A two-minute read.

A landlords’ advice
article published recently said property investors need to think more like the
Amazon founder Jeff Bezos.

The billionaire
businessman is renowned for his long-term thinking. He thinks decades ahead,
and let’s face it, he’s not doing too bad, is he?

The article said
landlords should retain good tenants at a reasonable rate rather than aim to
get the highest rents in the short term.

It’s wise advice and
something we believe in.

When a landlord adopts
a short-term view of their property investment, it can often lead to lasting
headaches.

The advice you are
given can often depend on your letting agent’s philosophy.

Some agents will say
things like: ‘The rental market in Kent is on fire now. We can
get you even higher rents and squeeze out every penny from tenants.’

That’s not the way we
approach things. Why? Because if you hike up a person’s rent whenever possible,
it may mean more money in the short run but can be more costly in the long run.

Our advice to clients
and indeed anyone thinking of investing in rental property is this:

Getting higher monthly
rents isn’t as crucial in the mid to long term as finding and looking after
good quality tenants paying a fair rate.

Here are some of the plus
points a good longer term tenant brings:

Fewer void periods.

Fewer unnecessary
repair or maintenance call outs mean a reduction in the property’s running expenses.

Good tenants appreciate
they are being treated fairly and respectfully, and they look after their
home.

Never to be
underestimated is that having a good tenant in your property reduces your
stress levels.

Going for the highest
monthly rent charge as a property rental strategy can often be a mistake.

At CWB Property,
we take the time to find, vet and keep good quality tenants for our landlords.
This is the best way forward in the long term.

So, take a leaf out of
the wealthiest person in the World’s book (Bezos was ranked #1 by Forbes
magazine last month) and think further ahead when it comes to achieving rental
property success.

*Copyright 2021 AGENCY NAME