Screening an applicant yesterday, the current DIY landlord of this potential tenant was very honest and provided lots of details. My final question to him was, “Given the opportunity, would you rent to this individual again?”
Answer? No. Why I curiously ask!? “Once, he was a couple days late with rent – and once I went by the house and there were a few weeds in the yard. I’m very strict and this was unacceptable so I will not renew his lease.”
Anyone can manage property, but not everyone has the right set of skills to effectively manage property. Before doing it – evaluate yourself and make sure you are strong in these areas:
People skills. If you don’t like people, have a short fuse, and no ability to be flexible – this might not be the right choice for you – simply because, you will be interacting with all kinds of people, on all different levels, about all kinds of things – all the time!
Business skills. If you don’t have skills to interact with people, then you will likely not have the skills to interact with other businesses or act professionally managing your own business. You also need to have some “business sense”. With this DIY landlord, it doesn’t make good business sense to not renew a lease for a tenant who has been there a couple years, wants to stay, pays rent and takes care of the home vs. a vacant home and no income.
Property management knowledge. If you have no idea what rental laws are in your state, what you can and can’t do, how to document income, etc., you better learn before you start.
Buying or selling Tucson real estate, Mt Lemmon, Tucson bank-owned homes, Tucson rental homes, or Tucson lease option homes? Visit www.KGCPropertiesLLC.com!
This blog is written with my opinions and my opinions are 
presented wit
h accuracy but not guarantees. Please talk to a professional before making any real estate, financial or agency decisions. Gabrielle Kamahele Rhind - 2011. If you want to reprint parts of this - just email me for my permission:TucsonsRealEstate@gmail.com.
Good post. Most people would not like to be a tenant at a property owned by this landlord.
Good morning, Gab....to answer your question, NO, I don't have what it takes.... first wrong move and they'd be evicted....
Barbara and I have match buddy responses. I admire those who do have the skills and tolerance...it ain't me babe!
Good for you - being diligent about tenant screening is VERY important in the landlord-tenant relationship.
Good Morning Gabrielle! In the case described you may even go one step further, if you expect perfect tenants maybe you should not be a landlord! If this fellow is that fussy about his tenant I just want to say good luck to you managing his property.
I have a few rentals with very few problems. I screen, screen and screen. I seem to get alots of single, retired women that stay at laest 6 years at a time.
Gabrialle - have done it in the past, in my other country. Now I can say I like to leave it to younger people.
I would love for you to open a branch office in my area. Very few property managers have your common sense and instincts!
Good morning Gabrielle come on over the NW Arkansas and join the fastest growing County in the State for some years now. We would love to have ya
Gaby,
So very true. What will shock the "previous landlord" is when he gets worse, less perfect tenants!
What we do is not rocket science, but there are a lot of nuiances that can translate to better ROI for an owner having the right property management in place.
Alll the best, Michelle