Property Investors Need to Keep Up With Their Tenants!!

| Posted: 18-10-2007 | Comments: 0 | Views: 7 | Rating: (50)

(?)

In today’s information age anyone can find anything they ever want on the Internet. There is no lack of information, by FAR, there is excess more often than not. In today’s world mothers arrive at the doctors rooms with 50 pages of data, printed from the internet, of what can be wrong with their child. There only reason for a visit to the doctor is to confirmation what they think they already know is wrong. This may not be such a good practice, but it is no joke. From doctors to property investors and tenants, anyone can find out anything about everything. For landlords this means that tenants today also have information at their fingertips and property investors must take heed to that, or else!

To give you a simple example, in today’s world we get inquiries for rental flats in the Johannesburg CBD by potential tenants who are sitting in Internet cafés. How is that for access to information? Pretty cool. Though this is great, and businesses run easier and faster by the day, knowledge also travels at the speed of the Internet, which at a minimum is at the speed of a 56K modem. Still pretty fast when you consider the information gather techniques of yester year.

Now imagine a tenant that is upset with a Landlord. The tenant visits the internet café to learn more about tenants rights, then researches and comes to the conclusion that his rights are being abused or that the landlord is behaving unlawfully. What then? Well then the tenants can take action for free, through the Housing Tribunal and lay a complaint. The the landlord must then deal with the consequences. Not a comforting thought for many landlords.

Often, we find that property investors and proud landlords are mainly focused on their jobs and professions. They are smart and professional people, but when it comes to property, it is not their profession. Such landlords count on agents, or other sources that seem reliable, and hope they are do the right thing. To them, it takes far too much time to research all the laws and governing municipal rules and regulations, court cases and so forth. But the unhappy tenant easily takes a few hours after, or at work, to do just that; research. The tenant is motivated to find a solution to the problem that seems to make them unhappy, whatever that may be.

The property investor on the other hand, often has no clue of what is going on, or even if he or she does, they have more pressing issues to deal with, such as their day job or businesses, or they just heed to the many so called “gurus” and motivational speakers that emphasize how property investing doesn’t need to be a “hands on business”. Though this is very true, for such a business to be “hands off” there must firstly be a set of processes and procedures to follow. Correct legal documents and good agents have to be put in place for things to run smoothly – and that by itself takes time and effort. The notion that property investment can be a case of “buy-rent-and-forget” past-time doesn’t exactly work in the real world, or at least not without some major risks.

So, the property investor leaves the matters be, or leaves it to the agent, until such time as, out of the blue, they end up with a major problem to solve. By this time it is too late to fix the problem quickly, cost effectively and easily.

Property investors need to take heed to what is going on. They need to ensure that they are fully conversant in matters pertaining to renting and the rights of their tenants. They need to pay as much attention to such matters as the do when it comes to finding best practices on reducing the management associated with their properties.

Whether you are buying, selling or renting property, it is a peoples business. No software package can offer a golden formula and financial spreadsheets do not take into consideration the human factors of the business. As access to information increases and tenants become better informed, landlords must keep pace and strive to gain the knowledge and expertise required in order to manage both the legal and social aspects of the buy-to-let business. Investing in such skills could be the best investment they ever made.

Rate this Article:

Current: 0 / 5 stars - 0 vote(s).

Article Tags: Real Estate, Property, Investing, South Africa

Article Source: http://www.articlesbase.com/real-estate-articles/property-investors-need-to-keep-up-with-their-tenants-240226.html

Print article

Send to friend

Publish this Article

Author feedback

About the Author:

Sean is a property investor and estate agent in Johannesburg South Africa. He is the founder of Property Investor Network a community knowledge portal. He also owns several other property related businesses and associated websites, including REPOSSESSION-STOPPER a service front-end for people wanting to avoid repossession.

Submitting articles has become one of the most popular means of generating quality backlinks and targeted traffic to your website. Join us today - It's Free!

Article Comments

Add new Comment

The Basics Of Investing In Real Estate
By: Edwin John | 22/06/2007 | Real Estate

How Does the American Property Market Influence South Africa
By: Sean Wheller | 18/10/2007 | Real Estate

Don't Unknowingly Take on Unnecessarily Liability
By: Sean Wheller | 18/10/2007 | Real Estate

Unfortunately, I Have Some Bad News for you
By: Sean Wheller | 18/10/2007 | Real Estate

The Impact of the Nca on Real Estate Agents
By: Karen Wheller | 18/10/2007 | Real Estate

How Can Some Property Investors Profit From the Nca and is it Morally Right to Do So??
By: Sean Wheller | 18/10/2007 | Real Estate

Is the Nca Contributing to a Better Rental Market?
By: Sean Wheller | 18/10/2007 | Real Estate

Is the Nca Going to Bring the Country to Its Knees?
By: Sean Wheller | 18/10/2007 | Real Estate

Got a Question? Ask.

Ask the community a question about this article:

Frequently Asked Questions

If you are a registered voter you don't have to ...
By: Donna Griffin | 01-10-2008
If you are a registered voter you don't have to vote at your assigned voting poll. All you have to do is prove you have the right to vote and sign this form and you should be allowed to vote at any poll. Is this correct?

I would like a picture or the estimated value of a ...
By: jeff kantner | 30-09-2008
i would like a picture or the estimated value of a property...101 maple place,cranford,n.j. 07016

Mantri Astra Project All Details?
By: Mr kr | 30-09-2008
Mantri Astra Project All Details?

Tulip Perla New Project Location and Booking ...
By: Mr kr | 30-09-2008
Tulip Perla New Project Location and Booking Details?

Contracts for repairs
By: Stonersmith | 29-09-2008
Real estate licensee who works for an ownerand who contracts for repairs totaling more than 5 thousand Must get building permit ?? Must hold broker florida license>> must get written permission from owner >> Must have a contractors license or employ a contractor >>

Albert Schoenberg - bio. (wife's name & children)
By: cetan434 | 29-09-2008
Albert Schoenberg - bio. (wife's name & children)

Q&A Powered by:

Latest Real Estate Articles

Buying A Ranch Property
By: Martin Webbster | 15/10/2008
Buying a ranch is something you may want to consider if you plan to retire in the west or just want to move away from city life to enjoy rustic rural life. Whatever the reason, a ranch is one of the best ways to enjoy the west. As a ranch owner,...

Investing In A Ranch
By: Martin Webbster | 15/10/2008
You have heard severally about the term ranches and would like to know what they actually are. Well, ranches are a piece of rural land that that promises lots of benefits and incentives for the owner. You can build a ranch for yourself or buy one. Either way you will...

A Checklist For Acquiring A Waterfront Property
By: Martin Webbster | 15/10/2008
The real estate industry has been a profitable industry and much so these days. The market is experiencing a boom today and many investors have therefore been on the search for a lucrative sector of the industry to invest in. Many homeowners especially the smart ones are now diversifying their...

Important Things You Should Know Before Buying Rural Real Estate
By: Martin Webbster | 15/10/2008
Rural real estate holds a lot of attractions for the investor. Interest in this type of property has risen of late and many buyers have now become eager to get apiece of once disregarded area. This surge in interest has introduced a lot of dynamics into the countryside property market. Many...

Why is Cyprus Such a Great Investment Opportunity?
By: Hannah Walker | 15/10/2008
The wheels of reconciliation have been set in motion as determined peace talks begun at the beginning of September '08 to once more attempt a reunification between the north and south of Cyprus. Since the Turkish invasion in 1974, Cyprus has remained divided and dominated by hostility. Now, despite the...

Cyprus: A Backdrop to Your Investment
By: Hannah Walker | 15/10/2008
With the recent peace talks underway and reunification on the horizon, even more people will be encouraged to invest in Cyprus, the largest island in the Mediterranean, situated south of Turkey and East of Greece. The Cyprian economy is set to soar after peace is made between the northern Turkish...

Lease Commercial Property London
By: Matt Grimes | 15/10/2008
Leasing commercial property in London is a whole different ball game from leasing commercial property in other areas of the United Kingdom.

Why Buying Smaller is Better
By: Keith Cook | 15/10/2008
However, the fact remains that many of these foreclosures come from people taking out huge adjustable mortgages on huge homes with an inadequate income to deal with the interest. Once the interest rates changed, those people could not hope to afford the payments. It could all have been avoided with the purchase of a more modest home and a fixed-rate mortgage.

More from Sean Wheller

Can’t Pay the Mortgage? This is How you Can Save your Property and Avoid Repossession
By: Sean Wheller | 17/11/2007 | Real Estate
It is sad see that there are many property investors and home owners that can’t pay their bonds due to the recent interest rate increases. To add to the trauma, many have refinanced properties to the extent that getting a quick sale in the open market is close to impossible as there is no equity left to make the deal attractive to another investor. Here are some options, where to go next to save your properties or home.

Is the Nca Going to Bring the Country to Its Knees?
By: Sean Wheller | 18/10/2007 | Real Estate
It has been a whole month and a half since the NCA has taken its’ full force and affect and the horror stories are starting to pour in. I think that the whole picture of the NCA is not fully clear yet, but the effects have started to take shape.

Is the Nca Contributing to a Better Rental Market?
By: Sean Wheller | 18/10/2007 | Real Estate
As a result of increases in interest Rates and changes enforced by the New National Credit Act, many are predicting that the rental market is about to blossom for buy-to-let investors. The reasoning for these predictions is logical, increased interest rates combined with lower Bond qualifying amounts for property buyers will temporarily forced many people to rent. How true is this prediction?

How Can Some Property Investors Profit From the Nca and is it Morally Right to Do So??
By: Sean Wheller | 18/10/2007 | Real Estate
The country is starting to face the repercussions of the new credit act. Lending is getting tighter and everyone's affordability has been dealt a double blow with increased interest Rates. Many people are not so happy about the new set of circumstances they find themselves in. For many property investors, months of long strategic planning seems to have been for nothing. As most investors go back to the drawing Board, we ask, “Can one profit from such events?”

Unfortunately, I Have Some Bad News for you
By: Sean Wheller | 18/10/2007 | Real Estate
By the day tenants are gaining unfair advantage! "How long did you think you would get away with it?" "I don’t know what you are talking about….” This is a quote from a conversation that was relaid to me. It took place between a property investor and his tenant.

Don't Unknowingly Take on Unnecessarily Liability
By: Sean Wheller | 18/10/2007 | Real Estate
When it comes to letting, it's amazing how many property investors unknowingly take on obligations without ever knowing that they have done so. It happens in away that is so accidental, so transparent that in many cases tenants come and tenants go without either party ever knowing that this was the case.

Increase your Profits With Prepaid Electricity Metering
By: Sean Wheller | 18/10/2007 | Real Estate
Metering of electricity with secondary prepaid electricity meters is an excellent way for property investors, landlords and letting agents to avoid the risk of having to pay electricity utility bills, when tenants don't pay. However, feedback from the field shows that prepaid electricity meters also have other benefits. Customers who have installed prepaid electricity meters, in their rental units, are telling PrepaidMeters.co.za that one of the interesting benefits of using prepaid meters is t

How Does the American Property Market Influence South Africa
By: Sean Wheller | 18/10/2007 | Real Estate
Recent property media has been abuzz with news of the real estate down turn occurring in the United States. With all the media sources available today you can’t possibly avoid hearing about the doom and gloom of the US Property market, not unless you live under a rock, in which case it won’t affect you anyway. News travels fast and stories of the downturn in US real estate markets is quick to hot South African shores where people are now, as a result of the phenomenal property boom experienced i

Article Categories

Article Marketing

Article Notepad

Stop Duplicate Content

Term Papers

Need Help?

Sign up for our email newsletter

Receive updates, enter your email below

Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License.
Copyright © 2005-2008 Free Articles by ArticlesBase.com, All rights reserved. (0.34, 17)

Property Investors Need to Keep Up With Their Tenants!!

Article Comments

Related Articles

Got a Question? Ask.

Latest Real Estate Articles

More from Sean Wheller

Need Help?

Site Links

Webmasters

Business Info

Sign up for our email newsletter