reporting—provide comprehensive support for every step of your rental journey.
Final Thoughts on Becoming a Successful Landlord
Owning rental properties can be one of the best paths to building wealth—but only if you avoid the traps that hurt so many inexperienced landlords. By partnering with a professional property management company like Aksarben Property Management, you can enjoy peace of mind, stronger tenant-landlord relationships, and consistent rental income.
If you’re ready to strengthen your rental property investment in Columbus or Omaha, learn more about how we can help. Contact us today!
