- Treat them like people. This means just treating them with respect. Treat them how you would want to be treated. Speak to them the way that you would want to be spoken to. This is important because it will remind you that when it comes time to make tough or expensive decisions, you base your decision off of the human factor and not just the bottom line.
- Take care of maintenance, preventative and reactive. Take care of maintenance issues in a timely manner. This doesn’t mean drop everything you’re doing for small issues, but when it comes to major issues, make sure you address the issue quickly. Also, take care of the small things that will need to be taken care of in the future. Make sure your tenants see you and that they notice that you’re looking out for them.
1. Short-term rentals depend on the tourism industry.
These rentals and their high rates rely on tourists and some business travelers. We’ve been through plenty of fluctuations before, where when the economy winces, tourism grinds to a halt. This could be due to terrorism, a natural disaster like a hurricane, or simply the economy tightening. That can evaporate demand for these units fast. Continue reading 5 Reasons Short-Term Rentals Aren’t a Sustainable Investment Strategy
1. They are affordable.
In fact, they’re much more affordable than I originally thought. When I factored in all the things they did and the time they saved me, it is well worth outsourcing. Companies like homizone provides people with a dedicated property manager at an unbelievable low cost, which is as low as Rs 100 per month. Continue reading 9 Advantages to Hiring a Property Manager (& Why I Wish I Did Sooner)
You cannot easily fix a neighborhood. Sure, you could join the local city council and start a neighborhood watch, but the neighborhood is not likely going to change because you want it to. Therefore, I don’t want to buy a property where the neighborhood will always be an unsolvable problem. Continue reading 3 Problems I Avoid When Shopping for a Rental Property
Many times, when purchasing a rental home at a low price, the home needs a lot of work. For you to get the most out of your investment, you need to plan repairs in such a way so that the home will bring you the biggest return once rented. The best plan is to keep the repair costs low while still making the home look great. Continue reading What to Invest In Before you Rent That House Out
Whether you are not happy with your current place or are dreaming of killing your roommate in his/her sleep, we have you covered with some very important tips to keep in mind while looking for a new place to call home Continue reading Whether you are not happy with your current place
Once one starts working, few get to see their friends the number of times they actually wish to. We spend more time with our colleagues and roommates than with our friends and families. Continue reading Once one starts working, few get to see their friends
5 Easy Ways To Make A Flat Feel Like Home
You have found a place to live, your stuff has been moved in, but the colour of your walls depresses you and the old rusty cupboard almost makes you regret putting your clothes inside it. Continue reading 5 Easy Ways To Make A Flat Feel Like Home
The biggest advantage of sharing an accommodation is that the individuals can afford to stay in a centrally located area of the city, points out Ritu Arora, Punya’s Property Solutions, Bengaluru. “They share the rent, security deposit and essentials like electricity, water bill, etc. So, the personal expenditure is reduced. One can even hire a cook, to have home-cooked food. In some cases, such tenants even open a common bank account and one person handles the pay-outs. However, in most cases, each one gives their share on a monthly basis. In case one person is leaving, either all the others pay back his share of the deposit and share the rent amongst themselves, or bring in a new person who takes over from the one exiting. All these are quite well worked out and generally move smoothly,” Arora elaborates.
Renting out a property involves promotion of your property, doing the paperwork and liability towards tenants. Giving a property on rent comes with certain challenges, including searching for the right tenant, ensuring the property is not misused by the tenants, keeping a check on the damages and maintenance, and ensuring there are no delays in the payment of rent.