Diving into the rental property industry as an owner can be overwhelming, especially when you own multiple properties. Certainly, getting different properties rented out by one man is possible, but can be time consuming and inefficient. Granted that, live by these pieces of advice to help you save time and money.
Advice #1: Always screen your tenants
Finding high-quality tenants can be a tricky job, but you can increase the possibility of obtaining some by screening your potential tenants. Get to know your tenants and ask a few questions to check if you see any red flags. Once you have found a tenant who connects with you, you’ll most likely to save yourself from high turnover rates.
Advice #2: Practice good organizational skills
With multiple rental properties, you have no choice but to stay organized. Create a system that works for you – keep a record of each Thailand property and tenant. Moreover, you may organize the important documents by month, property, or tenant’s last name – find what is most efficient for you. Finally, learn to stick to this organizational system and find ways to make it better day by day.
Advice #3: Keep a good relationship with tenants
Gain the trust of your tenants to make them stay for long. Be proactive with solving maintenance issues and renovations. In fact, you shouldn’t be hesitant to invest in your rental properties because this can actually save you more bucks.
Advice #4: Hire a local agent
If you are an overseas owner, you may want to hire an agent that specialises in any Thailand property. Hiring someone with a specialty can make the process faster and more effective. Above all, local agents know the markets in the area and can refer your properties to their existing clients.
Advice #5: Sign up to AP365
Make your transactions easier by signing up to AP365! This platform connects you to local agents, and tenants who are finding rental spaces. Even more, you can manage any of your Thailand property in one dashboard.
Got a rental property which isn’t listed online yet? Sign up with us today at www.asiaproperty365.com! In AP365 you can find the right Thailand property such as office and condominium for rent in one dashboard!
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