Finding and keeping great tenants
Lim Siew May | 31 Mar 2017 00:30
Renting out property is one of the most popular ways for owners to generate passive income. With high-density residential projects mushrooming in urban areas in recent years, it pays for landlords to learn how to stand out in a sea of new and existing properties.
According to Amanda Chong, senior consultant of rental solution provider The MakeOver Guys, one of landlords’ biggest mistakes is failing to realise they are in a renters’ market, and not seeing things from tenants’ perspective when it comes to rentals and renovations.
“Many landlords think of how much cash they had put into their properties and instalments they are paying, and try to use these to justify their asking rentals. (Prospective) tenants don’t care how much you’re paying every month.
“What they care about is – if I am willing to pay RM1,900 a month for rental, what can I get from that area for (that amount)? Then they start comparing your property with others and think of what you offer. Whether your instalment is RM2,500 a month is none of their concern,” she explains.
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