All Forum Posts by: Lionel Johnston

Great considerations @Lionel Johnston.  I have often felt into this too!

Are tenants simply revenue-generating widgets, or should they be treated like a customer, meaning we're trying to earn and retain their business?

No, they are not widgets, IMHO.  I have always viewed them as partners.  I mean, if they don't pay their rent, the responsibility to pay ultimately comes back to me and my business.  I make a real and authentic effort to incentivize them to take care of my properties and reach out if something isn't right.  I always imagine myself living there with a newborn.  If I wouldn't lay my child on the floor, it needs to be remedied before advertising for rent. We have long term tenants who have only left bc of natural death.  Like 18 years, 13 years, 7 years, etc. It sickens me to hear when landlords are slumlords treating people as less than human.  

In addition, I only invest with people (sponsors of funds) who have proven to treat other people as humans.

There are many people that like to complain that rent is unaffordable and landlords are just greedy. Is that true?

This is also not true. Most landlords I know are willing to hear a tenant out on circumstances regarding rent payment or early lease termination, etc.  And they do put a lot of care into maintenance and safety issues.  They don't always buy/use the cheapest appliance, handyman, etc. Especially if there is an opportunity for tax incentives IE. with energy efficient furnaces, et al. Or likelihood of incompetence.  I learned a long time ago that cheapest is rarely the best option.  

There will always be complainers but that is a whole other topic re privilege, politics and maturity to name a few.

Awesome video Lionel.  

Are tenants simply revenue-generating widgets, or should they be treated like a customer, meaning we're trying to earn and retain their business?

I'm naturally an optimist, but I really do believe that the number of landlords that treat their tenants like they are just numbers on a spreadsheet is much less than people who treat them like humans. With that being said, as we become more removed from our tenants by out sourcing property management, it becomes much easier to forget about the day to day experiences of our tenants. This video might be a good reminder for those landlords who have fallen into this trap.

There are many people that like to complain that rent is unaffordable and landlords are just greedy. Is that true?

People love to complain :) I try not to pay too much attention to these types of comments. Yes, there are some greedy landlords out there. However, you can only be so greedy for so long. If you are demanding significantly more than market rent, or you going cheap on all of your repairs, your tenants aren't going to stay with you for long. Sure some landlords might be able to get away with it for longer than they should, but I believe that treating your tenants fairly, like customers as you put it, is a win for all parties involved.

Unfortunately the 'complainers' are much more talkative than the people who are content.