- The modern living space at Westgate Apartments has been handed over
- The real estate market has shown signs of "thawing"
- Critical projects with a total value of up to hundreds of trillions in the Hanoi sprint
- In the first 4 months of the year, traffic infrastructure was arranged at VND 22,000 billion
- The Prime Minister asked ministries and branches to join forces to remove difficulties in the real estate market
- 81,000 apartments in 355 commercial housing in Ho Chi Minh will be issued Pink Books in 2023
- National Reunification - International Labor Day and Hung Kings Commemoration Holiday Annoumcement
- VIProperty opens new office at Eco Green Saigon project.
Some difficulties when leasing apartments that investors frequently encounter
Investing in rental housing is a stable and highly profitable form of investment, but this is not an easy task when there are many difficulties. Many investors choose the rental apartment type of real estate business because of its advantages, such as enormous, stable and safe profit potential. However, besides those advantages are the difficulties that investors who lease houses can quickly lose their capital if there are no solutions to prevent them.
What are the difficulties in leasing an apartment or investing in the apartment?
Some typical difficulties in leasing apartments that owners often encounter are:
- TIME: The owners or investors are always too busy or need more time to manage. These problems are always the most challenging headache for investors wanting to enter the real estate rental industry.
- KNOWLEDGE AND SKILLS: The apartment owner must clearly understand the real estate rental contract or the legal, how to solve problems when a tenant dispute occurs, etc.
- INCURRED EXPENSES: It is difficult to control the costs incurred in the process of providing rental services, especially the fee for repair and maintenance of equipment of each apartment, the trouble in managing receipts about expenses for services such as house/room, electricity, water, and parking are the most challenging problems when leasing an apartment.
- MANAGEMENT CAPACITY: Some typical problems with the management capabilities are the inability to check and monitor security and fire prevention issues of the apartment system for rent, a large number of apartments for rent, difficulty in capturing information of tenants and sending the news of buildings and apartments for rent to customers, tenants do not have a sense of preserving assets and equipment in the apartment, thereby leading to a rapid decline in the value of the apartment.
- EARNING POWERS: Apartment owners who need to lease often take a long time to post apartments for rent, leading guests to see before deciding to rent. As a result, the profitability of the apartment will be poor and not maximized. In addition, with the lack of a reasonable rental strategy and a knowledgeable market team, apartment owners often encounter fake profits and actual losses or have been in business for a long time but have yet to show any signs of recovering their capital.
Some notes to limit difficulties when leasing an apartment
To overcome common problems when renting a house, ensure your interests and bring long-term benefits when renting an apartment, you need to note the following to avoid encountering difficulties:
- KNOWLEDGE OF RENTAL LAW: Knowledge of the law will help you avoid most mistakes when doing business with this service. Besides, obeying the law will help you to be protected by the law when disputes arise.
- SETTING RENTAL PROCESSES: Rental processes will save you time, effort and money. A clear, transparent way of working will also help you become more reputable and trustworthy in the eyes of tenants.
- KEEPING THE TENANTS FROM DOING THE REPAIRS THEMSELVES: If they do the repairs themselves, you can save a small amount of money in the short term. But in the long run, when repairs or changes are different from the design or structure of the building, it will have a direct impact on your property. Therefore, when a breakdown occurs, find the service at an affordable price and repair it yourself.
- CONSISTENT AND LEGAL TRANSACTIONS WITH TENANTS: When you need to sanction or terminate your tenancy, you should consistently apply the lease terms. And most importantly, these actions must be done legally by both owners and tenants. Stay up-to-date on applicable laws and regulations, and ensure you comply.
* besides the advantages are the difficulties when leasing an apartment.
The pioneer of property management service in Viet Nam – VIPropery company
Being a pioneer of the real estate industry in Vietnam, VIProperty is one of the first units to deploy an apartment management service. VIProperty is confident to be able to manage all your investment properties professionally, combine with the trust of a large and loyal customer base, we are confident that we can bring a stable number of tenants. As a pioneer in apartment management services, VIProperty is committed to maximizing profits and extending the life of your rental apartments. Here are some of the different values that VIProperty is proud to bring to Vietnam's real estate market with new preeminent values:
Consulting on renovation and refurbishment to increase the value of the apartment
Before renting a room, your apartment must be qualified to provide rental services. At the same time, the quality must also be commensurate with the target cost. To increase rental rates and increase profits, you must carry out refurbishment, furnishing and decoration design. As a busy investor, handling it alone will take time and expense. In addition, when standing as a host, you will not be able to grasp the tastes of today's customers. What do they need in your serviced apartment, and how to arrange the serviced apartment to attract tenants? The solution for this problem is the first pioneering and preeminent point in ViProperty's apartment management service package because we will help you survey and evaluate the quality and offer solutions to improve the quality of the apartment. This process will help your apartment strengthen its value in the long run and undoubtedly increase your revenue.
Professional marketing and media team
After the renovation and refurbishment of the apartment, VIProperty will send a professional Marketing and Communication team to take photos, record videos and start advertising campaigns on all social platforms. Professional and attractive images will help your apartment stand out and attract demanding customers, creating a significant and stable source of tenants for your apartments.
Dedicated technical and customer care team
When your apartment rental business starts to receive tenants, VIProperty always has a skilful technical team and 24/7-available-customer staff to ensure the fastest response to customer needs. While living in apartments managed by VIProperty, if customers have technical problems or any problems affecting their quality of life, we will be there within 24 hours with the technical team and property managers to handle the situation. The landlord and the tenant will only spend a little time and effort dealing with problems arising during the stay, which is one of the outstanding features when using VIProperty's apartment management service.
Mua bán, Cho Thuê, Quản lý, Thiết kế & cung cấp nội thất căn hộ chung cư.
PURCHASING, LEASING, MANAGEMENT, FURNISHING APARTMENT
☎ Hotline: (+84) 986 888 100
Westgate is a modern apartment complex located in the administrative center of Binh Chanh (Tan Tuc, Binh Chanh, Ho Chi Minh City), developed by An Gia as the investor and Ricons as the main construction contractor. The project is developed on a 3.1-hectare land plot, consisting of 4 residential towers with 20 floors each, offering approximately 2,000 apartments, shophouses, villas, and more...
The signs of "thawing" in the real estate market have started to emerge as a series of projects begin to kick off, boosting investor confidence. The capital market, corporate bonds, and project legalities have been continuously addressed by the government since mid-2022. In the first quarter, the State Bank and many commercial banks began announcing lowered deposit interest rates. Additionally, the 120 trillion VND package for social housing buyers has officially come into effect.
Many critical projects in Hanoi City are being accelerated to be completed this year and in 2024. Specifically, the investment project to build cultural and social works in Hanoi, with an investment of more than 1,300 billion VND, with a scale of nearly 40,000 m2, is expected to be completed in 2024.
The Ministry of Transport has disbursed nearly VND 22 trillion of public investment capital for transport infrastructure projects in the year's first four months. This figure is higher than the national average, reaching 23.2% of the plan assigned by the Prime Minister in 2023