If you’re looking for the best property management books around, we’re here to help. Our professional property managers have chosen our personal favorites for your viewing pleasure. There’s something for everyone here, whether you want general books or ones on specific topics, like taxes. Read below for some great recommendations on managing rental properties.
Table of Contents
Best Property Management Books for Beginners
In this section, our property managers in Philadelphia will look into some of the best property management books for those just starting out. These books can help you get a clearer grasp of the property management landscape as a whole.
1. Every Landlord’s Guide to Managing Property by Michael Boyer
Here, Boyer offers a window into tenant retention, basic property maintenance, finding good contractors, accounting, and other key tasks. If you want to learn about managing rental properties on a small scale, like a handful of single-family ones, this book might be for you.
2. The Book on Managing Rental Properties: A Proven System for Finding, Screening, and Managing Tenants with Fewer Headaches and Maximum Profits by Brandon and Heather Turner
Any list of best property management books would be remiss to forget this classic guide. In the Turners’ cornerstone book, they map out their journey to success and share tips for replicating it.
Their tricks of the trade help you stay on the defensive to avoid fatal flaws. For instance, they share the seven hidden red flags you should look out for in tenants, as well as the 19 lease provisions you should include to prevent legal pitfalls. Implementing just a few of these safeguards can help you secure your business.
3. The Property Management Tool Kit: 100 Tips and Techniques to Getting the Job Done Right by Mike Beirne
In this book, National Apartment Association Vice President Mike Beirne divulges some of his best practices for managing rental properties. To start with, he shows how to deal with day-to-day issues like rent collection and record keeping. Then, he goes into how you can expand your portfolio and add value to your existing one. Even better, he includes sample forms, like a maintenance log, for your reference. All in all, if you want to refine your procedures, this book could be a great way to start.
Best Books for Landlords for Further Reading
Next, let’s look at some of the best books for landlords that review specialized topics. These books can give you a greater understanding of legal compliance, tax strategies, repair processes, and more.
1. Landlord’s Legal Kit for Dummies (2nd Edition) by Robert S. Griswold and Laurence C. Harmon
Many laud “Landlord’s Legal Kit for Dummies” as one of the best property management books for decrypting legalese. It breaks down relevant housing laws and their implications, describes tax laws in layman’s terms, and explains both landlord and tenants’ rights alike. It includes reference templates. To boot, buying the book gives you access to a database of online worksheets. It’s a win-win!
2. Essential Property Investment Calculations: The Numbers-Led Approach to Property Investment and Property Management by Robert Heaton
Flaunting a 4.8 rating on Amazon, this is considered one of the best books for landlords for seamless number-crunching. It contains formulas for deducing everything from your ROI, your attainment of KPIs, and your level of investment risk. With these calculations, you can get a better idea of where exactly you’re at and where you want to be in your investing journey.
So, if you’re struggling to tie your finances together and see how they connect to the big picture, this book can help you build a foundation for the future.
3. The Book on Advanced Tax Strategies: Cracking the Code for Savvy Real Estate Investors by Amanda Han and Matthew MacFarland
As a BiggerPockets publication, this is one of the more well-known property management books about tax benefits and deductions. CPAs Amanda Han and Matthew MacFarland outline huge tax loopholes that could save you thousands. For instance, they go over tax deferral strategies, tax reform benefits, tax mistakes to avoid, and other techniques to remember. By implementing their fixes, you could exponentially expand your income.
4. 100 Things Every Homeowner Must Know: How to Save Money, Solve Problems, and Improve Your Home by The Family Handyman brand
In this book, the trusted brand The Family Handyman gives readers easy ways of managing rental properties that won’t break the bank. They discuss natural disaster prep, pest control, noise elimination, and even tips to lengthen your appliances’ lifespan. When you want easy fixes for your property, this book could be a great choice to turn to.
5. Field Guide for Practical Apartment Management by the Institute of Real Estate Management (IREM)
If you’re managing rental properties on a bigger scale, this planning book may be just what you need. Over 12 experts in the property management industry share their top tips for running a multi-family rental business here. Together, they cover the basics of budgeting your operations, implementing marketing strategies, developing plans to minimize risks, and more. It can serve as a model for new and advanced property managers alike.
6. Preventative Maintenance for Multi-Family Housing: For Apartment Communities, Condominium Associations, and Town Home Developments by John C. Maciha
As far as property management books go, this one is on the pricey side. However, at a mammoth length of 306 pages written by someone with 30+ years in the industry, it may be worth the price.
Here, John C. Maciha goes into meticulous detail about how to audit nearly every apartment crack and crevice for preventative maintenance. Also, he explores virtually every possible aspect of operating an apartment complex, from preventing fires to servicing HVAC units to planning out parking lots. For those who want a comprehensive guide that seems to leave no stone untouched, this could be a prime pick.
Get Help Managing Rental Properties with BMG
By reading some of the best property management books around, you can more thoroughly understand the nuances of this business. You can ensure that you’re armed with the information you need to succeed.
However, reading property management books and living out their lessons in real life are two very different things. After all, it’s easy enough to read about an experience, but nothing tops having years of that lived experience, born from exhaustive trial-and-error.
And even if you do try to start applying your lessons in practice now, tenants won’t tolerate any mistakes you face along the way. You would be taking a massive gamble that could cost you your tenant retention. Effectively, your bottom line could bleed dry.
To prevent this outcome, the best antidote is professional property management. Professional property managers have been there, done that. They are specially trained to know industry best practices like the back of their hand. For instance, they can handle:
- Marketing
- Accounting
- Rent collection
- Move-in processes
- Property maintenance and repairs
- Legal compliance
- Property inspections
- Tenant screening
- …and more!
Contact us today to cultivate a more resilient rental business.
