Landlord Newsletter # 8 Looking Inside Your Tenantís Mind
The LPA Newsletter, June 2004
Dear Fellow Landlord,
We're now headed into the summer months of landlording. For some of us, that means it's time to switch gears for the season. Certain issues like Air Conditioning, lawn maintenance and watering, moving in & out, swimming pools, insects, etc. are more likely to surface for many of us. I hope we all keep in mind one of my favorite quotes:
"Fail to prepare, Prepare to fail."
In this issue of The LPA Newsletter:
Dan has given LPA members a first look at: "Looking Inside Your Tenantís Mind, Basic Mind-Reading Report 101 for Landlords"
Please e-mail us if you have any
questions or would like to add or share any material / information. Have a nice Father's Day and a successful June.
SPECIAL REPORT: #8
Looking Inside Your Tenantís Mind
Basic Mind-Reading Report 101 for LandlordsBy Dan Auito, author of Magic Bullets in Real Estate.
This report will give you perspective and understanding in the realm of your tenantís mindsets and Modus of Operandi. Itís looking at their situation from their point of view as well as your own.
It goes without saying but I will say it anyway. The better you understand your tenants and their personal situation, the better you can serve their needs and your own. Notice that your needs come after your tenants. Always put your tenantsí needs before your own and they will buy real estate for you in return. Thatís a fair trade. Take it!
Many cold-hearted, self-serving, money-grudging, wanna-be landlords donít understand human nature. Let me tell you right now, if you canít put yourself in another personís shoes and see a problem from that personís perspective with empathy, you will fail miserably in the ďlandlordingĒ business and in life. Wise up!
Fear not. If your not quite sure what Iím talking about, here come the stories and details of how to be loved and adored by those kind people called tenants.
Let me first dispel the horror stories about landlording. If you follow my advice and teachings, you should have very few tales of woe to tell. Youíve heard the stories and they sound like this: Those damn lowlife tenants. They trashed our house, they disturbed the neighbors, they ruined our lawn, they were filthy pigs who never paid the rent on time, they never did what we told them to do and it cost us a fortune to get rid of them and repair our investment once they finally did move.
Well, guess whoís fault that is. Yep, it is completely and unequivocally the fault of the so-called person that is calling themselves a landlord. The real name for this type of so-called landlord is uneducated dummy and because of these lazy fools the whole industry gets a bad rap!
There is a plus side to the scenario above and that is this: It sets up a perfect opportunity for you to do the exact opposite of the fools and create for yourself an unlimited market supply of excellent trouble-free tenants for life!
Tenants, believe it or not, are human beings. They are not animals or things to be mistreated, abused or taken advantage of. If you will prepare your rentals as if your mother was going to be moving in, your mindset would be realigned in short order. In effect, you will start looking at it from a compassionate point of view. You will not cut corners. You wonít let things go that need fixing. You will use more care, skill and diligence in preparing that dwelling for another decent human being to begin calling home. Thatís what you want to achieve.
You want to provide a trouble-free, pleasurable, aesthetically pleasing, creature comfortable, needs fulfilling, safe, secure, affordable and convenient place to live. When you provide those things and screen the population, itís like striking gold.
The process of getting good tenants begins in your mind. By that, I mean you have to educate yourself to be able to recognize value and acquire properties that are structurally sound, aesthetically pleasing, physically functional and provide safety, security, affordability, convenience and a feeling of pride in your tenantís mind.
Sounds like a daunting task, doesnít it? Well itís not. In fact it is so simple to achieve that once you understand the process you wonít even have to think about it. It will come naturally to you. I promise you that this is true and I intend to prove it to you as well.
I absolutely guarantee that you can do it. So for now, just take my word for it as being a fact, because it is. Hereís an example of using a motto to align your thought process in relation to all the things I just said. Repeat the following:
I vow never to rent to someone else,
something that I myself would not be happy living in.
Mansions not included!
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A LANDLORD STORY"Property Management Petition."
by Diane Heinlein
"I confronted Judge Rinos in front of his courtroom, asking if he was a tenant or a landlord. He answered ďtenantĒ then became even more outraged...."
Excuse of the Day for 6/05/04:
"This house is haunted. Sorry, but NO WAY am I paying rent for a haunted house!"If you have any ghosts living with you, you'd better get rid of them or I'll have to charge you for the unauthorized occupants. - Anton, VA
Excuse of the Day for 6/02/04:
"The toilet sounds funny. I don't like it."- They are used to the flushometer toilet from the tenement they moved from. Normal toilets will take some getting used to- but it's NO reason to withhold the rent! - Marie, Uniondale, NY
Excuse of the Day for 6/01/04:
"You just bought that brand new truck! Why should I pay for your truck?"- You're not paying for my truck, you are paying for a place to live. I can't wait for this shrew to leave. - C.J., Levittown, NY
Excuse of the Day for 5/24/04:
"Why should I pay anymore rent? The fridge doesn't stay cold and there's garbage everywhere."This idiot supplied his own refrigetator and made his own mess. I'm taking pictures to bring with me to court. - Liz, FL
Excuse of the Day for 5/19/04:
"You didn't even come to our party. You didn't acknowledge my daughter's birthday!"I'm not your friend dammit! I'm your landlord. - Steve, BVR
"Fail to prepare? Prepare to fail."
"Discourage litigation. Persuade your neighbors to compromise whenever you can. As a peacemaker the lawyer has superior opportunity of being a good man. There will still be business enough."
"How much did your last tenant problem cost you?"
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