Value of tenant interaction
There is definitely something to be said in the value of a good business relationship with your tenants.
Even though I work a full-time job, I give my tenants my cell phone number, my home phone, and they can email me or text me.
I had a good tenant who's been with me for a year in a duplex let me know she was thinking of moving because she found a single-family house for $130/month less than the rent where she was at. (When I researched it, it seemed like the landlord would be crazy to rent it for that price because market rents in that area would be $150-$200 HIGHER than what she was charging.)
Well, I did take the call from the landlord, and gave a good, honest reference. I would hate to lose this tenant, but I understand the value of a single-family home over a duplex.
I then later checked in with the tenant and she said "I have Dawn, we will not be moving. The landlord, ***** kinda rubbed me the wrong way.... I think I would be giving up peace to save some money and it's not worth it."
Comments (2)
Awesome! Money isn't the only thing people base their decisions on. The value of an sympathetic, honest landlord weighs heavy :)
Mehran K., almost 11 years ago
Great way to run your business, Dawn. I know alot of experienced investors like to keep the tenants off a distance, but I think that direct interaction plays a big part in a tenant's psyche when it comes down to knowing who they want to work with!
Junior Salters, about 11 years ago