I’ve had the experience of dealing with renters from time to time, though more in the capacity of property manager than as landlord. It has been one of the ugliest, most unpleasant things a person can go through in business.
You might say, “Well, everybody knows that—people don’t really respect what they don’t own.” True, I suppose, to a degree. But then, I’ve rented property for most of my life, in one way or the other, and it would be a slander to myself not to qualify such an adage. I’ve kept up the places and paid my rent. I’ve given them back to their owners in as good a shape as they gave them to me, “normal wear and tear accepted.” So I think there’s something else behind what I’ve gone through. Let me relate my woes:
Let it be said that this property is in a prime location, is practically brand new, and is marketed at a price that would chase away the kind of folks who aren’t paying much, so don’t care much. A professional set is the target audience and a professional set, by and large, has been interested in leasing it.
But you’d be surprised at what even professionals are capable of doing. The first group of people came well recommended and had good references; they had the money and were anxious to move right in. They were in transition (which now I know is always a dangerous state—volatile and unpredictable). [Read more...]