Do you generally like your tenants?

[Erin Spradlin]

Frequently, I encounter people that are reticent to become investors because they believe that tenants are a major, consistent problem. I think this is a fair assumption as it is something that seems to be theme that runs through owning property. That said, I own four investments, and have had a lot of tenants with almost zero issues (knock on wood). Likewise, a lot of my investor clients don't seem to have major issues with their tenants either. I'm curious if this is just a myth or if people on this site feel that the notion "tenants will be a problem" is a fair assumption. 

[Aaron K.]

@Erin Spradlin the large majority of tenants are not a problem but given that almost all problems that do arise that can't be fixed fairly easily with a GC and a bit of money come from tenants they get the bad reputation when it happens.

[James Wise]

Originally posted by @Erin Spradlin:

Frequently, I encounter people that are reticent to become investors because they believe that tenants are a major, consistent problem. I think this is a fair assumption as it is something that seems to be theme that runs through owning property. That said, I own four investments, and have had a lot of tenants with almost zero issues (knock on wood). Likewise, a lot of my investor clients don't seem to have major issues with their tenants either. I'm curious if this is just a myth or if people on this site feel that the notion "tenants will be a problem" is a fair assumption. 

 No I do not like any of my tenants, I don't dislike them either though. You should not have a relationship with them one way or the other. You do your job, they do theirs. End of story.

[Blake Dailey]

@Erin Spradlin I feel like we always hear the worst cases. Its like when someone gives you 10 compliments about yourself and then one negative comment and that one negative is what you hold on to and think about - the same seems to be true about tenants.

What I have seen get a lot of people in trouble is improper screening that is not at all thorough and rather just puts the first person in the unit that can come up with move-in funds. Reading The Book on Managing Rental Properties and Landlording on Autopilot showed me that screening tenants is probably the most important thing you can do as a property owner that manages their own rentals themselves to protect yourself from bad tenants and save yourself a lot of headaches down the road. The best way to avoid problem tenants is to screen thoroughly and be "firm but fair" when training your tenant on how to be a good tenant. 

[Jill F.]

Yes. Though in all fairness, I generally like people.

[Dennis M.]

I love them on the first of the month but the other 30 days not so much 

[Clifford Paul]

I only like six of my tenants.  Franklin is my favorite! Jackson is a close second and Lincoln has been a great one too. Hamilton  always pays rent early but once Jefferson wanted a light bulb changed and Washington wanted to add a pet to his lease. I said show me the benjamins. 

[Erin Spradlin]

@Clifford Paul - haha, stupid, but I appreciate it.

@Blake Dailey - I share your opinion. I think it's easier to retain worst case scenarios, and I think people respond to negatives more than they respond to positives- so it's easy to dwell on doomsday scenarios.

[Connie Chan]

I like my tenants. But more important is that I respect them. 

I think of rentals as a BUSINESS not a hobby. So that means if I respect the tenant and think they will be responsible, take care of the home and pay rent on time, that's what I care more about. It's fine if we have different personalities or if we're unlikely to want to go hang out or anything. I'm not looking for friends when I list a home, I'm looking for someone great to do business wish.

[Isaac S.]

Be friendly, don't be friends.

They are your customers, so like any business person, respect and serve the good customers as best you can, try to replace the worst. If you only have good customers, than count yourself lucky.

[Kenneth Garrett]

@Erin Spradlin

This is a people business.  We should all conduct ourselves in a professional manner.  It’s ok to like your tenants, but not a requirement.  I can’t stand it when people say my tenant should be thankful I gave them a place to live.  That is completely arrogant and disrespectful.  Conduct yourself like a professional and run your business the same way.  It’s ok to like people, but at the end of the day it’s a business.  Liking you and evicting you are not mutually exclusive.  I’ll evict you whether I like you or not.

Be professional.

[Jim K.]

I like everyone and sympathize with everyone's problems. Right up to the point when I'm asked to choose what's best for them and their family over what's best for me and my family.

[Mark H. Porter]

For the most part I am separated from my tenants by the property managers.  Most of them time I show up as there is an issue the PM can’t resolve.  They are my customers and I have no relation with any of them.

[Terrell Garren]

To the same degree the power company, water company, bank, Apple, Microsoft, Verizon, Amazon, insurance company, Lowes, the post office, IRS, and the possum that lives in the woods behind my house like me. 

[Mike Dymski]

Residents are usually fine. It's the paid service providers that sometimes make me question whether or not REI is really worth it.

[JD Martin]

I have liked almost all of my tenants. I won't rent to someone that I think will be difficult or a PITA. That said, I don't care if I like them or not; at the end of the day, I provide nice housing at a good price, they pay the rent on time and take care of the property. We are business associates first and foremost. 

Also, I generally like people pretty well overall. Renting out property successfully is difficult if you are not a people person. 

[John Barrett]

@Erin Spradlin Rentals are a people business, so I view treating tenants with respect and professionalism as a requirement for long term success.  I think the real issue for many people who struggle is that they fail to follow their lease agreement and good land lording practices under the guise of being "friendly" or "workable".  This almost always ends badly for  both parties.

It is far better to set clear expectations with your tenants and then hold them accountable.  This doesn't mean you have to be a jerk but you do need to follow the remedies to situations as prescribed by your lease.  When both parties know what to expect I find it generally works out best for everyone.

Best of luck,

John

[Alissa Engel]

@Erin Spradlin

In general, yes. If I meet one that I don’t like; I don’t rent to them. I have my screening procedures that they must pass, but I rent to people I like and respect. Right now I have two military, a FedEx pilot, a doctor, an ICU nurse, a rancher, a business owner, a teacher...They follow the rules, they pay on time, and they take care of my properties.

That being said, I’m not friends with them. There’s a difference. Because you can’t really know how they are until they move and you get to return their deposit.

Over the years I’ve had a couple that I grew to dislike and they are gone the first legal chance I have to remove them.

People like to say things like, “It’s a business, take all emotion out, it’s all about the money, etc.”. It IS a business, and it’s so much more enjoyable if you like the people you work with. Emotional intelligence is highly undervalued on this forum.

[Jeff Filali]

@Erin Spradlin I haven't ever met any of my current tenants since transitioning all my properties to PM's three years ago.  The ones I had before that were all pretty good people, for the most part.  I only ever had to evict one, and they were good until they were laid off their jobs, and had a hard time finding new work, and wouldn't communicate with me or I may have been willing to work with them some. 

[Curt Neider]

@Erin Spradlin

A huge factor is the property style/value/area that you choose to invest in. I also think a big hidden factor is who the landlord is personally. It isn’t for everyone and some people create their own problems for themselves. I’ve had a few pretty bad tenants over the years and the biggest benefit for me was my attitude about them and the situation. Kind of customer service attitude?

If you hate fielding texts or calls at random times about little issues, hire a property management company. It doesn’t change all of the benefits of owning real estate.

Good post Erin. I bet you and yours are good landlords based on your experiences.

[Sylvia B.]

I like most of my tenants, but that doesn't mean we'll be friends.

We invest in a town with a population of 2100, so our circumstances are a bit different from most of BP members'. We rent to friends, acquaintances, family of friends. It's hard not to in a town this size. But we do not  become friends with people we rent to.

[James Wise]

Originally posted by @Sylvia B.:

I like most of my tenants, but that doesn't mean we'll be friends.

We invest in a town with a population of 2100, so our circumstances are a bit different from most of BP members'. We rent to friends, acquaintances, family of friends. It's hard not to in a town this size. But we do not  become friends with people we rent to.

 Ohh man nothing is worse then renting to friends, family and the like.....No matter what happens it's always the landlords fault and the landlord is always the bad guy. If I had no other option than to rent to friends, family and the like I'd exit the business.

[Bellman Tumasang]

@Dennis M. I’m assuming you love your tenants on the 1st of every month because that’s when they pay you.

[Isaac S.]

OK, I thought about this question for a day and want to revise my earlier response by adding some asterisks***

Generally, as others have said, property management is a very "people" oriented business. I agree with this philosophy, and I believe that are some people that should not be property manager or landlord.

My earlier reply was that it is best to be friendly, but not be friends, also, to be respectful and service oriented. I still feel that way, but wanted to add some perspective. 

****

However it is a product like groceries, food, or gas that may put you contact with every type of person in our society, depending on your specific location and product type(section 8 apartments vs. A+ SFR in Beverly Hills). Unlike an aero-space engineer who will mostly have regular interactions with other rocket scientists, or a corporate executive that will mostly interact with other corporate types, or a recently released prison convict gang felon, etc, etc.

That being said, I think there are two primary variables that determine if a property manager "likes" their tenants.

1. What personality type is the property manager? Some people don't "like" anybody, and yet others "like" just about everyone, and of course, most find themselves somewhere in the middle.

2. What personality type is their tenants? For the same reasons as number one. Also, it may be interesting to have tenants that are certain professions or backgrounds and cultures that  one landlord may "like"(or not) more than the another, for a host of reasons.

Personally, I have had tenants that I "like" and "dislike" because of personality traits  that I respect and admire or disrespect and despise.

Examples of tenants I "like" are the ones that are respectful and appreciative to me for my personal service and attention to detail. They are friendly and conscientious people who treat their neighbors and the property with respect and of course the most important condition, they pay their rent on time and don't try and take advantage of me.  

The ones I have actively "disliked" are generally the opposite.

All that being said...the more units you  manage and the longer you do this job, you will find that is best to try and be impersonal and slightly distant, don't be rude, but don't get involved with your tenants life. Just fix stuff fast, be respectful, responsible, and highly ethical, but don't get personally involved or connected enough to like or dislike a tenant. In the long run it makes things much easier.

[Account Closed]

@Erin Spradlin

Yes I do. If I ever met one of them maybe I’d change my mind lol.

[E.S. Burrell]

“I neither like nor  dislike my tenants. I care about their safety while renting my house and the safety of the house while their renting it.”

E S Burrell