PROPERTY PROTECTION… TENANT SELECTION… TIME These three are the most important things for self-managing landlords AND if one of them is done incorrectly, out of kilter or not given the attention it deserves, then it will lead to all sorts of property problems. We are very fortunate to provide property solutions for a wide range of landlords from completely different backgrounds and circumstances. The particular landlord, in this case study, is a very capable businessman, so his property problem was time… He didn’t have the time it takes to closely manage his investment, which meant that the tenants had “taken over” the running of the house. This landlord is a very capable businessman, so his property problem was time. He didn’t have the time it takes to closely manage his investment, which meant that the tenants had “taken over” the running of the house themselves.
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This had led to a range of problems, namely: •
Sub-letting
•
Property damage (holes in the walls and floors)
•
No contracts between the landlord and the occupiers
And these were just the top 3….
The big lesson here is that property management takes time and if you don’t have the time to give to it, you may find that your property, your biggest asset, is being damaged and you are losing control.
