Successful property management begins with thorough tenant screening processes that identify reliable renters while complying with fair housing laws and discrimination regulations. Establish consistent screening criteria including minimum credit scores, income requirements (typically 2.5-3 times monthly rent), employment verification, and positive rental history from previous landlords. Criminal background checks should focus on relevant offenses while avoiding blanket restrictions that could violate fair housing guidelines. Document all screening decisions and maintain consistent standards for all applicants to demonstrate fair and legal practices. Remember that the most qualified applicant isn't always the one with the highest income, as stability, reliability, and communication skills often prove more valuable than maximum financial capacity.

Property maintenance and regular inspections protect your investment while keeping tenants satisfied and reducing turnover costs. Establish preventive maintenance schedules for HVAC systems, water heaters, appliances, and other mechanical components to avoid emergency repairs and extend equipment life. Respond promptly to tenant maintenance requests, even for minor issues, as small problems can become expensive repairs when ignored. Annual or bi-annual property inspections help identify maintenance needs, lease violations, or safety concerns before they escalate. Budget 5-10% of rental income for ongoing maintenance and repairs, with additional reserves for major improvements or unexpected expenses like roof repairs or HVAC replacements.

Legal compliance and documentation protect landlords from liability while ensuring smooth property management operations. Stay current with federal, state, and local regulations regarding security deposits, rent control, eviction procedures, and habitability standards. Maintain detailed records of all tenant interactions, maintenance requests, rent payments, and property conditions through written communication and photographs. Use comprehensive lease agreements that clearly outline responsibilities, policies, and procedures while complying with local requirements. Consider professional property management services for multiple properties or when legal complexities exceed your expertise, as their fees often prove cost-effective compared to potential legal issues or mismanagement costs.