Update on “Best Real Estate Investing Blog” Contest
The results are in for the Best Real Estate Investing Blog Contest, and while I did not win, I took the loss in stride, with a minimal of gratuitous moping and whining.
I want to express my heartfelt gratitude to all of you who voted for my blog. Thank you for your support!
Congratulations to Susan Lassiter-Lyons at The Investor Insights for winning the blog contest!
Memos and Tenants
A light, tender, sensitive touch is worth a tone of brawn.
As I mentioned in an earlier post, when we hear our tenants humming “Stairway to Heaven” that’s a sign that they may be they ready to move on.
However, my wife and I do everything in our power to keep them from ever even consider moving. We want them to stay forever! It’s the best way to keep our business operating smoothly and profitably.
In the rental house business, we use a light touch when communicating with tenants. A phone call is good when you need to quickly get in contact with your tenant, but if it’s not an urgent matter, our preferred means of communication with tenants is by sending them memos by regular mail.
Use the low-key approach
For example, if the tenant is not keeping up the yard work around their rental property, as agreed upon in the rental contract, we will write them a note in a calm and respectful manner identifying the problem. We may make a reference to the section of the contract that requires them to keep up the yard (but only if they are a repeat offender), and describe what needs to be performed to meet the terms of the agreement.
A phone call could easily put them in a defensive position, and turn into a heated conversation, which is the last thing we want. With a memo, the tone stays calm and the point gets made. And, we have a written record of what we have told them that we keep in the tenant’s file folder.
Keeping tenants informed
We keep our tenants informed about activities that we have planned for their property. We will usually call and let them know well ahead of time if we plan to do some preventative maintenance, on the roof, for example. If a plumber cancels an appointment, we’ll call them so they are not waiting around all afternoon for no reason. It’s really just practicing common courtesy.
As an example, here is a memo that I recently sent to two of our best tenants:
MEMODate: November 5, 20xx To: xxxx and xxxx Location: 2551 N. Banyon Blvd. Re: Yard work
This is just a friendly reminder that the front yard looks like it might need a little maintenance. I noticed that the weeds were starting to take over the yard a little.
If you could tidy it up a bit, I’d appreciate it. If you need a weed wacker just let me know. I’d be happy to loan you one.
I’m very grateful to have you as tenants. You have been really great about taking caring of the property.
If anything comes up where you need any help with repairs or anything else, please don’t hesitate to contact me.
(If you have already done this yard clean up, please disregard this letter.)With best regards, Terry Sprouse 270-xxxx