No loyalty (by Pat [VA]) Feb 14, 2017 6:39 AM|
No loyalty (by Emily [TX]) Feb 14, 2017 6:54 AM
No loyalty (by AllyM [NJ]) Feb 14, 2017 7:21 AM
No loyalty (by WMH [NC]) Feb 14, 2017 7:37 AM
No loyalty (by NE [PA]) Feb 14, 2017 7:56 AM
No loyalty (by Deanna [TX]) Feb 14, 2017 7:57 AM
No loyalty (by Pat [VA]) Feb 14, 2017 8:29 AM
No loyalty (by Jeffrey [VA]) Feb 14, 2017 8:46 AM
No loyalty (by Pat [VA]) Feb 14, 2017 8:51 AM
No loyalty (by S i d [MO]) Feb 14, 2017 8:57 AM
No loyalty (by Smokowna [MD]) Feb 14, 2017 8:58 AM
No loyalty (by Jeffrey [VA]) Feb 14, 2017 9:09 AM
No loyalty (by Jeffrey [VA]) Feb 14, 2017 9:18 AM
No loyalty (by Pat [VA]) Feb 14, 2017 9:24 AM
No loyalty (by S i d [MO]) Feb 14, 2017 11:17 AM
No loyalty (by S i d [MO]) Feb 14, 2017 11:23 AM
No loyalty (by Mike45 [NV]) Feb 14, 2017 12:16 PM
No loyalty (by Amy [MO]) Feb 14, 2017 1:48 PM
No loyalty (by RentsDue [MA]) Feb 14, 2017 1:52 PM
No loyalty (by Pat [VA]) Feb 14, 2017 3:24 PM
No loyalty (by Ken [NY]) Feb 14, 2017 4:12 PM
No loyalty (by RB [MI]) Feb 14, 2017 4:27 PM
No loyalty (by Pat [VA]) Feb 14, 2017 4:37 PM
No loyalty (by BRAD 20,000 [IN]) Feb 14, 2017 9:21 PM
No loyalty (by plenty [MO]) Feb 15, 2017 5:22 AM
No loyalty (by Lisa [PA]) Feb 15, 2017 6:47 AM
No loyalty (by Pat [VA]) Feb 15, 2017 7:13 AM
No loyalty (by Blue [IL]) Feb 16, 2017 5:38 AM
No loyalty (by Ray-N-Pa [PA]) Feb 18, 2017 4:34 PM
No loyalty (by John Gravina [AZ]) Feb 28, 2017 1:00 PM
No loyalty (by David Krulac [PA]) Feb 28, 2017 2:21 PM
No loyalty (by Valerie [VA]) Feb 28, 2017 4:07 PM
No loyalty (by Joyce [CA]) Mar 1, 2017 9:10 AM
No loyalty (by Dick [N]) Mar 7, 2017 12:18 PM
No loyalty (by LisaFL [FL]) Mar 7, 2017 12:38 PM
No loyalty (by Pat [VA]) Posted on: Feb 14, 2017 6:39 AM
My tenant has been renting from us for 2 years, we've had to work with him a few times, but he's always paid. We've always fixed anything that needed it right away. He pays us 475.00 a month for a 3 bdrm 14 x 65 unit with one bath, central air, fridge & range and washer/dryer included! # 102-0848 on my picture page, 2 tone brown. Property is private & quiet.
I've seen him replying to a lot of units offered on a local ad page. I realize I don't own them, but it bothers me that he evidently doesn't appreciate what he has and will dump us as soon as he finds something better.
I guess what I am asking is my "skin" too thin? I'm glad to get the rent each month, but I wouldn't dump him if someone came along and offered me more for the unit. --76.4.xx.xx
No loyalty (by Emily [TX]) Posted on: Feb 14, 2017 6:54 AM
Renting isn't about loyalty, it's a business. If I was renting and found a place that fit my needs better (whether those needs were relating to finances, space, location, amenities, or something else), I would move. It's not personal. You "dump" significant others, not customers/service providers. --155.201.xx.x
No loyalty (by AllyM [NJ]) Posted on: Feb 14, 2017 7:21 AM
Only 475 for a three br house? Sounds like something isn't right here. Would you move in there? Why not? The answers to these questions may be why he is looking. --73.33.xxx.xxx
No loyalty (by WMH [NC]) Posted on: Feb 14, 2017 7:37 AM
Are you "loyal" to your mortgage holder? If a better interest rate came along, would you re-finance? If a better HOUSE came along, would you sell and move?
You are providing housing, not friendship and loyalty. --173.22.xx.xx
No loyalty (by NE [PA]) Posted on: Feb 14, 2017 7:56 AM
Ally, it sounds like a trailer given the dimensions. --174.201.xx.xxx
No loyalty (by Deanna [TX]) Posted on: Feb 14, 2017 7:57 AM
It's a mobile home. Not that there's anything wrong with that, but I suspect there's a lot of overlap between your demographic and my demographic. (Fast food and factory workers.) Loyalty isn't one of the outstanding characteristics. Their house is more of a "place to stay and keep my stuff for now." If they find something $10/month cheaper, you may well find a vacancy... that $10 means more to them than it means to me. It's cool that he's stayed with you for 2 years... many of the people in my applicant pool don't keep the same employer for that long, let alone stay put for that long.
So keep doing things correctly-- for the sake of your biz, for the sake of your investment, for the sake of your reputation. But loyalty to your landlord is like loyalty to your cable company or to your mobile phone provider. --96.46.xxx.xx
No loyalty (by Pat [VA]) Posted on: Feb 14, 2017 8:29 AM
I will keep treating them the same way. They are our tenants not family or friends. I get it. I respect that he wants a nicer place. All I was saying was that when you do the best you can and know someone is "out there" and doesn't seem to care that you can see it, it hurts my pride I guess. This is a Facebook rental site for our area. Some of them he has responded to are 800./900. a month! Maybe I should take a hint and go up on the rent! --76.4.xx.xx
No loyalty (by Jeffrey [VA]) Posted on: Feb 14, 2017 8:46 AM
Pat, do you offer anything "extra" to your residents as part of a customer loyalty program. Most businesses who want loyalty from their customers go far beyond what a customer normally would expect and offer bonus "perks" for continued loyalty. What bonus perks do YOU offer residents? --72.214.xx.x
No loyalty (by Pat [VA]) Posted on: Feb 14, 2017 8:51 AM
Does going at 9:00 p.m. to investigate strange sounds for the GF count? I think 3 bedrooms, central A/C, & washer & dryer are perks enough for 475.00. Just saying..... --76.4.xx.xx
No loyalty (by S i d [MO]) Posted on: Feb 14, 2017 8:57 AM
Pat, as others have said, this isn't a loyalty issue: nor is it a personal issue. Tenants come and go. Land lords buy, sell, and rent. We "earn" our business dollars day by day. The day when another business outdoes our ability or desire to earn someone's business, it's nothing personal... just business.
I've had a few tenants with a warped sense of loyalty that led them to stop paying rent. Of course, loyalty to them was a one-way street exclusively for their benefit, in spite of me always taking care of issues and offering very competitive rents for years.
The only groups I can think of that truly still ascribe to the concept of loyalty would be the military. Everything else is just people making the decisions we all do for what best fits our needs and desires at the time. --173.19.xx.xxx
No loyalty (by Smokowna [MD]) Posted on: Feb 14, 2017 8:58 AM
That is a pretty good price, right about mid range I would say.
Nothing wrong with the scenario you describe. Here is what you are missing - perception. This tenant would pay more (within their means) if they thought something about your place was unattainable anywhere else. Starting first and foremost with your caring about the tenant.
(Some people will say this is a business I'm not here to care about my tenant).
For those, they just need to read "customer service".
Make certain your tenant knows your place is better, you are better, you support them with repairs and requests.
If there is stiff competition, put together some sort of program where they get a rebate if they pay on time for the next 12 months.
These suggestions are not for you to follow but a measure for you to check yourself against. If you walk away thinking " they simply don't know how much I have done for them" then you know you have homework to do.
At the same time, use the same good nature skills to attract the next tenant.
No loyalty (by Jeffrey [VA]) Posted on: Feb 14, 2017 9:09 AM
Pat, I hear you, but from a customer's standpoint, it's a good chance those are all things that they would expect from whomever they are renting from. UNLESS, you are doing a good job of SELLING your customers on how much you are doing BEYOND what the typical rental in the area offers which rents for the same price.
Here's my much bigger point for all those reading. If the truth be told, most of us landlords do a LOUSY job communicating (SELLING) to our residents, the value, benefits and or perks of renting our property. We simply assume our residents can see the value and then we can't understand why the residents wouldn't want to stay.
Unfortunately, many GOOD landlords lose up to half of their residents every year because of turnover. And I would dare say that a large percentage of renters who move would have stayed longer if those same good landlords had did a better job regularly RESELLING their renters on the value and perks of renting from them.
Hear me: It's not always about what you offer; it's what and how you communicate about what you offer! My name is Jeffrey and I'm your friend... --72.214.xx.x
No loyalty (by Jeffrey [VA]) Posted on: Feb 14, 2017 9:18 AM
Kudos to Smokowna, who posted while I was typing. He hit the nail on the head: "Here is what you are missing - perception."
By the way Smokowna, thanks for the many years of unique, thought provoking contributions you have shared. I really would like to formally meet you one day and connect your Q&A name to a face. Your posts have made me stop, ponder and and smile on countless occassions. --72.214.xx.x
No loyalty (by Pat [VA]) Posted on: Feb 14, 2017 9:24 AM
We put new vinyl flooring down in the unit before he moved in. He is young and didn't read the lease well enough to know he was responsible for lawn maintenance. (My husband handled his move-in, I could not at the time.) So, I explained it to him when he called & told me it needed cutting! So, yes, I could offer to do that, but there is nothing I can do about the age of the unit or the fact that it only has one bath.
I have decided that if we have something else come open, I will offer it to them, because they have proven themselves to be responsible.
Thanks for all of the input. --76.4.xx.xx
No loyalty (by S i d [MO]) Posted on: Feb 14, 2017 11:17 AM
Jeffrey, I really enjoyed your posts, as always...# 2 above is particularly good. Would you consider doing a talk about "Selling your advantages to your tenants" at this year's Convention? I'll be front and center with note pad in hand. --173.19.xx.xxx
No loyalty (by S i d [MO]) Posted on: Feb 14, 2017 11:23 AM
P.S. Not to brag, because I did kind of a lousy job of communicating in my first response post to Pat, but one way I "sell" tenants on the value of renting from me is 6-8 weeks before lease expires or renews, I walk thru the property with the tenant and make note of 2-3 things they would like changed/fixed/etc. We get it knocked out within a week. That way when the annual rent increase notice shows up, there's still a warm fuzzy in the tenant's mind that "S i d cares...he fixed up the property 2 weeks ago and took care of that darn squeaky cabinet hinge."
Seriously, the most expensive "fix" I've had out of this so far was a leaky flapper and fill valve that didn't cut off properly ($40 parts and labor). Tenant's water bill was high, but she never said anything because the previous owner never wanted to fix stuff and just let her pay $100/month for a single person. That's about twice as much as it should be in my area. She was so happy to save $500-$600 a year in water costs that even after I sent her a $25 rent increase she was happy to be my tenant. --173.19.xx.xxx
No loyalty (by Mike45 [NV]) Posted on: Feb 14, 2017 12:16 PM
Great reminder in this thread that we need to keep selling ourselves to our tenants!
The message: What sets us apart from the other landlords in this city? We care!
No loyalty (by Amy [MO]) Posted on: Feb 14, 2017 1:48 PM
We never know what the renter is going through. Could be going through a rough patch. Maybe your place is too far from his job, or kids need to change schools. Some just don't recognize when they've got it good. It is business, don't take it personal. He could just be checking things out to make sure he's getting a good price. Until he leaves, just carry on. --136.32.xxx.xxx
No loyalty (by RentsDue [MA]) Posted on: Feb 14, 2017 1:52 PM
Just ask him. You may find that it has nothing to do with the home . Maybe he doesn't like the neighbor's. Maybe he doesn't like the neighbor's barking dog. Maybe he lost his license and needs a place on the bus line. --174.199.x.xxx
No loyalty (by Pat [VA]) Posted on: Feb 14, 2017 3:24 PM
He is single, a truck driver, has a GF & baby that are only there part-time. We put a carport there for him when he moved in, and fixed a stopped up with grease drain w/o complaining, just asked them not to pour grease down it in the future. There are no close neighbors, it is in a field on our farm.
I think he just wants a newer unit with 2 baths. They've told us (especially the GF)that we've been really good to them. So, I'm not worried about it. I get inquiries every week from people needing a place. If they leave, we'll rent on....... --76.4.xx.xx
No loyalty (by Ken [NY]) Posted on: Feb 14, 2017 4:12 PM
You are too thin skinned,raise there rent and see what they say --24.25.xxx.xxx
No loyalty (by RB [MI]) Posted on: Feb 14, 2017 4:27 PM
BINGO ! Good Answer, Ken. --71.13.xx.xxx
No loyalty (by Pat [VA]) Posted on: Feb 14, 2017 4:37 PM
Thanks, Ken (NY), BTW, it is "their" not "there". --76.4.xx.xx
No loyalty (by BRAD 20,000 [IN]) Posted on: Feb 14, 2017 9:21 PM
Our job is to serve.
In their mind they are paying good money for us to serve them so showing up, fixing, etc is just normal.
The phrase "What WE did for THEM" is dangerous to the LL's attitide and emotional well being.
They owe us no more loyalty than if we were the cashier at WalMart. Serve them well, keep YOUR investment maintained, and treat them with respect.
Take it to the next level with Jeffrey's advice of a loyalty "program" of rewards and continued "marketing" to them about how they made a great decision by renting from you.
When they leave don't take it personally. And know that all the loyalty in the world will not stop their free atty from attacking you or filing bankruptcy on what they owe you.
Letting them fall behind will eventually be a money loss for you.
No loyalty (by plenty [MO]) Posted on: Feb 15, 2017 5:22 AM
... but I wouldn't dump him if someone came along and offered me more for the unit.
That is about YOU. What you do.
AND no perhaps you would not, but YOU COULD!!!
YOU COULD. Simple contract. Month to month. EITHER PARTY COULD.
I would not like to read or heard that someone was leaving or unhappy in one of my units. I would not dump them either, but I COULD. --173.108.xx.xxx
No loyalty (by Lisa [PA]) Posted on: Feb 15, 2017 6:47 AM
A rewards program, even if it is just for one unit, works wonders! Rent should Increase a little every year unless the economy in your area does not command it. If your rent is fair you are doing well. Sometimes, we think that if we fixed this or that up, we've gone above and beyond normal expectations because we all Know there are slumlords out there who could care less. I guess we've decided that we are going to take moments/offer rewards to let our residents know just how much we appreciate them! If you add up the years of rent payments, it can give a true glimpse of how much money you've made once expenses are taken off. "Perspective" in this case, is knowing how much they've invested in your business! Best of luck to you! --73.175.xx.xxx
No loyalty (by Pat [VA]) Posted on: Feb 15, 2017 7:13 AM
I've never gone up on the rent to him. I was just wondering if it had happened to anyone else and how did you feel about it? Did you just sit tight like I'm doing and say nothing? Did you tell them you saw it and ask if it is anything you can do to keep them? Did you give them notice and try to find someone that wanted to be there? These were the questions that popped in my mind. We have people advertising 2 bdrm 2 bath mobiles here for 600.00, just saw a doublewide advertised for 850.00 and one for 900.00. They don't keep them rented. I'd rather be on the low side and have fewer turnovers. That's just me. --76.4.xx.xx
No loyalty (by Blue [IL]) Posted on: Feb 16, 2017 5:38 AM
Why would you want to keep someone who doesn't want to rent from you? --75.132.xxx.xx
No loyalty (by Ray-N-Pa [PA]) Posted on: Feb 18, 2017 4:34 PM
10 weeks before my leases are up, I send out a survey to my tenants. I want to know what is bothering them and I want them to let me know. I offer them a $5 discount if they mail me back the survey filled out.
I go out of the way to make sure that they are happy so they are not looking for the next best thing out there. Vacancies cost money --24.239.xx.xxx
No loyalty (by John Gravina [AZ]) Posted on: Feb 28, 2017 1:00 PM
I disagree w/ a no. of comments on this page. I prefer understatement. --67.1.xx.xxx
No loyalty (by David Krulac [PA]) Posted on: Feb 28, 2017 2:21 PM
We've had some extremely long term tenancy. We have two 30+ year tenants. One of which said to me that the only way they are leaving is horizontal! The other 30+ year tenant had some lottery tickets, one day when I was over at their place. So I asked the tenant, "What would you do if you won the lottery?" The tenant said that they would buy this place, which was a 1 bedroom apartment in a multi-unit building. So even if they had millions they would still stay!
We try to provide a clean, safe place for our tenants at a reasonable price. We're not the highest price but we're not the lowest priced either, we're very competitive.
But beyond that we try to provide good service. Last winter, we had two tenants without heat on the weekend. In one of those cases we had a service representative there within an hour, who fixed the tenants furnace. The tenant was grateful, surprised and appreciative. The other case was also resolved that same day. I've talked to tenants who got no heat calls over the weekend and as a result the tenant was without heat for 4 or 5 days. Our tenants weren't without heat for 5 hours, see the difference.
Good tenants are like GOLD, we try to keep all of our good tenants and have other tenants who have rented from us for 23, 21, 18, 17, and 12 years. Vacancy and turnover costs can be very expensive, we do our best to reduce both. --152.208.xx.xxx
No loyalty (by Valerie [VA]) Posted on: Feb 28, 2017 4:07 PM
Impressive long term tenants. My area is more transient due to military but I do good by my tenants for two reasons: (1) it feels good to do good, and (2) it saves money in the long run. Why not be a hero and respond to a repair request immediately? You might keep a tenant longer and even if you don't, you got a repair done that you were going to have to do regardless to get the next tenant. Tenants move on for tons of reasons including a willingness to pay more for a place they like better. It's not just price, it's not just LL responsiveness, it's lots of reasons. But being a good LL will always serve you well. And it's not a sign you are a bad LL just because someone decides to move. "It's not you, it's me....." kind of breakup (haha). --70.197.xxx.xx
No loyalty (by Joyce [CA]) Posted on: Mar 1, 2017 9:10 AM
I like to do small things for the tenants, even a short text to make sure everything is ok. I send cute email Rent Reminders at the first of every month.
Re: lawns, I have found that hiring a gardener, at least for every other week, and adding the cost to the rent, makes a lot of sense and the units always look nice. If you allow tenants to do it, 9 times out of 10 they don't and then the property and neighborhood suffers. I do make sure everything is always clean and welcoming, adding flowers in the spring and trying to plant plants that flower.
Tenants are MY livelihood, so it's important they are treated right and treated the way I would want to be treated if I were renting. --174.62.xxx.xxx
No loyalty (by Dick [N]) Posted on: Mar 7, 2017 12:18 PM
I have been a landlord for over 30 years and own 26 rental units. I have renters who have been with me 19 yrs or longer A renter who died had been with me over 25 yrs. This is where your money is made. A good paying renter who has been with you for years and does not complain is wonderful. I only raise rent when the unit is empty. I have found this to be a good way to keep renters. These 26 renters provide me with a good income. Why raise rents and have more vacant units --24.158.xx.xxx
No loyalty (by LisaFL [FL]) Posted on: Mar 7, 2017 12:38 PM
I'm glad that's working for you. I used to be you and sort of still am. I too have some tenants who have been with me many years. In fact most of mine have been. They all pay below market rent but I started slowly raising them after seeing how much I was losing. Nobody has moved due to a rent increase.
In fact I just looked at all my properties and compared what I'm getting to what I could be getting and was stunned to find that if I raised my rents to fair market value or actually still slightly below I'd be making $28,000 a year more in rent. That pays for quite a few new roofs or air conditioners.
So by all means be charitable but not at your family's expense. --173.170.xxx.xxx