7 Common Mistakes Landlords Make (and How to Avoid Them)
Managing a rental property might seem simple — until it isn’t. Even experienced landlords can fall into costly traps that affect tenant satisfaction, cash flow, and property value. Whether you’re a DIY landlord or working with a property manager, understanding what not to do is just as important as knowing best practices.
At Oakmont Property Management, we’ve worked with hundreds of investors across Richmond, Hampton Roads, Lynchburg, and Charlottesville. We’ve seen what works — and what goes sideways. Here are 7 common mistakes landlords make, and how to avoid them.
1. Underestimating the Time Commitment
Landlording isn’t passive — not if you want to do it well. From tenant communication to maintenance calls at 2 a.m., managing even a single rental can eat up your time.
According to a Buildium study, the average self-managing landlord spends over 8 hours per month per property on administrative tasks alone.
https://www.buildium.com/blog/landlord-stress-statistics/
Avoid it: Consider working with a property manager who can handle the day-to-day, freeing you to focus on strategy — or just enjoy your evenings.
2. Skipping Thorough Tenant Screening
One bad tenant can cost thousands in missed rent, damages, and legal fees. Yet many landlords still rely on gut instinct or basic credit checks alone.
Avoid it: Use a full screening process that includes:
Credit history
Criminal background
Rental history verification
Employment and income confirmation
At Oakmont, we follow Fair Housing-compliant screening protocols to ensure you’re placing the right people in your property — legally and effectively.
3. Failing to Understand (or Follow) Landlord-Tenant Law
Virginia’s rental laws are very specific — and they change. From security deposit handling to eviction procedures, non-compliance can get you sued or fined.
Learn more about your responsibilities under the Virginia Residential Landlord and Tenant Act (VRLTA).
https://www.dhcd.virginia.gov/landlord-tenant-resources
Avoid it: Stay up to date on state and local laws, or partner with a management company who already has that knowledge baked in.
4. Not Raising Rent Strategically
Raising rent feels awkward — but failing to adjust rates over time can severely limit your returns and reduce your ability to cover rising expenses.
In Richmond, average rents have increased over 25% in the last 5 years.
https://www.zillow.com/richmond-va/home-values/
Avoid it: Reassess market rents annually and increase modestly and predictably. A good manager can help you stay competitive without spooking quality tenants.
5. Neglecting Maintenance (Especially Preventative)
Deferred maintenance is one of the fastest ways to turn a great property into a money pit — and lose tenants in the process.
Avoid it: Set up a preventative maintenance schedule for HVAC, plumbing, roofing, and more. Quick response to small repairs also shows tenants you care, which boosts retention.
We use a vetted network of vendors across Central and Coastal Virginia, which means our clients benefit from quality work at fair prices — without the stress.
6. Lack of Clear Documentation
From lease agreements to maintenance logs and tenant communication, documentation protects you in case of disputes.
Avoid it: Use professionally prepared leases that clearly spell out:
Rent due dates
Maintenance responsibilities
Rules around pets, subleasing, and notice to vacate
Penalties for non-compliance
Store all records securely and digitally for quick access if issues arise.
7. Trying to Do Everything Yourself
Maybe you’re handy. Maybe you’re a great communicator. Maybe you’ve watched every landlord horror story on YouTube. Still — it’s easy to get overwhelmed.
Avoid it: Know your limits. Hiring professionals to handle leasing, legal, maintenance, and accounting can actually improve your ROI and reduce liability.
At Oakmont, we help you focus on being an investor — not a 24/7 repair hotline.
Work Smarter. Let Oakmont Help.
Whether you’re managing one unit or a full portfolio, avoiding these common mistakes can save you thousands — and plenty of stress. At Oakmont Property Management, we combine local expertise with full-service support to help landlords succeed in Richmond, Hampton Roads, Lynchburg, and Charlottesville.