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Updated 12 months ago on . Most recent reply

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Fabian Escobar
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Existing tenant asking for a phone call

Fabian Escobar
Posted

We have an existing tenant in our single family home rental property. They would like to schedule a phone call to discuss future rent. “Ideally we would like to sign a longer term lease and it would be incredible if we could do it at a reduced rate” please keep in mind this tenant have asked multiple times in the past that want to purchase this property and we have said ‘no’. 

What do you all think this phone call should be handle? Any feedback or advice you might have would be appreciated.

Thanks,

Fabian

  • Fabian Escobar
  • Most Popular Reply

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    Melanie P.
    #3 General Real Estate Investing Contributor
    • Rental Property Investor
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    Melanie P.
    #3 General Real Estate Investing Contributor
    • Rental Property Investor
    Replied

    I don't recommend having telephone calls with tenants, ever. They reach us through their portal, text or email. If they call they leave a message and they receive a reply via the portal, text or email. This keeps a written record of our communications, keeps records straight about what was said when and to whom, avoids any "pressure" situations and prevents misunderstandings about what you agreed to or said to them.

    I would simply notify the tenants of your lease policy in response to their request. "You will receive renewal options in the mail 90 days prior to the expiration of your lease." We have had great success putting tenants on 2 year terms after the first year. We also offer one year, six month and month to month options, each one at a higher price as the terms get shorter. 

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