Treating Your Investment Property Like A Business

By The Makeover Guys | 27 Apr 2020

Being a property investor requires many vital decisions and constant problem-solving, just like any business. :

• you have to source finance

  
  

• make decisions on upgrades or makeovers.

  
  

• negotiating a contract with tenants

  
  

• making arrangements for property management

  
  

• monitor maintenance, interest rate increases, etc.

  
  

 Like any other business, a rental house investment requires both capital and a serious commitment of time to be successful, with tenants as your ‘customers’.

In today’s property market however, a large number of investors are often nitpicking on choosing tenants or complaining about existing ones. Although their worries may be sound, your focus as a property investor should be on problem-solving. 

Problems are bound to arise now and again.

Ask yourself frequently:

What can I do to solve this issue?
How can I avoid this problem in the future?
How do I screen my tenants better?
What can I provide for my tenant that will make their lives just a little easier? 

Do you realize that a potential tenant paying RM 3,000/month rent for 1 year is actually a RM 36,000 client?

In a regular business, RM 36000 clients would be treated with the respect they deserve, and every need would be attended to with care.

But when it comes to potential tenants, landlords offer old used furniture and often neglect providing anything more than basic necessities. 

Owners, this has to change

The 'landlord-tenant' dynamic is now old-fashioned, and owners should now treat tenants the same way they would treat respected customers.

By putting in effort to make sure your tenants are getting their money’s worth, you are naturally setting up a win-win situation: tenants are happy to pay rent, and your property will naturally command a higher rental rate.