Tuesday, March 30, 2010

Back to Basics - tip7,8,9

Tip 7
Act Quickly
The longer a problem persists the more difficult it becomes to resolve. If the tenant is in arrears call immediately, the tenant’s budget might include more expenses than income - the supplier who pesters earliest and loudest usually gets paid first. The earlier a maintenance issue is resolved reduces the possibility of your tenant using this issue as a bargaining tool for non-payment.

Tip 8
Be stern but fair
Life inevitable deals complications. Your tenant’s hurdle could result in non-payment of rent. If this non-payment is a once off be reasonable, but take action. Insist the tenant signs an acknowledgement of debt and have a re-payment plan. If the non-payment of rent is an ongoing issue, cancel the lease early before the arrears have sky-rocketed.

Tip 9
Have Quality Service Providers
It is no mistake, successful people rely on quality service providers to perform specialised services. Have access to plumbers, electricians, property managers and credit bureaus that know their niche and can provide you with fast, reliable, honest work the first time round.

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