One of the most
important of them all is using property management platforms to do the heavy
lifting for you and help you with all your property management needs.
That’s because to
create significant wealth, investors not only need to be strategic with their
property purchases, they also need to hold for the long-term.
budgeting for maintenance
You must always
treat your investment properties and your tenants with respect.
That means always
budgeting for maintenance, because your investment property is actually your
Keeping up with
repairs and maintenance keeps your property value and keeps your tenants happy,
which means they may stay longer. Long term tenants are what every property
investor should be striving for.
You should also
always look at increasing the property value and the rent you can get for your
property. You can do this by always trying to keep the property up to date and
looking its best. Things like adding Air con or replacing carpets when needed,
painting, and landscaping, etc.
Doing one or two of
these a year will keep your property looking its best and keep your tenants
happy. Remember all these are tax deductible
Not doing this will
see your property decline in looks and value, which in turn will see less
tenants interested in renting your property.
It also means that when you do decide something needs to be done, that there is
lot more work that needs doing and the cost to you would be a lot higher. It
would also be highly likely that the property could not be rented while you
Keep tuned for your
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Tuesday, 14 July 2020