Author Topic: Awesome tenants!  (Read 4434 times)

fishnfool

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Awesome tenants!
« on: July 10, 2016, 08:52:23 PM »
 I just returned from a vacation/rental inspection trip.  I was thrilled to see how well my tenants are taking  care of things.

When you get a tenant that enjoys where they live and take pride in maintaining their home even though they rent...what more can you ask for? 

Do you have tenants or did you ever have a tenant like the one I describe?

CowboyAndIndian

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Re: Awesome tenants!
« Reply #1 on: July 11, 2016, 05:43:58 AM »

When you get a tenant that enjoys where they live and take pride in maintaining their home even though they rent...what more can you ask for? 

Do you have tenants or did you ever have a tenant like the one I describe?

Awesome!

I have realized that the time you spend choosing a tenant matters. I carefully pick my tenant. I will keep my rental unoccupied if I do not find someone good (Great location, there is never a shortage of tenants).

I have also been lucky with great tenants. One is a PhD student. That kid is awesome. He keeps the apartment clean and tries to fix anything that does not work.



Secretly Saving

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Re: Awesome tenants!
« Reply #2 on: July 11, 2016, 08:05:20 AM »
We have great tenants and when we find them we have plans in place to keep them there and happy.  Nothing better than great tenants!

Stachetastic

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Re: Awesome tenants!
« Reply #3 on: July 11, 2016, 11:49:04 AM »
We have amazing tenants in one of our rentals. They take great pride in the property and it shows. Because of this, I have spent the last few weekends scraping/painting the exterior of the home. I'm no slumlord, but if I'd had worse tenants who didn't care for the property, then I likely would have put this off a bit longer. (The tenants had never mentioned being concerned about it.) One side of the house was worse than the others, so that is what I tackled. My tenant was so happy, he offered to do the rest if I left him some paint. Score!

jnc

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Re: Awesome tenants!
« Reply #4 on: July 11, 2016, 12:57:58 PM »
Yes, the current tenants on our primary home, which became a rental after we moved to Europe, are awesome tenants. We hope they stay on for a long time.

fishnfool

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Re: Awesome tenants!
« Reply #5 on: July 11, 2016, 09:32:42 PM »
We have great tenants and when we find them we have plans in place to keep them there and happy.  Nothing better than great tenants!
  Nothing better is right!   But curious about your plans to keep them in place....little extra perks? lower rent?

Glad to hear about others with good/great tenants, the bad ones are everywhere and get most of our attention I guess.

clarkfan1979

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Re: Awesome tenants!
« Reply #6 on: July 12, 2016, 03:48:31 PM »
It's worth it to have a rental that shows better than the competition. You often get applicants that are excited about how nice the place is and are motivated to keep it looking nice.

NoNonsenseLandlord

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Re: Awesome tenants!
« Reply #7 on: July 12, 2016, 09:14:13 PM »
I have plenty of tenants like that.  In fact, most tenants are like that.  But you have to know how to screen them.

Look for a solid income and a solid credit score for the best possibility of success.

sequoia

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Re: Awesome tenants!
« Reply #8 on: July 13, 2016, 01:10:49 AM »
I thought I had a pretty good tenant. The rental property is across the street from my house, so we know them. I hired a property management company so the tenant do not know we own the property. They are older couple and seems pleasant. They lived there for 7 years, but we decided that we need to sell the property. We had to make them leave and they aren't happy. They were surprised we can actually not renew their lease. We did gave them plenty of time.

The rent was below market, because we thought we want to keep them for a long time, and we like them.

Well, they moved out, and we discover that their bird - not sure what kind exactly, did a number of damage in the house. I think they let this bird free after they find out they are getting kicked out. That bird chewed door frames, blinds, vinyl floor, etc pretty much everywhere has chewing marks. Also the bird leave a lot of bird poops everywhere - on the light fixtures, door handles, closets, etc. It was disgusting. I do not expect everyone to be super clean, but I cant believe someone actually live in a house covered with bird poops.

So yeah maybe awesome tenants for 7 years, but at the end not so awesome.

Secretly Saving

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Re: Awesome tenants!
« Reply #9 on: July 13, 2016, 07:30:21 AM »
We have great tenants and when we find them we have plans in place to keep them there and happy.  Nothing better than great tenants!
  Nothing better is right!   But curious about your plans to keep them in place....little extra perks? lower rent?

Glad to hear about others with good/great tenants, the bad ones are everywhere and get most of our attention I guess.

We have additional perks offered if they sign a longterm lease.  The requirement is pay on time (in full) each month for a year and then the perks start kicking in. A few benefits: they are motivated to pay on time, they are happy with the perks, and so  they don't want to move.  You can pm me if you have further questions.

Secretly Saving

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Re: Awesome tenants!
« Reply #10 on: July 13, 2016, 07:33:33 AM »
I thought I had a pretty good tenant. The rental property is across the street from my house, so we know them. I hired a property management company so the tenant do not know we own the property. They are older couple and seems pleasant. They lived there for 7 years, but we decided that we need to sell the property. We had to make them leave and they aren't happy. They were surprised we can actually not renew their lease. We did gave them plenty of time.

The rent was below market, because we thought we want to keep them for a long time, and we like them.

Well, they moved out, and we discover that their bird - not sure what kind exactly, did a number of damage in the house. I think they let this bird free after they find out they are getting kicked out. That bird chewed door frames, blinds, vinyl floor, etc pretty much everywhere has chewing marks. Also the bird leave a lot of bird poops everywhere - on the light fixtures, door handles, closets, etc. It was disgusting. I do not expect everyone to be super clean, but I cant believe someone actually live in a house covered with bird poops.

So yeah maybe awesome tenants for 7 years, but at the end not so awesome.

Oh that stinks!  I wonder if they had learned that you owned it that they maybe would have behaved differently in the end... That social circle accountability. 

sequoia

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Re: Awesome tenants!
« Reply #11 on: July 13, 2016, 10:41:13 AM »
Quote

Oh that stinks!  I wonder if they had learned that you owned it that they maybe would have behaved differently in the end... That social circle accountability.

I thought about that, but I highly doubt it. They really turned sour on that property once they learned we arent renewing their lease. The first 7 years, when we meet and chat every once in a while, it is all about how wonderful the neighborhood is, how they love the house, and lucky to manage to rent this house blah blah...

The last 3 months, after they find out their lease arent being renewed. They turn 180 degree, it was like this house is a piece of s***. The blinds are cheap and dont work (well yeah the bird chewed thru the blinds), how the owner is too cheap to replace it etc. It was very depressing to hear.

OK I will stop complaining now :) Time to move on!
« Last Edit: July 13, 2016, 10:59:39 AM by sequoia »

fishnfool

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Re: Awesome tenants!
« Reply #12 on: July 13, 2016, 07:05:22 PM »
Sorry to hear that sequoia. I've heard some birds are very destructive. Tenants can turn very ugly when they have to move!

NoNonsenseLandlord

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Re: Awesome tenants!
« Reply #13 on: July 15, 2016, 06:55:18 AM »
I thought I had a pretty good tenant. The rental property is across the street from my house, so we know them. I hired a property management company so the tenant do not know we own the property. They are older couple and seems pleasant. They lived there for 7 years, but we decided that we need to sell the property. We had to make them leave and they aren't happy. They were surprised we can actually not renew their lease. We did gave them plenty of time.

The rent was below market, because we thought we want to keep them for a long time, and we like them.

Well, they moved out, and we discover that their bird - not sure what kind exactly, did a number of damage in the house. I think they let this bird free after they find out they are getting kicked out. That bird chewed door frames, blinds, vinyl floor, etc pretty much everywhere has chewing marks. Also the bird leave a lot of bird poops everywhere - on the light fixtures, door handles, closets, etc. It was disgusting. I do not expect everyone to be super clean, but I cant believe someone actually live in a house covered with bird poops.

So yeah maybe awesome tenants for 7 years, but at the end not so awesome.

They did not do that after you have them notice.  Odds are, it was like that the entire time.  I had a super couple move out after 6 years, same thing.  You would never realize what pigs people can be, and not clean anything when they leave.  And they moved on their own.

Keep rent close to market.  Make sure you make money when you can, as one bad turn can cost plenty.

alme

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Re: Awesome tenants!
« Reply #14 on: July 15, 2016, 12:36:51 PM »
We have awesome tenants. The husband is an electrician and can DIY pretty much anything, so they never complain about small problems. He even renovated their bathroom--ripped out shower, installed tub, tiled everything--and it's nicer than ours now. (We occupy an upstairs apartment with an identical footprint.) We paid for the materials, around $800 I think, and he provided the labor for free. The only issue we have is that he's requisitioned space in the detached garage for his equipment and a bunch of DIY projects that take him a while to get to. The garage is just storage space though--it doesn't lock, doesn't have an electronic door, and probably wouldn't fit a car--so it's mildly annoying and something we'll make clearer with the next tenants, but not worth rocking the boat over.

TexasRunner

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Re: Awesome tenants!
« Reply #15 on: July 15, 2016, 02:28:39 PM »
Personally, I would be willing to throw out a 'surprise' perk of slightly lowered rent or something similar after the second inspection.  Doing so without warning them enables you to see what they really live like and doesn't encourage cleaning things up only to get a benefit (after which it would return to crap).

mskyle

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Re: Awesome tenants!
« Reply #16 on: July 15, 2016, 02:45:30 PM »
I thought I had a pretty good tenant. The rental property is across the street from my house, so we know them. I hired a property management company so the tenant do not know we own the property. They are older couple and seems pleasant. They lived there for 7 years, but we decided that we need to sell the property. We had to make them leave and they aren't happy. They were surprised we can actually not renew their lease. We did gave them plenty of time.

The rent was below market, because we thought we want to keep them for a long time, and we like them.

Well, they moved out, and we discover that their bird - not sure what kind exactly, did a number of damage in the house. I think they let this bird free after they find out they are getting kicked out. That bird chewed door frames, blinds, vinyl floor, etc pretty much everywhere has chewing marks. Also the bird leave a lot of bird poops everywhere - on the light fixtures, door handles, closets, etc. It was disgusting. I do not expect everyone to be super clean, but I cant believe someone actually live in a house covered with bird poops.

So yeah maybe awesome tenants for 7 years, but at the end not so awesome.

They did not do that after you have them notice.  Odds are, it was like that the entire time.  I had a super couple move out after 6 years, same thing.  You would never realize what pigs people can be, and not clean anything when they leave.  And they moved on their own.

Keep rent close to market.  Make sure you make money when you can, as one bad turn can cost plenty.

Yeah, I kinda doubt they just sicced their bird on the doorframes once they knew they had to leave!

I actually think keeping rent close to market might help in terms of finding/keeping good tenants... way-below market rent can be a red flag to an awesome tenant (like myself) because it often signals that the landlords are unprofessional - either lazy or clueless.

The low rent was one of several dark-pink-shading-into-red flags on the apartment I currently rent (others include how the previous tenants had 10+ pets* in a supposedly pet-free apartment, the way the realtor who showed the apartment asked me not to tell the landlords about all the animals, and the exterior appearance of the house) and sure enough the landlords have been generally hard to deal with and have dragged their feet on even minor-but-important repairs like fixing the crumbling concrete back steps. No regrets, and it's been a good run while it lasted, but if they keep raising the rent and not fixing the steps (etc.) we'll probably be buying next year, even though the monetary benefit will be marginal at best in our HCOLA.

* Two cages of rats, a chinchilla, a rabbit, and two cats. I didn't count the rats. But after a couple of days of open windows and an extensive vacuuming-out of the heating ducts, it was fine.

calimom

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Re: Awesome tenants!
« Reply #17 on: July 15, 2016, 10:19:33 PM »
I co-own a duplex (with relatives) and we have had some up and down experiences with tenants. One nightmarish situation that was turning legal before one of the warring parties moved out.

Now, though, we have absolutely dreamy people living on both sides. Paying full market rents. They have become friends, have a shared garden, when in the past I used to make weekly visits to care for the front yards, they take care of it all. Last weekend they had a party and invited me and my kids, along with people in the neighborhood, and it was a great time. Normally I wouldn't go to something like this but we did and had a great time. Oysters and salmon on the grill, live music and my daughter and I had fun playing with the year old baby of one of the couples who live there. It turns out the other couple babysits when there is a lag in the baby's parents' work schedules.

What moire could you ask for? Both parties appreciate living there, it's a nice place and a good neighborhood, and take care of where they live.

Blindsquirrel

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Re: Awesome tenants!
« Reply #18 on: July 16, 2016, 06:48:38 PM »
 Our best tenants have been with us for 17 years in the current house that they are in. Paid 875 a month for 12x875x17 =$178500 for a 82k house. not a bad deal at all. They never call, redid the kitchen, built a deck, painted interior. Never call.  They picked out the house before the previous house that they lived in was torn down for a development. The inside and yard of that house is absolutely immaculate, I mean spotless. It blows my mind that they would stay so long and rent but oh well.  Our second best set have been in their house 15 years. I bought them a new fridge 10 years ago and have not been back since.

MakeSmarterDecisions

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Re: Awesome tenants!
« Reply #19 on: July 20, 2016, 08:15:50 AM »
We have some great tenants too!  Careful screening helps - and we have one at 21 years (my parents had a tenant for 25!) And ours is at the same rent too.... The house cost $44,000 in 1994 and tenants have paid over $150,000 (we refinanced it once and leveraged it on an apartment house). We have fixed 4 or 5 small things over the years - (so we've been in the house - at least every 2 or 3 years) and it is in very nice shape. We plan on downsizing and moving there next summer!

thingamabobs

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Re: Awesome tenants!
« Reply #20 on: July 25, 2016, 01:12:48 AM »
Slightly off topic, I noticed several of you mentioned tenants remodeling in your rental, do they discuss the plans with you ahead of time? Who pays for what?

We rent and would really like to rip out the carpet in the master bath. Have considered offering to renew lease to have landlord send someone to do it.

MakeSmarterDecisions

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Re: Awesome tenants!
« Reply #21 on: July 25, 2016, 06:49:26 AM »
Eww.... carpet in the bathroom!  We have in the lease that they can't make changes at all - so they contact us and we work it out. If we know them well (and trust them) - sometimes they do the work and we pay for the materials (paint, etc.)  We generally do the work though - if it is a reasonable request. Sounds like yours would be reasonable!