Eradicating Slums in the Cities will increase Landlords’ property values
Shelter is a fundamental human need. Despite the advancement in technology, majority of the world still live in slums, Nigeria inclusive. A Slum can be defined as a heavily populated urban area characterized by substandard housing, inferior living conditions and usually by overcrowding, ‘TheFreeDictionary’ The problem of ‘Slum Cities’, however, is not a Government creation alone, we are all to blame. Eradicating slums should start from Landlords. Landlords should provide tenants with well-maintained and comfortable homes, after all, a happy tenant makes a happy landlord
A happy tenant makes a happy landlord
The nature of renting is often transient, however, a lower tenant turnover will mean lower costs. A well-maintained property will also reduce the amount of money spent on clean up and maintenance, due to low tenant turnover.
How do you encourage your tenants to put down roots in your property?
- Make your property a place you want to live yourself.
- Maintain the look and quality of the property; as many tenants relocate as a result of dissatisfaction with their rental home state of repair.
- Subsidize GYM or other activities for your tenants to familiarize them with the area. Tenants with ties to an area, seldom move