There is a lot to be said for the spirit of entrepreneurship. You want to start your own business, stand on your own two feet, and reap the rewards that come with a successful venture.
But if that business involves being a landlord, there are a number of pitfalls which could not only stifle your best intentions, but even end up costing you cash.
These days, it’s not quite as simple as just advertising your property, getting someone in, and sitting back and watching the money flow in.
First off, there is the time factor. Finding the right tenant takes time as you to screen a number of candidates, do suitable background checks, and set up relevant and binding legal contracts that will protect both parties should any problems arise.
Maintaining the property and responding to every minor and major request, from a leaky roof to an insect infestation, becomes not only time consuming, but also draining. Now imagine you don’t live close to the property, or actually have a day job!
Then there are those unfortunate and unenviable situations where a tenant is refuses to pay his or her rent, upsets the neighbours or causes damage to your property, and you have to serve an eviction notice.
If your contract was not set up perfectly from the start, it could become a massive and prolonged headache. The law often seems to favour the tenant and an excuse of ignorance does not sit well with judges, and again you could end up being the one paying, rather than the other way around.
So how do you circumvent all these potential pitfalls? It’s simple … hire a property management company like Lalapanzi.
Lalapanzi specialises in dealing with all the above-mentioned issues, and then some.
We start with the advertising of your property, screening potential tenants, drawing up the rental agreement, staying up to date with the latest compliance services and legislation, maintaining your property and dealing with tenants, collecting the rent, and taking care of any contractual issues that may arise, including eviction.
Most importantly, a good property management company like Lalapanzi will save you time and give you complete peace of mind that your hard-earned investment is well looked after and actually making money, rather than costing you!
To find out more about how Lalapanzi can help you protect your most valuable assets, contact us today on 0148 063 8766.