Are you "nice" to yout tenant?

[skater]

I keep the rent as high as possible and raise it as often as possible, but I attend to maintenance issues as quickly as possible.

I'd be more inclined to send my PM a Xmas card than any tenants.

i'm with marg - my rentals are strictly business and i don't spend unecesarily on them, but am prompt and don't quibble about maintanence issues -

This is me. Purely Business. I attend to maintenance, don't spend on things that are not necessary and use a PM to deal with the properties.

 

[Project1080]

I only send gifts cards to the one's who haven't taken out restraining orders.
Gee, I'm not THAT stupid!

Does thi smean I need to drop you off my xmas list?

Project 1080

The project: 10 IPs in 80 mths.

 

[Xenia]

I increase rent with market demands, all our properties even on the rent roll are at market rent and increased as the market goes up.

All repairs need to be done as necessary too, increasing rent and doing repairs are mutually exclusive. You need to be fair.

People that just want to increase rents and not do any repairs or maintenance on their property are only going to fail in the long run. I've seen it happen many times.... unfortunately!

 

[Dazz]

People that just want to increase rents and not do any repairs or maintenance on their property are only going to fail in the long run. I've seen it happen many times....

.....but as with most things, there are always exceptions.

 

[skater]

I got a nice surprise from the PM. I pride myself in knowing what the market rents are & letting the PM's know to raise the rents. One property got a $20 raise 6 months ago and the latest letter was to let me know it should go up another $20 and I hadn't realised. The tenant had a huge whinge last time, so I guess they would say that I'm not "nice" at all.

They complained on the basis that we "never do anything", and that interest rates had gone down, so her rent should go down too. The PM reminded her last time that we always do repairs promptly and keep it well maintained. We just don't improve the property and if the tenants want improvements made, the rents will be adjusted upwards accordingly. Also, that we were not a charity and that the property was part of our retirement fund, not hers. I can't wait for the next whinge.

 

[kathryn d]

I got a nice surprise from the PM. I pride myself in knowing Also, that we were not a charity and that the property was part of our retirement fund, not hers. I can't wait for the next whinge.

I like that answer.Might need to use that someday !!!

 

[BayView]

I never speak to them - only the PM.

I raise the rent whenever the PM says to, and I always ask when we get close to the end of lease time if we can raise it.

They have a pretty good handle on the market for what you can and can't get.

I do any maintenance when they request it.

 

[JustRent]

Rents should be kept in line with the market. The market is determined by tenants. Anything above fair market value will not get rented!

We keep abreast of the market and keep our landlords rents in line when needed. We also make sure to keep the tenants happy by not over doing rent rises and conducting any maintenance etc quickly and without too much disturbance.

Another point worth considering; simple additions to the property can be beneficial to both the owner and the tenant. For example just last week we suggested adding a dishwasher to a property, both owner and tenant were happy with this. The owner now receives an extra $20 a week, the tenant now has a dishwasher. The extra rent received will pay off the dishwasher in just over a year, thereafter the rental profit on this property is more and the property is more appealing to future tenants.

 

[zaph]

We have received Xmas cards, invitations to tenant's baby christening and later have these same tenants stop paying rent, and somehow it is our fault they can't manage their paycheques, or keep their jobs because of their explosive behavior.

Other tenants upon their leaving have given us thank you cards for making their first time away from home a memorable one.These are ones I prefer to remember.Unfortunately it is the former tenants who making the lasting memory.

We always try to give our tenants respect along with a clean and maintained place to live at a reasonable rent.
We do not force anyone to rent from us.They see how the place looks when they apply.All we ask is that they honor their lease.

When they have a maintenance problem, we address it as soon as possible. What I do not like is when they accuse us of not providing an improvement which we never said we were going to do. This last one was a tenant who wanted new windows, and has even bent the window frame with her a/c in the hopes we will. Nope, but if it can't be fixed, she will be paying for it.
The mobile she is in, can be rented again at a moments notice.

We have offered free month's rent if you pay on time for 12 months consecutively.Out of 12 tenants at that time, we had one actually receive the free month. We had thought about giving a token Xmas gift such as coffee mugs and hot chocolate, but knew it wouldn't really make a bit of difference. Instead we gave it to our tradies, laywer etc.

Treat it like a business, and maybe they won't take advantage of you.Don't count on it.
We charge 1 % of the rent even if they are a day late. We charge $50 for a NSF cheque.We start eviction when they are overdue.
These people generally rent for a reason...they can't afford a house.(not counting the investors here who rent along with owning an IP..that is a stategy.)
Some, like us next year, will rent until we decide where we want to live.

you sound like the landlords from hell

 

[kathryn d]

you sound like the landlords from hell

Rob always introduces himself as Evil Landlord when we first meet an applicant. It generally breaks the ice, and everyone has a chuckle.
I'm thinking of having t shirts made for Rob that have our Business Name on the front, and Evil Landlord on the back.
Just yesterday, while shopping for repair material for a rental, we struck up a conversation with a store employee. His daughter just rented a mobile with no heat ability, sagging floor, distinct cracks around the where the floor and walls meet (daylight can be seen). The Landlord hadn't given his daughter any of the legal required booklets etc. We gave them our business card, and said if the ever need information to call. The daughter did call, and we directed her to the Residential Tenancies Board as she should be able to get all of her rent back (she just moved in this week, landlord promised things and has now informed her, he will not do them)Now these are the Landlords from Hell.(I know you were only joking about us )

 

[Dazz]

Just relating to resi props thanks.

Ooooh, I had a cracking yarn to tell, but I'll keep it under my hat now.

It was all about the big bad Tenant and the little scared Landlord, but I'll have to save it for another day.

 

[jaycee]

Just rang mine, haven't spoken to her or her husband in 6 months when they re-signed (for 6 months) at the end of their first 12 month lease

The 6 month lease is now up in 1 month and when they signed they were keen to look for something bigger. Changed their mind and wwere hoping I'd let them sign on for another 12 months - be my guest please !!

Idiot over here didn't discuss rent amount though.

They paid $300/wk for 12 mths. I offered them 6 / 12 months at $335 (the original lease had a clause for rent to change to $330 at 6 mths, but I didn't do it). They asked about periodic, I suggested security of fixed term & asked how they felt about $325 - jumped at it for 6 months.

I haven't inspected in 6 months, but went there then to look at the aircon and the villa was just fine.

Now, do I be nice to the good tenants and say $325 is probably right enough & just sign em up at that ?

Electrician husband asked if he could replace the lightbulbwith a sensor light he buys, I said no probs...

I'm stoked they want to resign for 12 mths - make it 6 years with 2 tenants !

 

[vbplease]

Ooooh, I had a cracking yarn to tell, but I'll keep it under my hat now.

Much appreciated

 

[jaycee]

J
Now, do I be nice to the good tenants and say $325 is probably right enough & just sign em up at that ?

Decision made this afternoon, posted off new lease form at same rent, no increase. They can pay excess water this time though.