As with every profession, once you're doing it for a long time, you start noticing things that are not necessarily obvious but create efficiency, optimise the business and generate better returns.

Professionals like to call these tips and tricks. Though for them, these may not be big secrets, for beginners and those with less experience, such tips can create major learning shortcuts and great efficiencies if implemented correctly.

Here are some tips that may or may not be obvious to you, but nevertheless can create great efficiencies in the process of letting properties.

1. Never get emotional in business. Easier said than done, but with some practice and time it becomes natural. Understand this, accept this and work towards success while giving yourself time to practice. Of course, you will get emotional about your properties, but when you do, go back and have a look at your balance sheet, income statement and cash flow. It will bring you back into focus, quickly – this is a business.

2. Set timely routines with tenants. If you send out invoices to tenants or SMS-based reminders on X date – do it consistently and all the time without fail. It helps you in your business processes and will train the tenant as to the processes you follow. After all, we humans are creatures of habit and learn by repetition.

3. Be clear in your communications at all times. Try to keep written communications, but above all, make them simple and clear. You can sometimes talk on the phone and written communications do not take place, but even if you convey something via the telephone to the tenant, put that in writing. Does this sound like a lot of work? It is not. It will save you a fortune later in arguments – a proven fact in all businesses. Tell the tenant that they can do X or Y and make clear what that is. If you said they may not install a cupboard on the wall, be clear about it.

Property24 29/04/2008