Ep46: Property Investing 101- How to Negotiate with Landlords plus Common Landlord Issues to Address
This question is a popular one among novice property investors – “How do I negotiate with landlords?”
But when you try to do a Google search, all you will find are information for tenants about how they can negotiate rent with their landlords.
Which makes this excerpt from one of our Member Question Time sessions particularly helpful.
In this episode, Mark delves into the art of landlord negotiation, how to identify the type of landlord before assessing their pain points and then offering the solution that solves their problem. He covers:
- How confidence is key
- Importance of knowing who you are dealing with
- The two types of landlords and different pain points
- The two stages of negotiation
- Importance of building rapport
Get the free resource that accompany this episode: Landlord Negotiation Training Slides. Click here to download
05:40 Fear of the unknown
07:20 Seeing yourself as a service provider
07:55 Speaking the landlord’s language/seeing their problems
08:50 Don’t get over-confident and make things up
10:00 Understanding the two different types of landlords
11:10 Working with accidental landlords
12:00 Working with professional landlords
13:25 Identifying a landlord’s pain
14:30 Examples of common pain points
15:40 Asking questions
17:05 Relating to the pain with a solution
17:30 Solutions to the common pains
18:05 Reactive maintenance vs all maintenance
19:10 Taking the headaches away
20:05 Not every landlord will be interested (right now)
21:00 Keep tabs of the property online
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