- This topic is empty.
July 31, 2023 at 6:21 pm #86292Liz
My question is this- we have a property that we rent out. We have rented it out for the past 15 years. I always find that the tenants turn on us after a while. We bend over backwards for the tenants. We fix anything and everything immediately, the fixtures and furnishings are practically new, we are always available, etc.
We even work with them on the rent. For instance, right now we should be charging double than what we are receiving in rent, but for the sake of having a decent person in there, I am happy to keep the rent low.
Do you guys find that your tenants resent you for being a have vs a have not? Meaning, they resent paying rent to a landlord even though they can’t afford to buy a property themselves?
This has been my experience each and every time. The tenant turns on you.
Thank you in advance xxJuly 31, 2023 at 6:22 pm #86293Laura
Ok this is going to be an unpopular opinion here, but people who want to build wealth by buying something, then having someone else pay for it, and as a consequence limit the available housing and therefore drive up the price so that renters get stuck in a cycle where they can’t afford to get into a property themselves, and are forced to work 2 jobs, get roommates, etc., to pay rent prices and have no better alternatives, being priced out of one of the most important ways you can start to establish generational stability and wealth IS the textbook capitalist bad guy, really. With housing shortages, income inequality, inaccessible affordable health care, education, etc., yes, people will resent those who use them to enrich someone who already has enough stability and wealth to get into the real estate market. And that’s what every single landlord does. I don’t care how nice and easy you are by comparison, you participate in a corrupt system.
Obviously, not all renters fit this mold. Some people have the means and choose not to own for whatever reason, but most rent because, when you peel back the onion, they simply weren’t born in the right socioeconomic class and have too many factors out of their control to alter their trajectory, or it takes years to do so.
But OP, sorry, but you thinking your renters should be grateful for you providing housing in good working condition (the bare minimum any landlord should be doing) while you’re effectively asking them to go to a job and work to pay you rent so you can buy property and build wealth so you don’t have to work is being realllllly oblivious to your relative privilege.
It’s a business transaction, you discounting the rent isn’t you doing them a favor, it’s you doing a cost/benefit analysis and concluding you would rather forego more income for the hassle of tenant churn and wear and tear. You’re not being nice, you’re doing what you value in your interest. You keeping your property in good condition should be the norm as that is the literal value you provide in this transaction, and just because you’re not as slummy as some chose to be and can get away with because we don’t do a good job enforcing legally tenant rights doesn’t mean that, at the core, the tenant/landlord relationship isn’t anything other than modern indentured servitude.
You can choose to decide, like many do, that this is the best way for you to achieve your personal goals; it’s legal; it’s mostly socially acceptable and in some circles admired; you do you…but OP lacks the self awareness to realize on their own that they represent the problem because they actively participate in creating the problem just makes me SMH.July 31, 2023 at 7:00 pm #86294KC Kline
Sounds like you need to hire a reputable property manager. It will increase the income and decrease your headaches.July 31, 2023 at 7:00 pm #86295Matthew
Unfortunately, I find that with many things the more leeway you give, the more people take advantage of. People are innately resentful of landlords, it would ￼seem. Charge market rate: Make no friends and make no enemies.July 31, 2023 at 7:01 pm #86296Kimberly
I have noticed that with quite a few tenants as well. Not everyone, but a lot. It doesn’t matter how nice you are, it’s never nice enough.
People generally see landlords as greedy and get resentful over time, even if their rent is only paying for the upkeep of the property.
We got a property manager to avoid that dynamic.July 31, 2023 at 7:02 pm #86297Damon
You need a property manager. I don’t know how the tenants feel because I’m trying my best to run a business. You sound too emotionally involved in the process.
I’m a business owner. Some employees feel some type of way about the owner. That’s their prerogative to do so. I know that they can get a new job but I’m not going anywhere, so it doesn’t bother me. Kinda the same with real estate, I’m the owner and will be the owner, if a tenant doesn’t like the rental they will find another place to live at the end of the lease.July 31, 2023 at 7:02 pm #86298Charlotte
You could charge DOUBLE the rent but are keeping it low for these tenants?
That is nice and we didn’t raise rent on good tenants, but you are taking a huge hit here. I wonder if that’s part of the reason you are having trouble? Maybe if you charged market rate you would get a different type of tenant?July 31, 2023 at 7:02 pm #86299Stefanie
Sometimes being nice makes people feel entitled. Business is business and has nothing to do with their feelings.July 31, 2023 at 7:03 pm #86300Li Tamara
As soon as you said you always work with them on rent, I knew that was it. If they can’t afford to be there, this is not the tenant you need. Sadly, if you’re extra nice, people try to get over on you. If you can’t do the tough stuff, it’s okay to hire out a property management company to do it for you.
Once they raise or enforce higher rents, they’ll get rid of problem tenant for you and you’ll have less headaches and more money.