I notice today 16th of October the tip was “There are two reasons why a tenant moves on… a change in lifestyle and/or a bad landlord” the answer “Who's doing who a favour in a landlord / tenant relationship? Your answer to this question will reveal whether you have a property or tenant focus. If you regard the tenant, as opposed to the property, as the source of your income that finances your ongoing wealth then you'll be able to start thinking about ways to improve your service and accordingly your property returns. Being a good landlord is easier than you might think. All most tenants want is a neat and tidy property and someone who will act promptly to fix maintenance issues as they arise. There are many ways that you can improve the service you offer at the same time as charging a premium market rent. It's all about asking your tenants what they'd like and then creating a win-win outcome.”
This to someone like me who spends his days dealing with tenant/ landlord issue, is a little simple and some what narrow in a explanation.
Tenancy go wrong for any number of reasons, change of lifestyle, living arrangements, work, DRUGS and Alcohol, relationship breakdown the list goes on.
When dealing with a tenant and investment property your focus is on both. It is after all a symbiotic relationship you have to manage, one can not live with out the other.
To do this you need to have very clear rules you and/or your property manager must follow for this relationship to work. Its crucial that you remember that this a business you don’t mortgage your selves to the limited for the fun of it.
Being a good landlord is not hard I agree but being a good property manager is harder and you need to remember that landlords and property managers are two completely different people and in the case of private landlords you have to wear both hats.
Any questions drop me a line
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