So you are running a business!

[Ihe O.]

I keep reading people here saying  "Your rental properties are a business" as a precursor to  some inflexible dogma about sticking to the letter of agreements and pursuance of remedies for breaches. 

Let me point out something about business.

Serious businesses disregard their T&C's all the time.

Banks and credit card companies waive fees every day (it's known as the proverbial gesture of goodwill). United Airlines settled with the passenger they deemed entitled to kick off the plane. I just sued a multinational corporation and even though their service agreement states their liability is limited to the amount I paid they have just settled for a 4 figure amount.

So what follows from this?

Serious businesses waive their rules for customers that they want to keep.

A word in that last sentence brings me to another point. I keep reading about training your tenant. They are not your students or your kids. Don't refer to them as if they are.

If you are running a business then your tenants are your customers. Treat them like one. 

Last but not least.

Run your business. Don't let your business run you.