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Looking For A Tenant? Common Mistakes Landlords Make

Looking For A Tenant? Common Mistakes Landlords Make

Looking For A Tenant? Common Mistakes Landlords Make
(Dreamstime)

You did everything you could to do up your house. From getting it whitewashed to adorning your house with some nice furniture pieces. You checked each fitting and every switch to see if these were in working order. However, you still have not been able to find a tenant who is willing to pay you your property's worth. Your property agent is as baffled as you. What we all fail to realise is that like all other things, the decision to buy or rent a house, too, is decided by many subtle factors.

Here is what you might be doing wrong:

Your house will speak for itself

Our love for our home is more emotional than logical; it is like our love for our family or friends. However, don't you get bored when your neighbour rants about the many achievements of his children? The same logic applies to you as a landlord. It is for the tenant to realise how grand the house is; you don't have to insist on that fact. Let the house and all its beauty do the talking. They might do a better job than you are doing.

Choice matters

Red could be your favourite colour while the person willing to pay the money you are asking may like lighter shades. You may love your leather seven-seater, others will find it tacky. You may not realise but this little detail may turn a deal breaker. Your tenant will judge his compatibility with you based on your choice of home décor and furnishings.

 The pride and the prejudice

Aren't you the proud owner of two properties and don't you let all your prospective tenants know this? In your eagerness to boast of your great achievements, you do miss the point that your city is full of great achievers, who might be offering similar properties on rent on lower prices. Trying to get an upper hand because you happen to own the property may not be a good idea. You need a tenant to ensure your property is paying you a handsome return on investment. And a good point to start with is the thought that a tenant's need for a landlord is in no way more pressing than the landlord's need for a tenant. 

You did everything you could to do up your house. From getting it whitewashed to adorning your house with some nice furniture pieces. You checked each fitting and every switch to see if these were in working order. However, you still have not been able to find a tenant who is willing to pay you your property's worth. Your property agent is as baffled as you. What we all fail to realise is that like all other things, the decision to buy or rent a house, too, is decided by many subtle factors.

Last Updated: Wed Nov 02 2016

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