What is the biggest mistake landlords/property managers make when renting property?

Few are my observation,

• Not screening tenant back ground- Its mandatory to screen your tenant interms of origin, employment, credit report, criminal record and family size
• relying on verbal agreements. Just don’t forget: this is business and there is no place for building personal relationships with clients.
• Prefer cash transfer over On-line transfer - wire transfer keep you on track of transaction. you will not be mislead in transaction
• Slow in rent collections and not taking immediate action on rent payments
• Not knowing market rents and undercharging
• Not understanding cost effective maintenance techniques
• Not doing property inspections and resolving issues as they arise
• Lack of professionalism, treating tenants as mates
• Not renewing agreement on time with appropriate renal appreciation
• Highly emotional while dealing tenant termination

Will add then and there…

PGN Property Management - An End to End property management in Bangalore.