TOP 50 MISTAKES LANDLORDS MAKE

The best mistakes to learn from are those made by other people! At PMI Virginia we support Hampton Roads landlords through education at the Hampton Roads Landlord Association. The video below is a recording of the HRLA November 2024 meeting where Patti Robertson presented the Top 50 Mistakes Landlords Make. Those mistakes are listed below. To listen to an explanation of why each of these actions is a mistake, be sure to watch the video!

1. Not learning and staying current on your state landlord tenant laws.
2. Not learning and staying current on fair housing laws.
3. Not joining industry associations.
4. Not going directly to the law when you have a scenario where you aren’t sure what to do.
5. Waiting until you have problem to develop a relationship with a landlord tenant attorney.
6. Not leaving your contact info with a neighbor.
7. Installing laminate wood flooring.
8. Not using washable paint.
9. Under or over rehabbing.
10. Not using a landlord lock system.
11. Not budgeting for long-term updates and replacements.
12. Not knowing your local inspection requirements.
13. Expiring leases in the dead of winter months.
14. Not staggering lease expiration dates.
15. Thinking leases have to be 12 months.
16. Allowing a prorated rent amount to be used for a mid-month move-in.
17. Identifying the property manager as the lessor instead of the owner.
18. Not making the tenant responsible for pest control, broker glass, the cost of lost keys, and any damage caused by the tenant.
19. Allowing a grace period for rent payments.
20. Not having every tenant identify if they ARE or ARE NOT in the military.
21. Not updating your Tenant Rights & Responsibilities Disclosure annually.
22. Picking up rent at the property.
23. Not doing periodic inspections.
24. Not issuing a 5-day letter on the day after rent was due.
25. Not using an attorney to obtain judgment if you plan to use one for collections.
26. Not having a system to document conversations.
27. Not having a system to document tenant charges and payments.
28. Not meeting the state required timeline for deposit dispensation.
29. Not including received with reservation and one time right of redemption verbiage on your 5-day letters if you have 5 or less units.
30. Not using a 21 day notice to cure lease violation letter for non-financial violations.
31. Not documenting move-in condition or noting no visible evidence of mold and bed bugs on the move-in condition report.
32. Treating the move-in condition report like a work order.
33. Not being thankful when a tenant submits a work order.
34. Not responding to maintenance requests in a timely manner.
35. Not telling vendors specifically to discuss repairs only with you, not the tenant.
36. Not knowing state law regarding mold, bed bugs, and maintenance.
37. Not checking your data and photos before you publish the ad.
38. Not checking on vacant properties on a regular basis to avoid squatters.
39. Putting a sign in the yard in a high crime neighborhood.
40. Not including your rental criteria in your ads.
41. Not using a syndication tool to advertise your properties.
42. Not “claiming” your properties on sites such as Zillow.
43. Stopping marketing before you have a full deposit and signed lease.
44. Not getting a complete application from every adult occupant.
45. Not screening every adult.
46. Not rejecting an applicant once you found out they lied on the application.
47. Having criteria or asking questions that violate the law.
48. Relying solely on automated screening tools.
49. Not verifying income with a third-party company.
50. Taking an out of state co-signer.