As you know, being a landlord is an excellent way to create a passive income by simply renting out your property. You own the property, and people pay you monthly to be able to use your space.
But, one common problem is that landlords often find themselves with a lot of stuff, which can be a hassle, especially if you’re trying to live a minimalist lifestyle.
So, how can you incorporate minimalism into your daily landlord duties?
Below, we’ll take a look at 3 minimalist tips for landlords.
1. Get Rid of Anything Unnecessary
After having your property rented out for a while, you’re bound to end up with a lot of stuff. Sometimes, it’s furniture that was left after your previous tenants moved out. Other times, you simply collect things because you think that you might end up using them for your rental property.
The problem is that most of these things tend to sit in storage and, sometimes, they don’t even end up being used at all.
With that said, it’s a good idea to take a look through your things and see what isn’t being used. If it’s been stored for longer than you can remember, or you have yet to use it and can’t see it being useful in the near future, just get rid of it.
In the process of getting rid of all your unnecessary belongings, you’ll quickly start to see how much space you actually have. Part of being a minimalist is making the most out of everything you own, including your space.
So, if your rental property has a garage or a storage shed filled with unnecessary belongings, get rid of it and start decluttering your spaces.
Once you’ve decluttered your storage spaces, you’ll have much more room to use your spaces efficiently. Who knows? You could even end up with enough space to carve out and build an entirely separate rental unit!
3. Dual Purpose Everything
As a minimalist, everything you own needs to have more than one purpose. So, as a landlord, you can take a minimalist approach to your rental property by installing fixtures or amenities that serve two purposes.
For example, you could install rain barrels under your rental’s eavestroughs to store fresh rain water. Or, you could install a grey water system in your rental unit. Grey water is water from your sinks and tubs, which has been lightly used, but has not come into contact with the blackwater from your toilet or sewage system.
A grey water system recycles this lightly used water, which although it cannot be used for drinking, can be re-used for flushing your toilets.
Being a Minimalist Landlord
Being a landlord and a minimalist is somewhat of an oxymoron. Landlords make a living by owning things, whereas, minimalists strive to live their lives without owning any material possessions whatsoever.
But, by following these 3 minimalist tips, you’ll be well on your way to reconciling the minimalist inside of you, even if you happen to own a property or two.
Eric Worral has owned and managed rentals for over 9 years. Currently, he works in marketing at RentPrep.com, a tenant screening service for landlords and property managers. He’s also the co-host of the “RentPrep for Landlords” podcast where he shares tips and insights on managing your rental properties.