Real Estate Investor Magazine South Africa Real Estate Investor Magazine - Dec/Jan 2018 | Page 14

FEATURE
Top Ten Tips for Expert
Property Management
How to Make the Best of Your Rental
BY DAVID BEATTIE
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Know your why. Knowing why you own property as an investment will affect how you respond
to challenges and how you persevere through them.
Your property investment is a business, so treat it like one. A professional and organised ap-
proach to property management means better, more consistent performance for your property
and a better home for your tenant.
Screening your tenants thoroughly is critical. Placing the right tenant who will pay their rent in
full and on time each month and look after your property is the foundation for property manage-
ment success.
Always do a joint move-in inspection. A written move-in inspection, done correctly and with
your tenant, will mean you have a leg to stand on if your tenant causes damage to your property.
Treat your tenant with respect. A happy tenant is a better-performing tenant.
Stick to the rules. Be consistent in holding the tenant to what they agreed to in the lease agree-
ment. Keep your side of the bargain too.
Put everything in writing. Arguing about who said what creates problems. Written agreements
and written communication keep things simple and reliable.
Maintain your property properly. Be proactive in looking after your property. This will mean
better growth in your asset over time, and will attract better-quality tenants.
Be consistent. Property management is about doing the simple things consistently month after
month.
Always keep learning. Having a learning attitude will mean you’ll constantly get better at being
a property manager, and you’ll stay up to date with changes in the market and legislation.
DECEMBER 2017/JANUARY 2018 SA Real Estate Investor Magazine