Landlord Questions and Answers
Have you ever wondered whether you should be using property managers to take care of your property? Maybe you have wondered whether you really need to do credit checks on prospective tenants?
Or perhaps you just want to know the best tactics for dealing with a late rent payment from a tenant? These are three of the common questions I asked over and over and in the following video I’ll provide you with the pros and cons of property managers versus self managing, why you do need to run credit checks on tenants before they get in your property and steps to take with late payments.
The live recording was almost 30 minutes in length and as one of the attendees pointed out “the live events are way better!”, so if you enjoyed this edited version, be sure to leave a comment about future online events you might be interested in seeing.
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Looks like the link changed, I just fixed it for you Michelle!
Concise easy to follow, basically I work outside the country my property is being leased so I use a real estate agent for the job. However this last time my home is on lease something new has started to occur. Before people would only show interest in the property if they could afford it and then pass judgement on a take it or leave it basis depending on how the liked the property.
Now I get the real estate agent forwarding me the counter propositions of the potential tenants and all of them trying to place fault on the property in an attempt to get a discount around 120 dollars less a month, either because the kitchen does not have full equipment or because each room requires more storage space. The house is rented unfurnished, but when I offer to buy these things lacking as long as the rent is not lowered, they are no longer interested or place so many obstacles you would not believe. One of them wanted to know the level of energy consumption and size of the refrigerator before I bought it to see if it suited his needs further would like to accompany me on buying the wardrobes in order to make sure I fitted exactly the ones he liked. My home has air cons in all rooms with air purifier and heat pump, double glazing PVC windows, floating floors with acoustic and heat insulation all the bells and whistles, however still something has to be lacking just to try and lower the rent, this is new to me. If the agent sugested the property rent should be raised why then forward all this garbage to me? Deal with it!!! Present the finished product, bring me someone convinced to sign for the agreed price not all the means to invent the light bulb but a fully finished one. Don’t you think?
Regards
Hi Claudino,
Has this change occurred since the Real Estate agent took over, or after? If could be a change in the rental environment, or the way the agent is marketing it. If it’s the same person, you may want to start by reviewing your ads to see if they are clear as well or if they have changed.
You may need to focus more on the benefits your property has for people to help keep them on track. sometimes just a new ad can make all the difference.
If the rental market has become softer and there are more vacancies, tenants may be in a situation where they can flex their muscles a bit more and become more demanding. This can create an environment similar to what you are talking about. Ultimately though, you’re the boss, if they cannot work with you, they may not be the right tenants and if you have to bend to all of their demands now, where will this lead you in a few months when they understand they are in control and you aren’t?
Just something to consider when you are dealing with the demanding tenants!
Bill
Great Stuff! Good Info!