Rental risk management: Tenants, post #5
One of the important parameters in building a business Hrental is the tenant of course. There is a built-in conflict of interests between the tenants and the owners of the property. The tenants want the property to be best maintained and the owner wants the tenant to keep the property. So how do you break the veil of suspicion and this conflict of interests? I try to make connections between myself and my tenants, to create a common path in which there are integrated interests and joint walking. I do this by trying to employ my tenants in my other properties, thus making them an integral part of my team.
The tenants I prefer are of course people with orderly jobs and paying well as nurses in a hospital, but beyond the initial screening done to the tenant, I want to build a good relationship with my tenants.
One of the ways is to attach the tenant to my team. Some of my tenants are the gentleman, others clean houses, and even have one. In this particular case, this tenant has a lot of experience in carrying out maintenance work in the houses. So after I tried him and saw that he was doing very good work and at good prices I turned him into part of my team.
A win-win situation is created.
I received a satisfied tenant, who himself maintains the property he lives in. Of course, he gets more jobs in other properties.
I am of course pleased that I have attached one of the tenants to my team.
In short, building real relationships in the long run.
