The role of the investor can be frequently misinterpreted. They can be seen as a mysterious overseer, lurking in the background and pumping money into projects they believe in. While it can be tempting to view the investor as some impartial force that only wants a return on their money, their role in property is far more consequential than this.
While poor real estates and letting agencies might tell you otherwise, homes aren’t a shallow commodity, they’re a human right. Everyone must have one, no exception. Consequently, humane living standards must be met to ensure people have safe and comfortable lives. This is where the property investor has a great amount of sway and need to take more responsibility.
Incentive and Motivation
No matter what area they’re working in, some investors can be greedy. They’ll pool their finances into an unethical scheme that means they’ll turn a profit and think of very little outside of this box. The property investor can’t think this way, even if they’re facing rising mortgage and taxation rates that bottle neck their proceedings. Morals must win out over easy money, always.
For example, a shoddy property investor will seek to cut costs wherever possible. Perhaps the flooring will be from a hellish brand, or the windows will be weak, dirty and feeble on a particularly rough estate. Conversely, the decent property investor will aim to snag the best windows possible, ensuring that anyone who sets foot in one of their properties has the best environment they could hope for. In the end, everything they do must be backed up by principle.
Research and Awareness
When the heart of the property investor is in the right place, their mind must be also. Different properties have different needs, and it’s certainly not a case of one size fits all. A bungalow will have different requirements than a residential block, both in aesthetics and from a building perspective. It’s the role of the property investor to really use some common sense and some professional curtesy here.
Research is required to ensure well informed investments, and thus the safety of all. For example, the able property investor will no doubt have learnt a few things from terrible disasters, such as Grenfell Tower. These kinds of tragedies literally change the laws and the way in which things are done, such as the controversy around flammable cladding. These events should boost the feeling of responsibility within the property investor so that they can prevent them from reoccurring.
Some investors like to stick to the shadows. They enjoy that feeling of disconnect between themselves and whoever is using their service. Whether they have minions to do their bidding or simply duck the calls of a dissatisfied renter, that silent cash flow can seem very tempting to the greedy and stupid. Perhaps they think of themselves as responsible for the building, not the person occupying it?
However, property investors have an obligation not just to the property, but the person living within it too. For all intents and purposes, without them, they have no income. Consequently, they can take responsibility by inviting comments and feedback as to the quality of the property. This way, this open communication ensures that everyone is heard and that the property is maintained to a good condition.