Sunday Times Books LIVE Community Sign up

Login to Sunday Times Books LIVE

Forgotten password?

Forgotten your password?

Enter your username or email address and we'll send you reset instructions

Sunday Times Books LIVE

Jonathan Ball

@ Sunday Times Books LIVE

“Put everything in writing” and nine other hot tips for property management from David Beattie

You have a residential investment property. Perhaps you are already renting it out. But are you doing it like a pro and do you know how to maximise your return from it? In this book, property management expert David Beattie distils two decades of experience into easy-to-implement steps and shows you how to manage your property like a professional landlord. His goal is to help you make more money in less time and with fewer hassles, by showing you how to run your property investment like a business; navigate and comply with South African rental laws with ease; attract, screen, place and keep high-quality tenants; ensure successful and consistent rent collection; and maintain your property with the least effort and money. The book also includes templates for all the documents the prospective landlord needs.

DAVID BEATTIE is a well-known property expert in South Africa. He is the founder and director of Chorus Letting, a leading residential property rental agency managing 2000 properties across Cape Town and Johannesburg. More recently, David has turned his attention to the growing market of private landlords. He is also the founder of PocketLet, a tool for private landlords to effectively manage their own properties.

My Top Ten Tips for Expert Property Management

Residential property management is perceived to be a road filled with potholes. But it can be actually quite simple in practice. If you arm yourself with the right skills and tools and team there is no reason why you can’t succeed in managing your own property well.

There are loads of books, websites and experts who can assist you every step along the way. Once you have pushed through the initial lack of confidence and uncertainty barrier, you’ll be confident to make your own way.

To help you start on your property management journey, I have put together my top 10 tips for property management success. These principles will be your beacons along the path, and will act as a solid framework in which to operate.

1. Know your why. Knowing why you own property as an investment will affect how you respond to challenges and how you persevere through them.

2. Your property investment is a business, so treat it like one. A professional and organised approach to property management means better, more consistent performance for your property and a better home for your tenant.

3. Screening your tenants thoroughly is critical. Placing the right tenant who will pay their rent in full and on time each month and look after your property is the foundation for property management success.

4. Always do a joint move-in inspection. A written move-in inspection, done correctly and with your tenant, will mean you have a leg to stand on if your tenant causes damage to your property.

5. Treat your tenant with respect. A happy tenant is a better-performing tenant.

6. Stick to the rules. Be consistent in holding the tenant to what they agreed to in the lease agreement. Keep your side of the bargain too.

7. Put everything in writing. Arguing about who said what creates problems. Written agreements and written communication keep things simple and reliable.

8. Maintain your property properly. Be proactive in looking after your property. This will mean better growth in your asset over time, and will attract better-quality tenants.

9. Be consistent. Property management is about doing the simple things consistently month after month.

10. Always keep learning. Having a learning attitude will mean you’ll constantly get better at being a property manager, and you’ll stay up to date with changes in the market and legislation.

Book details

 
Also available as an eBook.

 

Please register or log in to comment