Everyone knows that real estate, especially rental property, is a business with much potential. For starters, properties rarely depreciate, and people are constantly demanding for more and more housing, all the more when you are in an urban area. But at the same time, just like any other trade, it is also a known fact that it is more than just merely buying properties up and rent them out; no matter how much money you have, plunging into the market and competition without any knowledge and preparation is akin to courting failure!
Finding good housemates that you can live with harmoniously is never easy, but if you can ever find some, it would certainly be advantageous, convenient, and even fun to live together under the same roof.
So, you don’t get along well with your tenant. Well, that is actually not big news. Most landlords have or will encounter situations in which they do not get along well with their tenants. The question is: while some tenants are really terrible and unreasonable, is there still a way to mend your relationship with them – or when nothing else works, to take a firmer stand so that things can work out better?
Getting a good tenant can guarantee you a steady stream of passive income. However, despite the landlord’s responsibility to treat tenants with all the respect they deserve, there will always be some who would give more trouble and headaches than their rental’s worth.
Living alone in a big city like Kuala Lumpur is sometimes more challenging than anyone can imagine. Most young people are unable to afford renting a whole house by themselves and will choose to share a house or apartment with others. If you are one of those who are sharing a house with other housemates or roommates, you’re bound to face some issues eventually.
Well, there is this humorous saying that buying a home is unlike buying some vegetables from the wet market. To first time home buyers, it’s a major decision to make in life, and an important learning process. To property investors, making a sound decision ensures easy management (including renting out and fetching good rental) of the property, and of course most importantly, profit making when he/she sells off the property in the future.
Establishing a good relationship with your tenants can be very rewarding. As a landlord, are you aware of the issues faced by your tenants, such as maintenance, safety etc? While the landlord can do everything to satisfy the needs of their tenants, remember that MUTUAL RESPECT goes a long way to maintain a healthy and happy landlord-tenant relationship. Below are a few things that should be taken into consideration when managing the relationship with your tenants.
The majority of landlords have at least a few experiences of their tenants not paying the rents promptly. Pursuing legal action is not the only solution. Getting your tenants to pay up in fact, involve taking step by step actions, instead of just a drastic one. This, no doubt, will help them to see you as a consistent and serious landlord who follows the legal procedure.
Going through all the hassle to do a background check on your potential tenant can really pay off. We know there are always some tenants out there who are not trustworthy, and dealing with them can give you, the landlord a really hard time.