5 Property management tips for 2016

1,553 Comments

Top 5 Property Investment Management Tips for 2016

There’s an age old saying “spend money to make money” and in our decade old experience, we can swear by it. While it is important to spend funds wisely, but to invest efficiently and avoid costly mistakes down the road, we bring to you Top 5 Property Investment Management Tips for 2016

Know the market dynamics, where you are investing

One of the most important decisions that you will ever make is that of investing in real estate, solely because of the capital growth that an investment of this nature offers. Besides the price at which you are acquiring a property, it is critical to also understand other dynamics that come into play like the area. It is wise to do as much research as possible, for example speak to locals, shopkeepers and know how the area is, what are the developmental plans, which part of the area is better than the other? A good trick to get inside information is to speak to competing agents about similar properties in the same location. While these are good methods, it is also advisable to seek professional services in these matter and also do independent research about property values, rents etc. which are easily available across so many portals now.

Understand the condition of the property and the facilities available

When making a decision to acquire a property, it is advisable to do a thorough check of the prospect property and look for defects like damaged wall, woodwork, cabling and leaking pipes etc. Identifying these will make a significant impact to the profits or put a dent in the cash flow.

It is also not prudent to buy a property which is in a perfect condition, because that would mean higher cash outflow. While you can get a higher value from a property in not so good condition by sprucing it up a bit, which will increase the capital growth as well as command a higher rental.

Make the property attractive

We all like good things around us. So if you are planning to put your investment property on rent,  and then the suggestion would be to keep the property in good condition. One thing that attracts good tenants is well kept properties. It is advisable to remember that when the time arises to sell, then the decisions are also usually made basis if the property was owner occupied vs tenant occupied, because buying property is an emotional purchase than a logical one.

Manage risks from a long term perspective

Unlike traditional methods of investing like shares, gold etc., investment in property is usually a long term investment. One should not invest for the sake of instant profits. The longer one can hold on to a property, the better it is. The idea is to strike a balance between financial stability and enjoying a good life and not become stagnant.

A key thing to remember is that you cannot sell your investment property instantaneously if the need arises. The market works on the dynamics of supply and demand and it may take months to sell a property, so you should be mentally and financially prepared.

Hire a professional Property Investment Management firm

Times have changed. We have come a long way from relying on the services of a local property dealer to hiring professional services. A managed services firm comes with unmatched years of experience working with different markets and types of properties. They are the ears and eyes of the market and help making logical decisions based on market reports, analytics and get the best value for your property. A property management firm can also take care of maintenance issues, finding the right tenant with checks, besides having expertise about legal issues in case a need arises.

“MyFollo” is an online real estate ecosystem bringing in change in the way online advisory and transactions are executed. Write to us at contact@myfollo.com  to know how we can help you.

1,553 thoughts on “5 Property management tips for 2016”

  1. I really like your tip to make the property attractive. I think if you put effort into keeping it looking nice the tenants will feel motivated to take care of things too. It also makes it easier when the time comes to sell if you are up to date with maintenance and don’t have to make a lot of repairs. Thanks for these great tips!

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  1305. Hey just wanted to give you a quick heads up. The words in your article seem to be running off the screen in Internet explorer. I’m not sure if this is a formatting issue or something to do with web browser compatibility but I figured I’d post to let you know. The style and design look great though! Hope you get the issue resolved soon. Cheers

  1306. Thanks for the helpful posting. It is also my belief that mesothelioma cancer has an incredibly long latency phase, which means that warning signs of the disease won’t emerge until eventually 30 to 50 years after the initial exposure to asbestos. Pleural mesothelioma, that’s the most common style and affects the area across the lungs, could potentially cause shortness of breath, torso pains, and also a persistent coughing, which may bring about coughing up bloodstream.

  1312. That is very attention-grabbing, You’re a very skilled blogger. I have joined your feed and sit up for in quest of extra of your excellent post. Also, I’ve shared your website in my social networks!

  1314. I have learned a number of important things through your post. I’d personally also like to convey that there may be a situation that you will apply for a loan and never need a co-signer such as a Federal Student Aid Loan. But if you are getting a loan through a standard loan company then you need to be prepared to have a co-signer ready to assist you. The lenders will base their very own decision over a few issues but the greatest will be your credit worthiness. There are some financial institutions that will in addition look at your work history and make up your mind based on that but in many cases it will depend on your scores.

  1320. Via my examination, shopping for consumer electronics online can for sure be expensive, however there are some how-to’s that you can use to help you get the best bargains. There are usually ways to find discount deals that could help make one to possess the best electronics products at the cheapest prices. Good blog post.

  1321. I have observed that online education is getting favorite because attaining your college degree online has changed into a popular solution for many people. A lot of people have never had an opportunity to attend a normal college or university nonetheless seek the elevated earning potential and career advancement that a Bachelors Degree gives you. Still people might have a degree in one discipline but want to pursue something they now develop an interest in.

  1322. Heya i am for the primary time here. I came across this board and I find It really helpful & it helped me out a lot. I’m hoping to present something again and help others like you aided me.

  1326. There are some fascinating deadlines on this article but I don?t know if I see all of them center to heart. There may be some validity however I will take hold opinion until I look into it further. Good article , thanks and we wish extra! Added to FeedBurner as effectively

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  1330. The following time I read a blog, I hope that it doesnt disappoint me as much as this one. I imply, I do know it was my choice to learn, however I really thought youd have one thing interesting to say. All I hear is a bunch of whining about one thing that you might fix in case you werent too busy on the lookout for attention.

  1338. One more thing I would like to talk about is that rather than trying to accommodate all your online degree programs on days of the week that you complete work (since most people are drained when they get back), try to have most of your lessons on the saturdays and sundays and only a couple of courses in weekdays, even if it means a little time away from your end of the week. This is fantastic because on the week-ends, you will be much more rested in addition to concentrated upon school work. Thanks alot : ) for the different tips I have learned from your weblog.

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  1344. I have really learned new things from a blog post. One other thing to I have seen is that normally, FSBO sellers will probably reject you actually. Remember, they will prefer not to use your services. But if a person maintain a gentle, professional relationship, offering assistance and being in contact for about four to five weeks, you will usually have the capacity to win a meeting. From there, a listing follows. Cheers

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  1366. Today, considering the fast chosen lifestyle that everyone is having, credit cards have a huge demand throughout the market. Persons coming from every area are using the credit card and people who not using the card have made arrangements to apply for just one. Thanks for giving your ideas on credit cards.

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  1373. Write more, thats all I have to say. Literally, it seems as though you relied on the video to make your point. You obviously know what youre talking about, why throw away your intelligence on just posting videos to your site when you could be giving us something informative to read?

  1374. Hey very nice website!! Man .. Excellent .. Amazing .. I’ll bookmark your website and take the feeds also?I am happy to find numerous useful info here in the post, we need work out more strategies in this regard, thanks for sharing. . . . . .

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  1394. I do not even understand how I finished up right here, but I thought this publish was once great. I don’t understand who you might be however definitely you’re going to a famous blogger in case you aren’t already 😉 Cheers!

  1396. Thanks for making me to obtain new concepts about personal computers. I also have the belief that certain of the best ways to maintain your mobile computer in best condition is to use a hard plastic material case, or shell, that matches over the top of one’s computer. A lot of these protective gear tend to be model specific since they are manufactured to fit perfectly across the natural casing. You can buy them directly from the seller, or via third party places if they are available for your notebook, however not all laptop can have a cover on the market. Once again, thanks for your tips.

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  1398. This is without a doubt one of the best articles I’ve read on this topic! The author’s thorough knowledge and enthusiasm for the subject are apparent in every paragraph. I’m so thankful for coming across this piece as it has deepened my comprehension and ignited my curiosity even further. Thank you, author, for investing the time to create such a outstanding article!

  1400. One thing I’d like to comment on is that fat reduction plan fast can be carried out by the perfect diet and exercise. Someone’s size not merely affects appearance, but also the quality of life. Self-esteem, melancholy, health risks, in addition to physical capabilities are disturbed in fat gain. It is possible to just make everything right and still gain. Should this happen, a medical problem may be the offender. While too much food but not enough exercise are usually accountable, common medical conditions and key prescriptions can easily greatly increase size. Thanks for your post in this article.

  1405. Great blog here! Also your web site loads up very fast! What web host are you using? Can I get your affiliate link to your host? I wish my site loaded up as fast as yours lol

  1406. Thank you, I’ve recently been searching for information about this subject for ages and yours is the greatest I’ve came upon so far. However, what concerning the conclusion? Are you sure concerning the supply?

  1407. Hello, i think that i saw you visited my web site so i came to ?return the favor?.I am attempting to find things to improve my website!I suppose its ok to use a few of your ideas!!

  1408. There are certainly loads of particulars like that to take into consideration. That could be a nice point to bring up. I offer the thoughts above as general inspiration however clearly there are questions like the one you deliver up the place the most important factor might be working in honest good faith. I don?t know if greatest practices have emerged round things like that, but I’m positive that your job is clearly recognized as a good game. Each boys and girls feel the influence of only a second?s pleasure, for the remainder of their lives.

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  1410. excellent post, very informative. I ponder why the opposite experts of this sector don’t notice this. You must proceed your writing. I am confident, you have a huge readers’ base already!

  1412. Hi this is kind of of off topic but I was wondering if blogs use WYSIWYG editors or if you have to manually code with HTML. I’m starting a blog soon but have no coding experience so I wanted to get advice from someone with experience. Any help would be enormously appreciated!

  1415. Amazing! This blog looks exactly like my old one! It’s on a entirely different topic but it has pretty much the same page layout and design. Great choice of colors!

  1420. Hey! I just wanted to ask if you ever have any trouble with hackers? My last blog (wordpress) was hacked and I ended up losing several weeks of hard work due to no back up. Do you have any solutions to prevent hackers?

  1421. Write more, thats all I have to say. Literally, it seems as though you relied on the video to make your point. You obviously know what youre talking about, why throw away your intelligence on just posting videos to your site when you could be giving us something enlightening to read?

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  1432. After I initially commented I clicked the -Notify me when new feedback are added- checkbox and now every time a remark is added I get four emails with the same comment. Is there any approach you possibly can remove me from that service? Thanks!

  1433. One thing I’d really like to say is the fact that car insurance termination is a horrible experience and if you’re doing the best things being a driver you won’t get one. A number of people do get the notice that they’ve been officially dumped by the insurance company and several have to fight to get further insurance after the cancellation. Inexpensive auto insurance rates tend to be hard to get after having a cancellation. Having the main reasons for auto insurance cancellation can help people prevent sacrificing one of the most important privileges readily available. Thanks for the thoughts shared by means of your blog.

  1434. Do you have a spam problem on this website; I also am a blogger, and I was wanting to know your situation; we have developed some nice methods and we are looking to trade strategies with other folks, why not shoot me an email if interested.

  1435. I have been surfing online more than 3 hours today, yet I never found any interesting article like yours. It is pretty worth enough for me. In my view, if all webmasters and bloggers made good content as you did, the web will be much more useful than ever before.

  1437. One more thing. I do believe that there are lots of travel insurance websites of trustworthy companies that allow you enter your vacation details to get you the rates. You can also purchase this international travel insurance policy on-line by using your own credit card. All you should do is to enter your own travel information and you can view the plans side-by-side. You only need to find the plan that suits your financial budget and needs after which use your bank credit card to buy that. Travel insurance on the internet is a good way to start looking for a respected company regarding international holiday insurance. Thanks for sharing your ideas.

  1438. Hello, Neat post. There’s a problem along with your web site in internet explorer, could check this? IE nonetheless is the market chief and a good portion of people will leave out your fantastic writing due to this problem.

  1439. Great blog post. The things i would like to bring about is that computer system memory must be purchased when your computer is unable to cope with anything you do along with it. One can deploy two random access memory boards with 1GB each, in particular, but not one of 1GB and one having 2GB. One should look for the car maker’s documentation for the PC to be certain what type of memory space is necessary.

  1444. It?s actually a nice and useful piece of information. I?m happy that you just shared this useful information with us. Please stay us informed like this. Thank you for sharing.

  1445. I also believe that mesothelioma is a scarce form of cancer that is typically found in these previously familiar with asbestos. Cancerous cells form while in the mesothelium, which is a safety lining that covers many of the body’s bodily organs. These cells normally form within the lining with the lungs, stomach, or the sac which encircles the heart. Thanks for discussing your ideas.

  1448. I haven?t checked in here for a while because I thought it was getting boring, but the last few posts are great quality so I guess I will add you back to my everyday bloglist. You deserve it my friend 🙂

  1450. Thanks for your beneficial post. Through the years, I have been able to understand that the symptoms of mesothelioma cancer are caused by your build up connected fluid regarding the lining in the lung and the chest muscles cavity. The illness may start from the chest location and pass on to other body parts. Other symptoms of pleural mesothelioma include weight-loss, severe inhaling trouble, throwing up, difficulty taking in food, and inflammation of the neck and face areas. It needs to be noted that some people having the disease usually do not experience every serious signs or symptoms at all.

  1453. What an insightful and well-researched article! The author’s thoroughness and ability to present complex ideas in a digestible manner is truly commendable. I’m extremely enthralled by the scope of knowledge showcased in this piece. Thank you, author, for offering your knowledge with us. This article has been a real game-changer!

  1454. I’m in awe of the author’s capability to make complicated concepts approachable to readers of all backgrounds. This article is a testament to her expertise and passion to providing valuable insights. Thank you, author, for creating such an captivating and illuminating piece. It has been an unforgettable experience to read!

  1457. hello!,I like your writing very much! share we communicate more about your article on AOL? I need a specialist on this area to solve my problem. May be that’s you! Looking forward to see you.

  1458. My developer is trying to persuade me to move to .net from PHP. I have always disliked the idea because of the costs. But he’s tryiong none the less. I’ve been using WordPress on various websites for about a year and am anxious about switching to another platform. I have heard great things about blogengine.net. Is there a way I can transfer all my wordpress content into it? Any help would be greatly appreciated!

  1464. Thanks for your post. I would also like to say that a health insurance brokerage service also works best for the benefit of the particular coordinators of a group insurance cover. The health insurance professional is given a summary of benefits looked for by a person or a group coordinator. What a broker will is try to find individuals as well as coordinators which best complement those demands. Then he offers his tips and if both parties agree, the particular broker formulates a contract between the 2 parties.

  1471. Thanks for your article. I would also like to say this that the first thing you will need to perform is find out if you really need credit improvement. To do that you have got to get your hands on a copy of your credit rating. That should not be difficult, since the government mandates that you are allowed to acquire one free of charge copy of your own credit report annually. You just have to inquire the right individuals. You can either look into the website for your Federal Trade Commission or maybe contact one of the main credit agencies immediately.

  1472. Oh my goodness! a tremendous article dude. Thanks Nonetheless I’m experiencing situation with ur rss . Don?t know why Unable to subscribe to it. Is there anyone getting equivalent rss drawback? Anyone who knows kindly respond. Thnkx

  1474. Hey very cool website!! Man .. Excellent .. Amazing .. I will bookmark your site and take the feeds also?I’m happy to find so many useful information here in the post, we need develop more strategies in this regard, thanks for sharing. . . . . .

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  1479. Hello there! Do you know if they make any plugins to safeguard against hackers? I’m kinda paranoid about losing everything I’ve worked hard on. Any tips?

  1480. I’ve been absent for some time, but now I remember why I used to love this website. Thanks , I?ll try and check back more often. How frequently you update your web site?

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  1483. Another thing is that when searching for a good online electronics store, look for web shops that are frequently updated, preserving up-to-date with the newest products, the perfect deals, as well as helpful information on products and services. This will make certain you are doing business with a shop that stays atop the competition and offers you things to make knowledgeable, well-informed electronics purchases. Thanks for the vital tips I’ve learned through your blog.

  1487. When I initially commented I clicked the -Notify me when new feedback are added- checkbox and now every time a comment is added I get four emails with the same comment. Is there any method you can remove me from that service? Thanks!

  1488. In these days of austerity as well as relative anxiety about running into debt, lots of people balk resistant to the idea of employing a credit card to make acquisition of merchandise or maybe pay for any occasion, preferring, instead to rely on this tried and also trusted procedure for making settlement – cash. However, in case you have the cash there to make the purchase 100 , then, paradoxically, this is the best time to use the card for several causes.

  1489. Something more important is that when evaluating a good online electronics store, look for web shops that are continuously updated, trying to keep up-to-date with the latest products, the perfect deals, as well as helpful information on services and products. This will ensure that you are getting through a shop which stays on top of the competition and offers you what you ought to make intelligent, well-informed electronics buying. Thanks for the important tips I have learned from your blog.

  1490. It?s really a nice and helpful piece of information. I am glad that you shared this useful information with us. Please keep us up to date like this. Thank you for sharing.

  1492. Thanks for the good writeup. It in reality was once a entertainment account it. Glance advanced to far introduced agreeable from you! By the way, how could we communicate?

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  1502. Today, considering the fast way of life that everyone is having, credit cards have a big demand throughout the economy. Persons coming from every arena are using the credit card and people who not using the credit card have prepared to apply for even one. Thanks for revealing your ideas in credit cards.

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  1506. Great post. I used to be checking continuously this weblog and I’m inspired! Extremely useful information specially the closing section 🙂 I take care of such information much. I was looking for this particular information for a long time. Thank you and best of luck.

  1508. Wow that was strange. I just wrote an incredibly long comment but after I clicked submit my comment didn’t appear. Grrrr… well I’m not writing all that over again. Anyway, just wanted to say great blog!

  1514. Does your site have a contact page? I’m having a tough time locating it but, I’d like to send you an e-mail. I’ve got some ideas for your blog you might be interested in hearing. Either way, great blog and I look forward to seeing it improve over time.

  1515. The very crux of your writing while appearing agreeable originally, did not settle properly with me after some time. Somewhere throughout the paragraphs you actually managed to make me a believer unfortunately only for a while. I nevertheless have got a problem with your leaps in assumptions and one might do nicely to fill in all those breaks. If you can accomplish that, I would undoubtedly be impressed.

  1516. An added important aspect is that if you are an older person, travel insurance regarding pensioners is something you should make sure you really take into account. The elderly you are, a lot more at risk you will be for getting something poor happen to you while overseas. If you are not really covered by several comprehensive insurance policy, you could have quite a few serious troubles. Thanks for revealing your advice on this blog site.

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  1521. Hmm it looks like your site ate my first comment (it was super long) so I guess I’ll just sum it up what I submitted and say, I’m thoroughly enjoying your blog. I too am an aspiring blog writer but I’m still new to everything. Do you have any points for inexperienced blog writers? I’d really appreciate it.

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  1526. I have realized that car insurance companies know the cars and trucks which are vulnerable to accidents along with other risks. In addition they know what types of cars are prone to higher risk plus the higher risk they’ve the higher your premium price. Understanding the very simple basics regarding car insurance will assist you to choose the right types of insurance policy which will take care of your preferences in case you get involved in an accident. Thank you for sharing the particular ideas with your blog.

  1530. Fantastic blog! Do you have any helpful hints for aspiring writers? I’m planning to start my own blog soon but I’m a little lost on everything. Would you suggest starting with a free platform like WordPress or go for a paid option? There are so many choices out there that I’m completely overwhelmed .. Any tips? Cheers!

  1532. The other day, while I was at work, my sister stole my iPad and tested to see if it can survive a 30 foot drop, just so she can be a youtube sensation. My apple ipad is now destroyed and she has 83 views. I know this is totally off topic but I had to share it with someone!

  1533. I’m really loving the theme/design of your site. Do you ever run into any browser compatibility issues? A couple of my blog readers have complained about my website not operating correctly in Explorer but looks great in Firefox. Do you have any tips to help fix this problem?

  1535. From my examination, shopping for electronic products online can for sure be expensive, nevertheless there are some tips that you can use to obtain the best products. There are constantly ways to come across discount offers that could make one to have the best electronic devices products at the cheapest prices. Interesting blog post.

  1536. I have seen plenty of useful items on your internet site about desktops. However, I have got the judgment that netbooks are still less than powerful sufficiently to be a good choice if you generally do things that require a lot of power, for example video modifying. But for website surfing, microsoft word processing, and many other frequent computer functions they are fine, provided you may not mind small screen size. Thanks for sharing your ideas.

  1537. You could certainly see your expertise in the work you write. The world hopes for even more passionate writers like you who are not afraid to say how they believe. Always follow your heart.

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  1543. Throughout the awesome scheme of things you secure a B+ just for effort. Exactly where you actually misplaced me personally was on the details. You know, they say, the devil is in the details… And it couldn’t be much more accurate right here. Having said that, allow me say to you what exactly did deliver the results. Your article (parts of it) is actually very powerful which is possibly the reason why I am making the effort in order to opine. I do not make it a regular habit of doing that. Secondly, whilst I can notice a leaps in logic you make, I am not really convinced of how you appear to unite the points which make your final result. For now I will subscribe to your issue but hope in the near future you actually connect your facts better.

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  1545. I have noticed that over the course of creating a relationship with real estate managers, you’ll be able to get them to understand that, in every real estate deal, a commission is paid. Eventually, FSBO sellers never “save” the payment. Rather, they try to win the commission by simply doing an agent’s work. In this, they commit their money in addition to time to complete, as best they might, the duties of an real estate agent. Those jobs include disclosing the home through marketing, introducing the home to prospective buyers, building a sense of buyer desperation in order to prompt an offer, organizing home inspections, dealing with qualification assessments with the financial institution, supervising fixes, and assisting the closing of the deal.

  1546. Does your site have a contact page? I’m having trouble locating it but, I’d like to shoot you an e-mail. I’ve got some creative ideas for your blog you might be interested in hearing. Either way, great blog and I look forward to seeing it develop over time.

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