Landlording is not rocket science but experience and attention to detail count a great deal.
Here are five not-so-obvious tips experienced APIA landlords have to share with newbies:
Tip 1: Find your inner Ebenesa
Every landlord lives with this constant tug-o-war between our inner Ebenezer Scrooge and Mother Theresa. On the one hand, you are a property investor,
and profit matters. On the other hand, you also a person doing business with another human being and the business itself should not rob you of
your humanity. But the industry sends out mixed messages that only confuse newcomers even more. You are told to hawkishly watch every expense
because you are not a charity. But then you shouldn’t disrespect your tenant so much so that you subject them to sub-human living standards.
If you buy into all your tenant’s sob stories then you will never receive a single cent rent. Yet having the surety of long-term
tenancy incentivises you to continue communicating and negotiating with your tenants to resolve day to day issues. What are you to do? The
answer is never at the extreme ends of the spectrum. You need to find your inner Ebensa and find it fast. Make a commitment
to yourself as to what type of landlord, investor, and human being, you want to be and be consistent. Set up clear and defined rules to guide you through rent arrears, repairs and maintenance, tenant screening,
and any other day to day issues of being a landlord and stick to them.
Related article: The best piece of advice you will ever receive as a landlord
Tip 2: Be careful with your words
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