2013!!!
In the words of every magazine cover, blog and self-helping newsletter: New Year, New You? Well, let us be the first to say, hopefully not, because we quite like the “old” you.
But we shan’t go quietly into 2013. How about some resolutions? Not the impossible, annoying, guilt-ridden-when-they-don’t-quite-happen kind, the completely possible, totally probably, small-steps kind (i.e., the best kind). We have chosen five resolutions to be our spirit guides in property investment and landlording. Mind you, they are not necessarily going to get you to the upper echelons of property investment straight away but you bet your happy-new-year-ar*e that they will get you all the closer to financial freedom.
APIA 2013 Resolution #1: Get Paid On Time
Rent is the lifeblood of landlording, it is your main income source, your mother’s milk, the very reason why you play this sexy game of residential property investment. So why-oh-why would you not want to be paid on time every time?
Delinquent tenants get away with not paying rent over and over again because their landlords are not vigilant at following a rent arrears protocol. We are not saying you should be Ebenezer Scrooge about it, but at least be in a position to know exactly where you are on the rent ledger at any given time. We will say this again, property investment is a business, treat it like one. You would not be dishing out credits left right and centre if you are running a traditional business, so why would you tolerate rent arrears? Come to think of it, there are another 12 months to go before you risk a visit from...
