Let’s discuss the specific risks you might be potentially exposed to as a property investor. Market And Price Risks One of the first things that often come to the minds of people who think about investing into property is that the price of their property might drop and hence generate the misconception that
Now that you have a clear picture of what your investing-related risks are, the next step is to decide what you are going to do about them, or in other words, how you respond to those risks. For the positive risks, it is fairly straightforward – exploit those opportunities to the extent you can.
Have you done risk management before? Whenever I ask this question during my events or classes, only very few people raise their hands. As a matter of fact though everybody is doing risk management on a daily basis, including you. We might not have thought of our actions in those terms. Do you
After you have selected your tenant and agreed on the rent, tenure, plus any other details you need, put those into writing in a tenancy agreement, rental contract, or whatever similar term might be used in your jurisdiction. The clearer and more explicit you are in the terms and conditions, the better it is