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Time manager platinum3/25/2023 Keep on top of repairs, be organised and proactive in your property maintenance and you won't have to deal with as many emergency situations. People won't make a decision solely on gadgets and gizmos, so don't spend huge amounts of time trying to impress your tenants with effects they might not need or want - unless of course, this is one of your unique selling points. Keep the space neutral, clean and simple, decluttered and impersonal to help potential tenants visualise their lives within your walls. You don't want to have to redo your property presentation each time to attract new tenants. Once you've established your buy-to-let business, there are many ways you can optimise your time and investment to keep everything running at its most efficient. Keep hold of your tenants and spend less time trying to present, market and fill your properties. By taking care to choose a desirable property - or at least one with desirable attributes - your tenants are more likely to think of it as a home and look after it well. If a property appears unloved or just a money-making asset, with little potential for improvement, there's a risk your tenants will regard it as little more than a stopgap. Consider buying a number of properties in a single building or a large property that can be split into functional, yet streamlined individual units to spread maintenance and management bills and optimise your time spent visiting your properties. One way of managing a portfolio of properties is to own a number in a concentrated space. Instead, why not identify the next nearby up-and-coming area and watch your property outperform the market, or look at different buy-to-let markets that appeal to a different type of tenant? If not your home town or current place of residence, where did you study? Where are your family or friends based? A little inside knowledge or support as you establish your portfolio, in a market you already understand, will get your property business off to the right start.Ä«uying in a popular buy-to-let area might be appealing but the market could already be saturated and rental rates irretrievably competitive. Think about places you already have links with to cut down on research time. Once you've made the decision to invest in buy-to-let property, there are many things you can do to fine-tune your time management when getting the project off the ground. Therefore, being efficient can maximise your return. You must put a value on your time and any time you spend on your portfolio, from sourcing and refurbishing properties to finding, retaining and managing tenants, is effectively an operating expense. If not trading your time for money was a key reason for investing in property - so you can make your assets work for you, even when you're sleeping - then you need to make sure you are managing your time effectively. However, the most successful property investment strategies are rarely 100% passive and can be very time-consuming if not organised properly. Running a buy-to-let property business can be very rewarding, both in a financial and personal satisfaction sense.
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