The risk of renting your property

[Alexandoy]

It is always the "Bad tenant" that is the villain when it comes to the problems of the landlord. But let us set aside the bad tenant for now and focus on other problems of renting the property. When we rented an apartment there was space for parking that can accommodate 3 cars. The apartment has 5 units and if each tenant has a car then it can cause a problem. That's what happened so the owner locked the driveway so the parking space will just be vacant and it was turned into a garden of potted plants.

When we rented a house there was a trucking business beside it that their trucks would park in front of our house. I complained to the local community but there was no action. When I threatened to leave, the owner of the house went to the mayor to fix the issue. There were many other issues in that rented house but the worst issue was the illegal drugs. There were drug sellers in the vicinity that is scary.

That goes to show that no matter how nice your property is, it would still depend on the environment. Maybe you have to be choosy with the location.

 

[kayode10]

One thing I can say is that nothing is risk-free in this world and the same thing goes for real estate investment. One of the risk within real estate is that you may have a bad tenants. The bad tenants can destroy some of the basic amenities in the house and they may not inform you about it. You only get to know when they vacate the property. Another problem is that you may find it difficult to pay back the mortgage if it happens that you buy the property at the wrong location if you do not do proper research.

 

[sincerem]

Yes, environment is of utmost importance when it comes to setting up a building. If you can't find a comfortable environment to build and create space around the environment, when investing in renting apartments then it is known to cause problem in the future just as you've explained. That's what a real estate owner should consider in order to erase any future lingering between the tenants especially the one you mentioned, which is a parking issue. It is very much possible to cause a parking of cars issue, due to tenants having vehicles or other motorable devices. When the space to park is simply small, it wouldn't be conducive to contain the number of tenants vehicles and such can raise eyebrows. In order to avoid that, the landlord should make a plan before setting up the building.

 

[General01]

Yeah, environment truly matters if one is buying or setting up his house for renting.
It is important to know that Life in it's entirety comes with a lot of risks . There is nothing that is ideal
One has to calculate the gravity of the risk if it is up to the acceptable and manageable standard from his point of reference before setting up the house or buying for renting

 

[Sotherefore]

Well yes I understand the point you are trying to arrive at , the environment at which our property is located is very important , I didn't have an idea that I should put this into consideration because I always believe that if I am getting a property for real estate purposes the most important thing I have to look in the environment is just the security and if the security is good then I can go ahead to invest in the property, but you have brought an important points which I also have to put into consideration.. I have to make sure that the neighborhood do not engage in illegal activities because this can also have some slight effects in the value of your property, anyone who is interested in getting a property or a rented apartment for themselves may not like to live among a group of people that engage in illegal activities, this is one of the risk we need to observe when we are buying a property... What if I may ask how can we be able to know the neighborhood that may likely goes into drugs in the future because there is no how you will be able to investigate this.

 

[Setho]

I believe that whenever things like this happen it is as a result of the carelessness of the house owners and the engineers who build the place in the first place. It is very important that you should know your target audience before you should start building a house. If you know that people who are going to own cars are going to be able to afford the house then you should be able to build efficient parking spaces for them. I have also experienced this kind of inconvenience is before and to be honest it is not fair at all.

 

[eldavis]

The issue of parking space has become a problem for most houses right now, here in my location, you would see alot of them parking their cars outside the compound, just cause there is no space for everyone. I have met some persons who refused to rent an apartment simply cause there was no parking space for them. In terms of security, it's not really safe that your car is outside out of your eye sight. The compound my elder sister's stays, though right now the space can still contain them in parking their cars but it's already causing issues, as for one to go out, they would have to tell the next person to drive out first before they can move out.