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Leasing property In Singapore? Here are potential landlord challenges.

Leasing property is a daunting task. It’s all the same story in Singapore. As the landlord you have numerous responsibilities, not just receiving rental revenues come to the end of each month. With monthly income, there is a lot that needs to be done just to keep your tenants satisfied. We are here to discuss some of the challenges you will encounter as a landlord in Singapore.

Difficult tenants

Well, let’s face it humans are difficult to keep happy all the time. This is because we have different needs, character, and mannerism. Some tenants may be mice while others are down-rig cruel and unfriendly. With such diversity, it a challenge to meet everyone need no matter how much you try.
Regardless, it’s always wise not to argue with your tenants as it will turn to be a battle of them against you. In events of commotion, tenants stand to lose their deposit while you can lose your reputation which is vital in a service industry. As a landlord, you should expect to be upset by tenants who are hesitant to pay up the rent which calls for wisdom.

Becoming adult caretaker

Leasing your property means tenants can call you at any time of the day just to ask for assistance. This is their right as long as they keep paying the rent. To offload some of these pressure, you can choose to hire a property manager, otherwise called agents to manage your units. This way you can have free time and enjoy your vacation.

Cash flow issues

Usually, a landlord uses the rent to pay off mortgage loans. This cash flow will defiantly be tested. Sometimes it due to sheer ignorance but sometimes tenants run into genuine financial difficulties and as a human you have to excuse them for a couple of days. Maintenance cost form units is another expenditure that is difficult to predict. When the elevator breaks down, you have to go out of your way and fix it. To avoid running into a lot of trouble, it advisable to have an emergency fund to ensure that the wellbeing of clients is maintained.

Liability

All these responsibilities as a landlord bring across a lot of liabilities. You will be presented with problems that ant your responsibility but be obliged to solve if the form you won pocket. As stated above, some clients are stubborn, never mention that to them, and you have to solve even the slightest incidence otherwise they will negatively influence the entire unit.
It better to protect yourself from these inconveniences. How do you do that? Hire property manager. Such service means parting with a small amount of the monthly rent revenue, but you get to enjoy good relationships with the tenants, and no one will call on your vacation just to tell you their toilet blocked, or the lights can work.…

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Blog real estate agent

4 Reasons why it is Essential to Hire a Real Estate Agent

There are many online services available now that help a person to search for houses or sell houses all by themselves. You can save a lot of money this way as you won’t need to hire any real estate agent. However, if you don’t have the right knowledge, you may end up spending more than if you had a real estate agent to help you. Here are the reasons why a hiring a real estate agent is still essential.

 

Has access to comprehensive database

For a real estate agent, it’s a full-time job to look for houses. They have a comprehensive database of properties and know what new properties are available in the market for sale right away. If you are not a real estate agent, you won’t have access to so many properties.

 

Good negotiation skills

Real estate agents have good negotiation skills. They have to talk to a lot of people before settling for a deal. They talk to the buyers, appraiser, home inspector and many other people before finalizing the contract. At each step, they need to negotiate. You may not strike a good deal if you cannot negotiate well.

 

Do all the paper works

The process of buying or selling a home requires a lot of paper works. The real estate agent is an expert in handling these paper works as this is what they do every day. They know all the details and make sure that nothing is missing in the file.

 

Market knowledge

As part of their job, they have to stay updated with all the news related to the real estate industry. So, they will know the current market trend, mortgage rate, and other elements of this market. They will be able to give you good advice on buying or selling properties.

It is always better to have an expert by your side when you are into something as serious as buying or selling home. This way, there is little chance of things going wrong.…

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