5 Common Mistakes Knoxville Landlords Make (and How to Avoid Them)

If you’ve been in the landlord game in Knoxville for a while, you probably have your own “I’ll never do that again” stories. Trust me — I’ve got plenty.

I’m Mike, a local property manager here in town, and over the years I’ve seen landlords make the same handful of mistakes again and again. Some are small slip-ups, others are the kind that cost thousands. Today, I’m laying out the five most common mistakes Knoxville landlords make — and how you can dodge ‘em.

1. Skipping Thorough Tenant Screening

I get it — a nice conversation and a handshake can feel like enough. But more than once, I’ve seen landlords take in a tenant without running a credit check or calling references… and then spend months chasing late rent.

Always run credit, income, rental history, and background checks. It’s not about being suspicious — it’s about protecting your investment from day one.

2. Using a Generic Lease Agreement

That free lease you found online? Probably not built for Knoxville eviction laws or Tennessee rental rules.

A lease should be customized to your property, include clear move-out procedures, pet policies, and late fee terms. One landlord I know used a generic lease and ended up eating repair costs the tenant should’ve covered — all because it wasn’t spelled out clearly.

3. Neglecting Regular Inspections

Out of sight, out of mind? Not so much. I’ve walked into units after a year without a visit and found slow leaks, pest issues, and… let’s just say creative wall paint choices.

Schedule inspections at least twice a year. It’s easier to fix a $50 drip now than a $5,000 mold problem later.

4. Underestimating the Cost of Turnovers

A vacancy isn’t just missed rent — it’s cleaning, repairs, utilities, and advertising. If you don’t budget for at least a month’s rent between tenants, you could get caught short.

Pro tip: build a “turnover fund” by setting aside a small percentage of each month’s rent.

5. Trying to Manage Everything Alone

Property management takes time, patience, and a thick skin. From late-night maintenance calls to navigating eviction notices, it’s not for the faint of heart.

That’s where a professional can save you time and stress. At Asset Realty Management, we handle tenant screening, lease enforcement, maintenance, and even the tricky legal stuff — so you don’t have to.

Mike’s Final Word

Being a landlord in Knoxville can be rewarding, but it’s also a business — and businesses run best when you avoid repeat mistakes. Screen thoroughly, get a solid lease, check on your properties, budget for turnovers, and know when to call in backup.

If you’re ready to make your rental business smoother (and a lot less stressful), give me a call at 865-247-0027. I’ll help you set things up right from the start.