Having A Business Mentality When It Comes To Renting
So many times you hear these comments so I would like to review them:
1. Tenants are just a pain to deal with
2. Tenants wreck your properties
3. I am not going to do much to the property because I am only renting it
4. I am just going to use up the old paint, it doesn’t matter if it matches or not
5. I am going to get the repairs done the cheapest way possible, it won’t matter if they aren’t quite right
6. It’s only for the tenants, so it won’t matter
You can see the obvious thread here and I am not saying that it applies to all landlords or all tenants, but thought it would be an attitude of some landlords that would be worth talking about.
Let’s liken it to an everyday event.
For the men: how often do you go back to the same mechanic because he does a good job and because he respects you as the person paying his wages?
For the women: how many times do you go back to the same clothing shop because they want to cater to your needs and you feel that at least there is someone there taking an interest in your wants and desires?
For the landlord/tenant relationship: in the majority of cases, if a tenant feels respected by their landlord they are much more likely to return that respect and that comes through in their effort to pay their rent on time, look after the property and occasionally even do small repairs without bothering the landlord. As well as that, if they are good tenants and want to stay in the rental market, they will stay on for a long period reducing the landlord’s risk of getting a not so good tenant.
If a landlord puts that little extra effort into making his rental property look attractive and giving it a professional look, then the chances are much greater that he will get a tenant that will look after his property.
Tenants are renting for a variety of reasons and it does not necessarily mean that they do not have money or want to live in places that are unattractive.
Usually tenants who like to live in nicer properties are prepared to pay just that little extra so it becomes a win/win situation and really if you think about it, the landlord is the biggest winner with a tenant who will look after their property and a tenant who will want to stay in the property.
Filed Under: Property Investment
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