Most of the time, property owners view listing their homes for sale or rent as a way to make money and neglect certain crucial variables that have a significant impact on their decision.
Just like we discussed in our previous article about factors to consider when buying or renting a house, property owners as well are bound to consider some important factors before listing their properties for sale or rent.
The goal of Prop-Tis GH in this article is to inform property owners and developers who wish to offer their homes for sale or rent about some crucial things they should take into account.
Below are five factors to consider as a property owner before giving out your property for sale or rent.
Clear Intention: to avoid wanting to kick your tenants out before their lease is over and regretting selling a property you think you could have used for something else. You have to make your intentions clear; whether you want to sell that house or land or you want to rent it out. In case you want to rent it out how would you prefer to do it? Is it for a short stay or a long stay? Getting all these answers will make you know what your intentions are, and you can get yourself prepared as a landlord if you decide to rent out your property. In this case, there won’t be any regrets later.
Pricing: You wouldn’t want to over-price or underprice your property. Both will have dire consequences for you. Overpricing, your property will mean keeping your property on the market for a very long time and underpricing your property will attract quick sales but at the expense of generating a loss. This factor is a crucial one, so property owners need to research the market before pricing their properties or better still seek the services of a professional like Prop-Tis GH.
The kind of tenants; In the current Ghanaian setting, most Landlords share the same compound as tenants and so it is important for landlords to do some background check on the person who is to become a neighbor for the sake of other tenants, and the community. For example, if a landlord gives his property to a tenant who smokes, it might become a problem for nonsmokers on the compound. Another point to consider is how long you want to give out your property for Ren? For instance, if a landlord wants to give his property out for a long stay, he might be considering giving it out to tenants with families, and if it is for a short stay, he might consider giving it to students who might be needing it for semester stays.
A documented agreement: An agreement outlining the terms and conditions that the tenant must abide by should be signed with a witness before a landlord hands a tenant the key to his or her property. This is crucial because it will serve as a behavioral guide for the tenant and a point of reference if there is ever a problem.
Consider the platform you are marketing your properties on; As a landlord, you wouldn’t want to associate yourself with just any real estate marketing platform, but you would want one that prioritizes your needs and attracts the
