Do your tenants know you own the property?

Question

Jeff Filali · Answer

This is an interesting topic. I can see where some owners would feel more comfortable being able to blame the "owners" for coming down on tenants for issues. The good cop/bad cop approach. There's nothing shady with that in my opinion.

Technically most of us do not own the properties, our LLC or other entity owns the properties. We are all just a Member/Manager/Rep/Officer of the entity.

Kelly Conrad · Answer

I didn't realize my post double posted! Oops. But, I've heard arguments in favor as a way to be honest with tenants in case they find out you're the owner another way. Folks also said that as long as you keep your boundaries and are firm on your policies, it shouldn't matter if your tenants know you're the owner or not.

Mitch Messer · Answer

Hi @Kelly Conrad. I'm curious: What are the arguments you've heard in favor of letting tenants know? Honestly, I've never heard a single rationale that didn't fit neatly into the categories of either "brazen vanity" or "raging ego."

Chuy Gonzalez · Answer

They are nosy...they know. I went out of my way to NOT inform my newest tenant that I was the owner. But they figure it out, or talk to other tenants. Or maybe me sitting in a lawn chair while painters painted an empty unit tipped them off? A particularly needed tenant used to call me instead of the PM company...so I don't give out my number and tell them to call the PM company for anything they need.

Maurice Layne · Answer

Who has had an issue from tenants when they found out you owned the property?

Jan H. · Answer

Treat others the way you want to be treated... How would you feel if you were a renter and the owner lied to you, saying he wasn't the owner? To me, it would not fit well, it would create distrust. I am always upfront and say it how it is. We're not friends, it's a business relationship and they are -sort of-my customers. Treat them with honesty and integrity and you'll sleep well!

Shannon Slade · Answer

You ask questions at application time and you verify all answers to approve them, so do not start the lease on being shady.

I know all my tenants and they know me as the owner. You do not have to be the bad guy, just the honest guy. I am straight up front when lease is signed, here are the rules and this is what is expected. If they enter into a lease with me they will follow or get the boot. I also tell them do not hesitate to contact me with any questions and as long as rent is on time and no delinquency then I repair all problems quickly.

Good luck on which ever way you choose to do business. Also I do not have anything but old vehicles to drive to do the repairs.

Thomas S. · Answer

I know all my tenants, I require them to provide financials, past landlords names, employment contacts and I collect their social insurance numbers to do a credit check. I believe they have the right to know I am the owner and that is how I introduce myself when we meet for the application interviews.

The reason owners do not identify themselves may be do to being unable to be the bad guy but that is rarely the real reason.

John A. · Answer

I tell the tenants I share ownership with other investors and I am responsible for all day to day management. Some things I can decide on my own and others need approval of all owners.

This is not untrue; my wife co-owns the property.

I too drive an old pick up truck when I meet tenants or visit the properties.

Adam Christopher Zaleski · Answer

I let my tenants know that I own the property.

I also make sure to drive my $2,000 car to the property to do minor repairs myself and dress is very inexpensive clothing.

Driving to the house in a 100K car and bark orders to a repairman would be a mistake, in my opinion.

Do your tenants know you own the property?

Do your tenants know you own the property?

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