Successful Property Letting And Management

Successful Property Letting And Management is not something that just happens, it is something that has to be worked at, and planned professionally. When a landlord or an agent has a problem let, it is almost certainly to do with the suitability of the selected tenant. If you do not have sufficient expertise in letting property, then acquire some, or buy some. Speak to your Law practitioner; buy some relevant books, both of these work out far cheaper than the costs involved in dealing with bad tenants.

Many professional letting agents are called in by amateur distressed landlords part way through the tenancy because the tenant might not have paid the rent, they might have refused to leave the property, or they may be damaging the building or abusing the neighbours. The first thing the agent asks is, where is the tenancy agreement?

All too often the agreement has been hastily put together, even scrawled on the back of a cigarette packet. I have seen that. Sometimes there is no discernable agreement at all, sometimes the property has been let to the owner's best friend whom they just happened to have recently met in a local bar, and sometimes it is let to a distant and barely known relative. Surely that would be safe enough, wouldn't it? No, it isn't. Letting a property involves a professional contract between two parties and it should be treated as such. There is no room for making exceptions for "friends" or "relatives" here. All tenants must be dealt with in the same professional manner, regardless of who they are.

The vast majority of problem lets occur because the tenant has not been selected carefully enough, and the references have not been exhaustively followed through. Perhaps the references haven't been taken up at all. Worse than that, occasionally desperate landlords still proceed and insert a tenant into a property even while they are clutching a bunch of bad references, because the tenant has promised not to be a bad boy in future, or girl. How stupid is that? Bad references mean one of two things. Forget it, the preferred option, or insist upon a first class guarantor to sign the tenancy agreement, as well as the tenant.

Landlords may also experience problems because the property is not sufficiently well maintained. This policy is hard to figure out too. It may be a fact that generally properties are much better maintained than they were say twenty years ago, but there is still a swath of landlords who will not spend any money maintaining their property, ever. Talk about pulling hens teeth, and this is such a ridiculous attitude!

Imagine if you owned a manufacturing business that depended on the smooth running of the machinery and equipment for the business's wellbeing. You'd have it regularly serviced right? So what is the difference with maintaining your own property? It belongs to you, it is your asset, and it is probably the biggest asset you will ever own. So why prevaricate when it comes to spending a little money ensuring that it is in full working order? That doesn't make any sense at all, and as everyone knows, a small maintenance problem ignored today, will develop into a bigger and more expensive problem tomorrow. Deal with maintenance problems quickly, and you will always end up paying less for it in the long run

If you intend to embark on a career in property, make a pact with yourself that you will always carry out your business as professionally as any big city agency. If you are thinking of doing it on the cheap, by cutting corners and taking chances, then please don't get involved at all. You'll surely regret it. Taking risks and cutting corners is a sure-fire way of meeting disaster head on. Sooner or later your enterprise will slip into the mire of self-destruction and that will be fatal for your business. Remember the rule, total professionalism always. Anything less, and you'll fail. Guaranteed.

David Carter has written many published articles. His latest work is SPLAM! Successful Property Letting & Management. This 240 page book looks at property letting starting out at finding properties. How to obtain them, how to gain the landlords trust,right through to letting and protecting ongoing lets. The book was written after 10 years successful property management, and after completing 1,000's of successful property deals. SPLAM was originally written for property people operating in Britain, but it is crammed with useful property information and ideas for property people everywhere. A bad tenant is a bad tenant whether they are in Wolverhampton, Winnipeg, Wichita, Wellington or Wagga Wagga! There is an extensive section on how to deal with problem tenancies, and more importantly, how to avoid them in the first place. This book is not marketed and remarketed by everyone this side of the Orinoco,it is only available online from David's publishers though it will soon be found at Amazon and in your local book stores. Check out http://www.splam.co.uk ISBN 1-4116-3444-6

---

3 Tips to Help You Sell Your Timeshare - For More

The values of timeshares are constantly changing. There are numerous... Read More

Buying A Home ? What Is That Noise!?!

You've found the perfect home, closed escrow and just finished... Read More

How to Attract Clients in Residential Real Estate

Doesn't it seem like everyone you know has a friend,... Read More

Tenant/Buyers Have Multiple Options

Lease Purchasing affords the tenant/buyer a wonderful opportunity to get... Read More

Subdividing - But NOT Land!

Many people are familiar with the concept of sub-dividing a... Read More

Let the Broker Show the House

Of course you're curious, and you'd like to see what... Read More

10 Tips to Sell Your House Faster!

Here are some Handy wee Tips to help you Sell... Read More

Helpful Hints for First-Time Home Buyers

Buying a house can be a daunting task, even for... Read More

Should You Sell Before the Housing Bubble Pops

For the past several years housing prices have risen dramatically.... Read More

Real Estate Season is Here

Yes, it has finally arrived. This is the time of... Read More

Buying Houses at Discount Prices

Buying a house is the best way you can create... Read More

The 5 Biggest Mistakes Made When Getting A Business Appraised

Most business owners will, at some point, want or need... Read More

The Value of Foreclosed Property

The discount on a foreclosed property is not as great... Read More

Foreclosure Home Deals

Did you know that you can save tens of thousands... Read More

According To Sellers, Silence Isnt Always Golden?

When trying to sell a home, silence isn't always golden... Read More

The Most Sensible Investment Decision Youll Ever Make

So much advice is bandied about on the internet and... Read More

How To Realistically Get Started As A Real Estate Investor

When it comes to real estate investing, most beginners find... Read More

The Value of Building Home Equity

There are numerous advantages to owning a home. One of... Read More

Real Estate Investors - Red Alert

How's the real estate marketing doing? Is the huge jump... Read More

Apres-Ski

European tax haven Andorra enjoys the same fiscal benefits as... Read More

How Does Interest Rates Affect New Home Sales and Wheres The Best Place To Build?

These real questions on new home starts and interest rates... Read More

How to Achieve Financial Freedom with Your Home

The secret disclosed on how you too could achieve financial... Read More

Relocation Humor: Why I Bought A House

The Rental Experience in South FloridaReaders: This is based on... Read More

Cashing Out of Preforeclosures - Exit Strategies for Maximum Profit

One of the quickest ways to real estate profits is... Read More

Sell your Property Faster

Learn how to sell your property faster and at the... Read More

How to Buy Your Own Home

Buying Your First HomeBuying Your Own Home isn't nearly as... Read More

Selling Your Own Home ? Pet Issues

If you are selling you own home, you need to... Read More

Real Estate Investing - Books,TV Infomercials, and Seminars

Real estate investing has become popularized today because of real... Read More

Create a Great Webpage to Sell Your Home

The majority of people in the UK who are looking... Read More

Crossing the Gap from this Home to the Next: Bridge Loan

So you're thinking of getting into a bigger house. You... Read More

Buy to Let Property Investment

In recent years buy to let has been a popular... Read More

Real Estate Investors: How to Get a Powerful Marketing Education for Free

I am a total geek.A few weeks ago, late at... Read More

Do Bankers, Bubble, Discounters, & Justice Department Cloud Real Estate Industry?

Once relegated to the classified advertising section of the local... Read More