{"id":204,"date":"2019-01-17T16:29:59","date_gmt":"2019-01-17T16:29:59","guid":{"rendered":"https:\/\/advice.aqarmap.com\/en\/?p=204"},"modified":"2019-01-20T07:56:41","modified_gmt":"2019-01-20T07:56:41","slug":"most-common-real-estate-problems","status":"publish","type":"post","link":"https:\/\/aqarmap.com.eg\/en\/advice\/most-common-real-estate-problems\/","title":{"rendered":"Most common Real Estate Problems"},"content":{"rendered":"
\n
\n

The only way to deal with real estate investment is to accept it if you’re not sure of any other ways to invest your money in.<\/p><\/blockquote>\n<\/div>\n<\/div>\n

\n
\n

In the\u00a0real estate world, tenants usually complain about landlords and the high asking prices of renting and selling, beside the insurance paid fees that every tenant pay to grantee keeping the place well.<\/p>\n

On the other hand, a lot of other problems appear to face\u00a0properties owners when they want to invest and rent their properties, and because of some renters this investment can turn into a nightmare for some owners, so they would decide to steer away from investing their money in real estate.<\/p>\n

Some problems facing property owners<\/strong><\/h2>\n

One basic problem that real estate investors face, whether they are small or large investors, is the problem maker tenant.\u00a0Troubles made by problem maker tenants are added to the package of troubles of real estate investment that should be noticed before entering the field of buying properties and renting it.<\/p>\n

Not all troubles facing property owners are\u00a0the late payment of the tenants, as only a few percentages of house renters pay their rent late, and if it was kept late month after month, the property owner has a complete right to terminate the contract, that is why paying the rent has never been the biggest problem when getting in the investing in the real estate industry.<\/p>\n

Some tenants think that a property owner should do all the maintenance work of the house, even the smallest ones reaching to dealing with electricity, water, gas\u00a0problems,\u00a0and bills which are\u00a0by logic the responsibility of the tenant himself and nothing to do with the owner.<\/p>\n

And if you are the type of\u00a0homeowner\u00a0that gets annoyed very fast,\u00a0these frequent problems will be a headache that you cannot bear.<\/p>\n

Here are some common problems that property owners face with tenants:<\/strong><\/p>\n

1- A tenant\u00a0refusing,\u00a0or late when paying the rent<\/strong><\/h3>\n

Tenants sometimes\u00a0refuse, or be late in\u00a0paying the rent and this happens for many reasons, maybe they have cash problems, or struggling with\u00a0bills,\u00a0or things are going wrong with their jobs,\u00a0so you need to ask why the rent is late\u00a0to see if this is temporary or this will happen again.<\/p>\n

2- The tenant disturbs the\u00a0<\/strong>neighbors<\/strong><\/h3>\n

When the neighbors complain about being disturbed by another,\u00a0then you need to investigate the situation to see where the problem is to be able to solve it<\/p>\n

3- Tenants leave the house quickly and don\u2019t complete their contracts<\/strong><\/h3>\n

Some owners complain\u00a0when the people they rent their properties to leave before they complete their\u00a0contract,\u00a0so instead of complaining \u00a0you need to ask yourself if there is a problem with the apartment itself causing them to leave<\/p>\n

4-Some tenants do damage\u00a0to the house on purpose<\/strong><\/h3>\n

Some tenants are evil, they do some damages on purpose to get revenge of the owner, that\u2019s why you need to mention in the contract with\u00a0<\/span>details the\u00a0conditions<\/strong> of the usage\u00a0<\/strong>to make them committed to keeping it clean and with good condition after they leave.<\/p>\n

How to terminate a contract with a\u00a0tenant?<\/strong><\/h3>\n

Remember, you can wait until the contract\u00a0ends,\u00a0whether it is a year or two, but if you need to end the contract earlier you can do that:<\/p>\n

1-Give the tenant a notice period of 2\u00a0months,\u00a0which is what the law states, to give the tenant enough time to find another place to go to.<\/p>\n

2-If the tenant doesn\u2019t want to leave after the notice period passed you can go to the court and get an order of getting him out very easily.<\/p>\n

3-If he doesn\u2019t want to do the court order, the court would send someone to execute the order.<\/p>\n

To avoid any problem related to any tenant, make sure to include everything in the contract to protect your\u00a0rights, and\u00a0the tenant\u2019s\u00a0rights,\u00a0this way you can invest in real estate with zero worry.<\/p>\n

Fund and market<\/strong><\/h2>\n

Another problem which can face you when you invest in real estates as a homeowner is the changes in the market and the funds, you need to keep your investment worth renting and to make it cover all the bills it requires when you don’t have a current tenant to pay this bill\u00a0for example gas bills, electricity, water,\u00a0<\/span>etc., all these bills you are responsible for until you find a tenant.<\/p>\n

Market and price\u00a0changes<\/strong><\/h2>\n

As a homeowner, you are affected by the market and price changes that happen\u00a0frequently in the market, you can find yourself owning an apartment in a place nobody wants, or you can find yourself owing an apparent with less value than the money you paid for it in the first place.<\/p>\n

Technical flaws in the building<\/strong><\/h2>\n

There is also a serious technical defect that can happen to any property, which could cost the homeowner a lot of money to fix because of legal necessity before he can put it for rent, which reduces both the expected profit margins offered for rent until all fixes are done.<\/p>\n<\/div>\n<\/div>\n