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

---

Selling Your Home Quickly, Even if You Have No Money For Repairs

Do you need to sell your home quickly? If so,... Read More

How Much Should I Pay For This House?

We probably answer this question for someone a couple times... Read More

How Professional Property Investors Interpret and Use Capital Growth Statistics

Understanding and using yearly price growth statistics in an area... Read More

Home Sellers Warning for Young Families

If you're thinking about selling your home and moving up,... Read More

Ten Big Mistakes That Will Lose That Property Sale

If you are serious about selling your home, you probably... Read More

How to Negotiate a Successful Short Sale

Anyone who has ever profited from doing a short sale... Read More

What is a Home Inspection?

Any Sally and Sam Homebuyer can look at a home... Read More

Grab Quick Profits As Real Estate Prices Soar

Real estate values rise and fall in cycles. Currently home... Read More

What to Look Out For When Buying Off Plan

Buying Off PlanIt can be difficult to decide when every... Read More

Want A $10,000 House?

How do you find a house for ten or twenty... Read More

Selling Your Property Without An Estate Agent

It is possible to save £1,000s selling your home privately... Read More

10 ?No Money Down? Ways to Buy Real Estate

Turn the Television on any Sunday morning and you'll find... Read More

How to Eliminate Risk in Real Estate Investment

Avoid 12 Common Mistakes Made by Novice Investors and Ensure... Read More

Let the Broker Show the House

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

Guide To Finding Maui Waterfront Property

Have you ever dreamed of living in a spectacular tropical... Read More

Personal Debt Can Disappear When You Set up a New Business

I teach students how to set up a new business... Read More

How to Decrease the Value of Your Own House

Owning a house is part of the American Dream. Depending... Read More

Lease Purchasing Is The Perfect Home-Based Business

Some call it the 30 second commute. We call it... Read More

Beat the Crowd when Investing in Real Estate

We all are thinking about it and some of us... Read More

According To Sellers, Silence Isnt Always Golden?

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

Appraisal or Home Inspection?

People sometimes confuse a home inspection and an appraisal when... Read More

Real Estate: The Consumers Will Have The Final Word!

"The first step toward change is awareness. The second step... Read More

Why I Love Country Living

As somone who has lived in both places, I can... Read More

Real Estate, Real Property and Leased Land; Definitions, Discussion and Explanations

Delaware, and the rest of the original British Colonies, has... Read More

Real Estate Remains A Strong Investment

Opportunities to make big, quick profits in residential real estate... Read More

Seller Financing - Six Safety Tips

Why offer seller financing when you sell? A higher price,... Read More

Product Review of Carelton Sheets No Money Down Course

Real estate continues to be a very important part of... Read More

Buying a Newly-Built Home? Ten Benefits of Using a Real Estate Professional

It might not seem necessary to involve a real estate... Read More

Why Mobile Homes?

There are mobile homes for sale, for much less than... Read More

Real Estate Investing - The Marvel Of Home Depot And Lowes

Repairing a rental home (or your own home) use to... Read More

Making a First Impression When Selling Your Home

So you've decided to take advantage of the booming real... Read More

How to Build a Real Estate Investing Power Team

As you continue to read about real estate investing, you... Read More

Real Estate Investing: America Rents

Most people in America rent a personal dwelling!Just think how... Read More