Challenges Associated with Managing Your Own Property in Ghana
- Managing your own buildings in Ghana as a landlord comes with its own problems which cannot be overlooked
- For those who can afford property managers, this lightens the burden for them and gives them some sense of relief
- If one intends to give out their houses for rent some time in the future, it is important that they know what they are getting themselves into
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A lot of landlords in the country prefer to manage their own rental properties than seek the services of property managers as is common in other parts of the world. This is in their bid to minimise cost.
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Landlords may be saving on money but losing out on other important things. YEN.com.gh has outlined some of the things house owners should take note of before deciding to manage their rental apartments themselves.
Tenants Expect Attention 24/7
Tenants want landlords to be at their beck and call even at odd hours. When there is a problem at midnight, some tenants will expect their landlords to come and attend to the situation. As such, property owners should expect their phones to be ringing all the time.
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Tenant Selection Problems
It is a hectic procedure to screen all potential tenants and select those who are preferred. When the services of property managers are employed, they take the pain of doing the screening, background checks and selection of tenants on behalf of the landlord.
Handling Everything On Your Own
House owners should expect to handle everything on their own. This includes photographing and marketing their apartments on online platforms. Also, when your apartments sit on the market for a long time, they will be tempted to reduce the price.
Managing Multiple Properties
Handling one rental property is no mean task, now imagine handling two, three or four. Your phone will be buzzing with calls all day every day. This also means you cannot be unavailable for long periods of time since your tenants may be requiring your services.
If landlords do not take care, they may lose track of tenants who have paid certain bills and those who have not.
4 Things That Can Significantly Increase the Value of Your Home
In an earlier article, YEN.com.gh wrote about how to increase the value of your home. It is important that your house reflects the current demands of the market.
This will make your home more appealing and also attract buyers for your property in no time.
Source: YEN.com.gh
