Tuesday, March 17, 2015

Start Up and Grow a Property Management Business - Bad Landlords and Lies

Bad Landlords and Lies - Insider Knowledge on Property Management

This month we are introducing a series of FREE industry specific workshops at The Women’s Organisation. These will look at the specific details of setting up a business in a variety of different areas and sectors, and will feature talks from industry experts and other women who have been through the process of setting up their own business. The last in this series of workshops will be ‘Start Up and Grow a Property Management Business’

 We’ve done our research, talked to some experts and want to give you a few hints and tips in the run up to the workshop! So here we have a look at bad Landlords and the lies they tell, so you can never be in danger of saying them, or you can spot them a mile off! But if you want to find out more about running your own Property Management Business, then you’ll need to come along to the workshop on Tuesday 31st March from 1-3pm!

“We can fix that once you’ve moved in”

Make sure the house is in great condition before you show your potential tenants round! Don’t let the leaking tap or mouldy carpet be left on the to-do list. It’s best to get everything fixed that you know of before your tenants move in, sign their contracts or pay their deposits

“Don’t worry about the deposit – it doesn’t need to go in TDS”
Yes it does. A good landlord will always put their tenants deposit into a Tenancy Deposit Scheme. The tenants shouldn’t take your word for it, and you shouldn’t let them. It makes the sometimes messy nature of requesting and giving back deposits, simple, easy and protected by an external body
“Just read the contracts and sign them whilst you’re here”
It’s legal that potential tenants have 24 hours to read their contract before signing them. Give them a day to have a look through it, read all the small print and sign it in their own time. It will be much better in the long run, and any issues can be ironed out before the signing of the contract

“I’d sign now. It will be gone by the end of the day”
This sense of pressure does no good for anyone! The tenants will of course find somewhere else if the property does disappear, but adding this pressure to their decision isn’t fair or proper. If they need one day to think about it and talk to each other, it’s gracious to offer them that.
If you want to find out more insider tips and hear from experts in the Property Management business, then make sure you come down to our FREE workshop at The Women’s Organisation (54 St James Street) on Tuesday 31st March from 1-3pm. To book your spot on this course, use our Events link or email hello@thewo.org.uk

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