How asking “why” can be invaluable
Property managers who can pinpoint a landlord’s underlying driving force – fear, ego, desire or even the thrill of the chase – stand to benefit in a number of ways.
Executive General Manager of RentCover, Sharon Fox-Slater, said that kind of knowledge could be a significant advantage during a listing presentation.
“It enables you to show investors how you and your firm can help them achieve their particular goal, or help them avoid their deepest fears becoming reality.
“The landlord’s ‘why’ could also help you understanding the reasons behind their behaviour or concern, such as an unwillingness to spend money on repairs or improvements.
“It can also give you valuable insight into a landlord’s level of willingness to accept risk – which is useful when having the important conversation about landlord insurance.”
Property investors could also find it useful to reflect on their “why”, she said.
“Being aware of your underlying motivators and attitudes towards risk can also help you think more clearly and, hopefully, make better decisions."
“Finally, it’s common for one partner in a couple to be more enthusiastic about property than the other. Exploring each other’s motivations and expectations can help you avoid issues and come to a shared position.”