Mr. Chinedu has been trying to find occupants for his house since the last tenants moved out but couldn’t find anyone willing to pay that much for the apartments.
The previous occupants had stories and complaints to tell but Mr. Chinedu wasn’t ready to listen to anything because he believed he had built a perfect house. Weeks ran into months that the house was left vacant. And then, it became worrisome to him to the point that he was almost begging people to just come and rent the vacant apartments.
He came across someone looking for an apartment and after taking him around the house as a routine for any interested occupants, the person, who introduced himself as a property entrepreneur pointed out some faults in the house and why he or anyone may not be interested to rent the apartment.
Unlike before when Mr. Chinedu would have flared up when anyone tried to express how they felt about his house, he listened this time. Did he bother to make any changes to improve the outlook? Your guess is as good as mine.
A lot of house owners do not understand that the situation of their house largely depends on the value people place on it.
Some houses have been left unoccupied due to this reason. If you are serious about making money from your property investment, there are some things you ought to put into consideration.
Why does it seem difficult to find interested occupants?
1. Does your house have plumbing issues?
We all know that plumbing issues can be extremely frustrating for any intending tenant and no one wants to be in a house where they have to spend and go through so much stress trying to correct faulty issues like plumbing after paying so much for rent already. People would rather go for houses that have everything in good condition even if the rent is on the high side.
2. How about the security?
People will feel safer putting their money in a house that can guarantee maximum security. What kind of doors do you have on your property? Some houses in Nigeria are still making use of wooden doors which are not even strong enough to withstand any external trespass. With the deteriorating security condition of the country, no one would feel safe renting an apartment made with wooden doors.
3. Lack of accessibility to water
Water is extremely important anywhere we find ourselves. Inadequate availability of water turns prospective tenants off. No one wants to be in a house where the availability of water is zero.
4. Exposed soak away
Some house owners are nonchalant about this and this very situation has claimed so many lives. Leaving the septic tank exposed discourages people. Asides from the dangers, no one wants to endure an awful odor that emanates from the exposed septic tank.
5. Dilapidated toilet/ bathroom
The part of the house people always look out for is the toilet and bathroom. If the toilet bowl is looking like it would collapse anytime soon and the bathroom looks thick from overuse, it’s enough reason for people to want to take a step back from renting such apartment.
6. Rent fee is high than the value it brings
The price you place on rent must be equal to what you have to offer. No one, no matter how desperate they are to find an apartment to rent would be willing to pay exorbitantly for a rent that does not worth so much.
7.Undesirable feature
Property that has features like too many stairs, small room size, not enough toilets and bathrooms may find it difficult getting the property rented. Naturally, unless they have no choice, people dislike walking too many stairs. In fact, anyone above 40 years of age are not your target audience when you have a property with too many stairs. The size of the rooms could be too small to fit their household items. Someone with a king-size bed may not want a room that cannot accommodate a queen. Some tenants may be looking for more bathrooms and if your property can’t provide it, you may end up having people losing interest.
8. Location
It is no news that one of the things that favor a property is location. An unfavorable location is detrimental to the financial success of any property. Location problems can come in terms of proximity to central areas. People do not want to live in places where they can’t have easy access to transportation to major places like markets, schools for their children, and their work outlets or offices.
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
