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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
MORE RESOURCES: Cary Grant’s widow has listed the estate they shared for $77.5M — featuring a complete overhaul New York Post Altadena’s rough real estate market: Slower sales, lower prices, lottery winner plucking up properties Los Angeles Times Real estate magazine reports Les Wexner as Blue Heron buyer The Martha's Vineyard Times Real estate expert warns socialist mayoral candidate could trigger massive NYC exodus - Fox Business Bedrock flexes its real estate portfolio to grow Detroit's tech ecosystem - Crain's Detroit Business Bedrock flexes its real estate portfolio to grow Detroit's tech ecosystem Crain's Detroit Business Office real estate wide open in Denver as vacancy rate hits 36 percent Colorado Public Radio Vail Valley real estate inventory is on the rise VailDaily.com NAR Real Estate Forecast Summit National Association of REALTORS® Real Estate Partners Dollar Tree Let's Talk Business: June residential real estate sales lagging, heritage grants and more Pueblo Chieftain A New Perspective: Here Comes the Groom | Real Estate Insights Piedmont Exedra Boston Real Estate Times Unveils 2025 Excellence Award Winners: Honoring the Visionaries Shaping New England’s Future Boston Real Estate Times State lawmaker joins Westport commercial real estate brokerage as vice president Hartford Business Journal Dawson County weekly real estate transactions, July 18 Central Nebraska Today Private Credit Surges in 2025 as Real Estate Developers Bypass Banks The World Property Journal Real estate news: Senior apartments in Tustin sell for $83M; Fullerton Metrocenter snares $118M Orange County Register New York Housing Market Trends 2025: Is the Tide Turning for Buyers? Norada Real Estate Investments 5 Essential Tech Tools for Real Estate Agents National Association of REALTORS® Los Angeles Water & Power commits $100 to real estate debt Pensions & Investments Property management with an owner’s mindset J.P. Morgan Today’s Mortgage Rates: The States Offering Lowest Rates – July 18, 2025 Norada Real Estate Investments SRS Real Estate Partners Arranges $4.53 Million Ground Lease Sale of Walmart Property in Deltona, FL citybiz Corcoran McEnearney Announces Evan Lacopo to Lead the Number One Real Estate Office in Alexandria, Virginia Alexandria Living Magazine Real Estate Market Report (June) highlandscurrent.org Banner Real Estate Group Breaks Ground on 334-Unit The Faywell Multifamily Development in The Heart MultifamilyBiz Licking County real estate transfers for June 30-July 4 range from $200,000-$14.6 million The Newark Advocate CBRE Announces Strategic Leadership Appointments Across U.S. & Canada Advisory Business Boston Real Estate Times Bridgemarq Real Estate Services® Declares Dividend Yahoo Finance Moon Becomes Next Real Estate Frontier, NAR Reports Higher Foreign Investment In US Huntsville Business Journal Gravelle advises on current real estate market in Grant County Columbia Basin Herald GenesisM Breaks Ground on 154,000-Square-Foot Biomanufacturing Facility in Bedford, MA Boston Real Estate Times AGC MA Announces 5th Annual Building Advancement Externship to Bridge Educators with STEM Construction Careers Boston Real Estate Times Mapletree Sells Sun Belt Warehouse Portfolio to EQT Real Estate for $241M Commercial Observer What's the most expensive property sold in Rhode Island? July 18 real estate transactions The Providence Journal Operation Pawssible: Greenbrier Humane Society gets a boost from local real estate company Mountain Messenger The Pipeline: Commercial real estate roundup for 7.18.25 Richmond BizSense Home Buyers: Stop Freaking Out After the Home Inspection National Association of REALTORS® Miami-Dade’s self-storage surge a boom for real estate IslanderNews.com SRS Real Estate Negotiates $4.5 Million Sale of Walmart-Anchored Property in Metro Orlando Shopping Center Business Home Buyers May Have Accepted a New Norm on Rates National Association of REALTORS® Tips on spotting real estate investment opportunities and avoiding risks, from experts at GR Property Group Community Impact Stage Point Europe Launches Its RWA Token $SPET, Setting it up as a Bridge Between Crypto and Real Estate Morningstar Frederick Ford, real estate executive and first Black Union League Club president, dies at 98 Chicago Tribune New plans unveiled for Water Street’s second phase Tampa Bay Times LOCAL REAL ESTATE TODAY 7.18.25 KQEN News Radio Top Stocks for Real Estate Investment Elite AI Stock Forecasts - Massive wealth growth Jammu Links News July Economist Snapshot: What Will the Big Beautiful Bill Mean for Commercial Real Estate and Housing? Urban Land Magazine Hunt Companies Acquires Controlling Interest in Carter, Strengthening Real Estate Development Platform Business Wire Vend Leans Into Verticalisation As Real Estate Revenue Grows 11% In Q2 onlinemarketplaces.com Wood County Recorder reports on second quarter real estate activity BG Independent News Is Apollo Commercial Real Estate Finance Inc. a good long term investment - Explosive market performance Jammu Links News Canadian psychologist Jordan Peterson sets up shop in the Valley, records show The Business Journals Real estate sales in Jefferson, Bullitt and Oldham counties for Jan. 2-5, 2025 - The Courier-Journal Real estate sales in Jefferson, Bullitt and Oldham counties for Jan. 2-5, 2025 The Courier-Journal Choice Properties Real Estate Investment Trust 2025 Q2 - Results - Earnings Call Presentation (OTCMKTS:PPRQF) Seeking Alpha Manitowoc's real estate transfers include a sale of nearly $1 million to Riverside Dairy Herald Times Reporter Real estate transfers: Lake Township condominium complex sells for $5.61 million - Canton Repository CCI Real Estate Obtains $67M in Construction Financing for Mixed-Use Community at University of Georgia REBusinessOnline Youth Real Estate Academy in Flint abc12.com Stonelake Capital sells dozens of industrial buildings across US for $920 million The Business Journals Real estate office transforms into collection center for donations being transported to Kerr County kens5.com |
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