All Forum Posts by: Leanne Hunt

Bill, thank you for your input. You have raised some issues that I had not thought of, such as the legal aspect of being found negligent and the simple matter of the law prohibiting breaking and entering.

The block is on a busy street that is generally incident-free but our city has a reputation for a high crime rate and many people live in fear of break-ins or attack. I am more concerned with reassuring tenants of safety than actually keeping out thugs. I am meeting with my property manager tomorrow to discuss options and we will go from there.

Once again, your perspective is much appreciated!

Scott, you make a very important point. I wholeheartedly agree that venders need to be high on our list of people deserving recognition and respect. I work hard at building relationships with contractors over time so they will respond promptly when I need them. Thanks for the reminder!

Hi Tyran! I live in Johannesburg and find the site very useful indeed. As someone said, you have to know what you want out of it; learning, deals or connections. I am in it to learn and I get an enormous amount of good advice, helpful tips and personal inspiration from the blog and podcast in particular. I hope you will find as much value here as I do.

Colleen, I really apprexiate your reply. I habe not come across mechanical keypad locks but I'm sure they must be available here. My automatic response to the problem of access control was to contact an armed response company which specialises in all sorts of security solutions from panic buttons to infared beams and intercom systems.  However, something less sophisticated would definitely be preferable.  I will visit my hardware store and speak to my handyman.  I'm sure this will prove the answer.

So, here is good evidence of my dilemma. Dev makes the very good point that real investors need to market to motivated sellers to build their portfolio, while others say my main focus should be on tenants.  The idea of marketing my brand to investors has also come up, and this reflects the scope I was so overwhelmed by when I posted the question.

I guess it comes down to my priority at this point. Right now, although I have a property manager, I am struggling to find and keep tenants, and it isn't exactly clear why they are dissatisfied.  I reckon I'm going to regard tenants as my focus until I have an acceptable occupancy level and improved cash flow, at which point I will be better positioned to think about expansion and further investment.

Thaks for all the valuable input!

Anthony, I can sympathise. Having a property stand vacant is both discouraging and scary. You begin to second-guess yourself and imagine worst ase scenarios. My advice is this:

Put aside the emotion and face the fact that you may be asking too much rent. It is better to secure a tenant at a lower rental than forfeit a full rental each month. Next, expand your advertising to include classifieds in a local newspaper or online property circular. I would also recommend approaching a letting agent to advertise on their various portals, since you only have to pay a finder's fee to gain exposure to many top-ranking property websites.

I hope these suggestions offer you some footholds for your confidence so you can proceed with renewed enthusiasm and drive.

I am having some trouble keeping tenants in my 8-unit apartment block. Some tenants have broken leases on account of getting into debt but it seems security may be an issue. The block is set close to the street with a wrought-iron gate leading up a short path to a set of glass doors. Neither the gate nor the doors have locks. I have looked into several methods to improve security and would appreciate some thoughts from the community. Should I go for remote to open the gate and keys for the glass door? Should I go the whole hog and emply a security guard? Or should I opt for the digi-pad where tenants enter a pin at the gate, and where each flat has its own telephone intercom with a button to admit visitors? I'm worried about incurring lots of repair costs if the equipment gets broken.

Hi there! I wouldn't let the red tape get in your way when it comes to investment. If it is involvement in the property market you want, there are other ways to get your money working for you while you wait out the seven years. One option would be to invest in a crowdfunding project. Another would be to buy REITs or a property-based ETF. Or you could find someone who has a good credit rating with the bank and ask to partner with them. You have the cash, after all, and it would be better to participate in real estate investment indirectly than not at all.

Thanks, Chris. Your comment makes a lot of sense. Looking back, I suppose I knew this intuitively because I really do care that my properties match what the market is looking for. It was just that I have been working on my business plan and got stuck at the part about market analysis. I wasn't sure if my focus needed to be on attracting investors, t or tenants I'm feeling a lot more confident now!

Thanks, everyone! This really helps, and it's nice to know I am not the only one who has struggled with the concept of clients and customers.  I like the idea of being the one who sets the standards and therefore being responsible for the image of my products and services.  This hasn't been my attitude up till now so I have my work cut out for me in the year ahead!