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The Most Common Property Management Mistakes

1.tNeglecting Tenant Screening<br>Always verify financial stability and rental history.<br>2.tUnderestimating Maintenance Costs<br>Budget for repairs and routine maintenance proactively.<br>3.tFailing to Understand Local Laws<br>Know tenant rights and legal regulations to avoid fines.<br>4.tPoor Communication with Tenants<br>Respond promptly to tenant queries and complaints.<br>5.tSetting Incorrect Rental Prices<br>Research market trends to set competitive rental rates.<br>

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The Most Common Property Management Mistakes

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  1. THE MOST COMMON PROPERTY MANAGEMENT MISTAKES NEGLECTING TENANT SCREENING 1 Always verify financial stability and rental history UNDERESTIMATING MAINTENANCE COSTS 2 Budget for repairs and routine maintenance proactively FAILING TO UNDERSTAND LOCAL LAWS 3 Know tenant rights and legal regulations to avoid fines POOR COMMUNICATION WITH TENANTS 4 Respond promptly to tenant queries and complaints SETTING INCORRECT RENTAL PRICES 5 Research market trends to set competitive rental rates IGNORING MARKET TRENDS 6 Adapt to tenant preferences and real estate changes INADEQUATE DOCUMENTATION 7 Keep detailed records of payments and agreements NOT HAVING A CONTINGENCY PLAN 8 Prepare for emergencies with reserves and strategies MICROMANAGING OR OVERDELEGATING 9 Balance control and delegation with clear oversight NEGLECTING PROPERTY UPKEEP 10 Upgrade and maintain properties to attract tenants source: www.sahasraproperties.co.in

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