You have a perfectly good property with a strategic location in Bali and intend to lease it in the near future? Slow down their buddy, and think for a second “Do you already understand the gist of leasing first?” Because this is 5 common pitfalls most people did when leasing property in Bali:
Set some solid terms and conditions about the leasing first…
Before you hand over your property to your tenant, or lessee make sure you already set a term and condition for the property before you reach a deal. A consistent and assertive term and condition agreed with both parties can prevent a disagreement later which can cause unnecessary conflict.
Leasing property in Bali can be profitable depending on these factors…
Save your best property for last!
Normally you would have thought to lease your best property first are the best move. But doing this will make your other property value dropped, so it’s a good idea to lease your property carefully with your least good first so you can get a good track record. This will come in handy, especially when you’re about to leasing property in Bali where the competition is stricter.
Check your tenant’s financial health
Sometimes the problem can come not only from you as owner or lessor, but it may also come from the tenant as well. Your lessee may have a financial problem along the way and thus preventing him/her to finish their payment. This can be problematic for the owner as well, especially if the tenant can’t find other ways to reimburse. So make sure you pick your tenant carefully.
You see, leasing property in Bali is not as simple as you may think…
Compare your prices
Just like every business, it’s always mandatory to check for the market price and try to adjust your current property to it. Try to sell your unique point about your property that others may not have. Or hire a consultant if you want a better perception.
Pay attention to the little details
Keep your property clean and tidy, fix every hole, and wipe any noticeable marks around the building. The property condition must be at 100% to make sure you can succeed in leasing your property, so your tenants can feel satisfied with the building condition.
Okay, so that covers every basic you need to know before trying to lease a property in Bali area. Have a Nice Day and Happy Leasing!