TIP OF THE MONTH - December 2014

Landlord-Tenant Relationship

Source: The Landlord’s Handbook-2nd Edition
              Daniel Goodwin & Richard Rusdorf

Many people believe that Landlords and Tenants are natural enemies.  Landlords are sometimes seen as heartless money-grubbers who would trade their mothers for a rent increase; or they are overworked, underpaid drudges who are slaves to their properties and Tenants.  Tenants are frequently seen as ne’er-do-wells who make unreasonable demands, destroy property, and refuse to pay rent.

There is some truth in these stereotypes: bad Landlords and bad Tenants do exist.  But the Landlord-Tenant Relationship is basically a business relationship.  If you learn to manage rental property efficiently-and that includes choosing good Tenants-then Landlord-Tenant transactions can be mutually rewarding.

It is well worth learning to deal with residents in a rational, businesslike way.  When a property is badly managed it becomes an active drain on all your valued resources: the physical property itself, your time, your energy and your money.

(Tip-Crossett Real Estate Services: it also has an impact on property values, including but not limited to blight in your neighborhood, insurance costs, operating costs, health & safety issues, environmental issues.)  It is all about management!!

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This web page was updated on 11/29/2014.