5 MISTAKES LANDLORDS MAKE ON THEIR PROPERTY BY DENNIS ISONG


Two years ago, in the Ikoyi neighborhood of Lagos, a room in one of the old buildings was rented out to a man. After a few months of familiarizing himself with the people around, he asked the landlord if he could display a few of his things in front of the house (he sold household gadgets), and the landlord agreed.




https://www.youtube.com/watch?v=aVOCabvCxiI


After another six months, he told the landlord that he was traveling, and since there was no issue with that, the landlord didn’t think anything of it. One week later, a woman (Mrs. B) came to the house looking for him. The landlord told her that he had traveled. The man who was with her asked the landlord a few questions, but the landlord couldn’t answer them. As a result, he was arrested. The man who was with Mrs. B was a police officer, but he wasn’t wearing his uniform on purpose. When they got to the police station, it was made clear to the landlord that he had accommodated a wanted fraudster and that he had to produce him.



https://www.youtube.com/watch?v=SPdz_x-gD_M


The landlord explained to them that the man ran a business and that he hadn’t moved out. They then went to check his room. When they got there, they saw that he had cleared out all of his belongings without the landlord’s knowledge. This case went on for weeks before the landlord was eventually released on bail. Many people are in jail now for things they shouldn’t be in jail for, and it all started with small mistakes that seemed insignificant at first. Tenants can leave your house in the blink of an eye, and you may not know the damage they have caused until it becomes a police case.



https://www.youtube.com/watch?v=hC4Ph9LZLCo



What are the mistakes landlords make?



1. Not having any traceable information about the occupants 



Many landlords in Nigeria, especially those who live outside of the country or far from their properties, are not careful about who they rent to. They often leave this task to real estate agents, who may not be as diligent in screening tenants. This can be a problem, as there are many criminals who are looking for places to stay so that they can commit crimes. It is important for landlords to be more proactive in screening potential tenants. This includes running background checks, calling references, and doing other research to ensure that the person renting their property is a good risk. It is also important to be aware of the signs of criminal activity, such as suspicious behavior or requests for unusual favors.



https://www.youtube.com/watch?v=rIMsNuQbQtg


2. Accepting occupants based on emotions



People do this. We hear a sob story and lose our guard. Bad people take advantage of this. All stories you are being told must be verified. You are not a bad person trying to protect your property because if push comes to shove, you (the landlord) will bear the larger burden of the problem. You should do away with emotions so you can make a sound judgment.




https://www.youtube.com/watch?v=YbMdc6HyMrE


3. Not having rules binding tenants to the house



This is very important; don’t treat your property nonchalantly. Set rules for occupants and make sure you also follow the rules. Not having rules is a mistake you should not make as a landlord because you are just setting yourself up for a big problem. One of the things that should bind you, the tenants, and the house rules. Without rules, it will collapse, literally. Rules binding tenants will curb excesses. There might be issues but it won’t be as horrible as not having any rules.



https://www.youtube.com/watch?v=6IfTrTmw-2c


4. Handing over the affairs of the house to a tenant also living in the same house



Landlords make this huge mistake. I am sure you might be wondering why and who should have been in the best position for it. I will tell you why. Do you think a tenant being put in charge of others will be neutral? Do you think he/she will be totally sincere with you? Do you think he/she doesn’t have a close friend and an enemy in the house and makes things favorable to one while the other is at the receiving end because of personal issues? 
In this situation, where the “house captain” also lives with the subordinates, it brings chaos and disarray eventually. The best fit for the job is an outsider who will be neutral and not emotionally attached to anyone.



https://www.youtube.com/watch?v=SprDg6LmG3o


5. Gossiping about tenants to one another



Please don’t do this. If you have an issue with any tenants, approach/her on a personal level. Gossiping about tenants to one another gives room for disrespect and I am sure it’s not something you want to deal with. In some communities, if a tenant is going beyond his boundaries, he is allowed to make a report to the landlord’s association and such cases will be treated accordingly.



https://www.youtube.com/watch?v=mIxSPm8hcCw


Dennis Isong helps individuals invest right in Real estate. For questions on this article or enquiring about Real estate. Email: Dennis@Landproperty.ng or Whatsapp/Call +2348164741041