Empowering Tenants – Part One
When you have tenants living in your rental properties you want them to take care of the property and feel a sense of pride that comes from owning something. Yet they don’t own the property. So how do you get the tenants to feel a sense of pride and take care of the property? That is a question Founder/Managing Partner Lamar Hunt Jr. asked when he began renting property. The answer he discovered was to empower the tenant to feel like the property is their own. The next question is how did he do this? The answer is very carefully. All landlords know the angst of checking on a property perhaps on moveout and discovering the tenant has painted a room some bright custom color. This was done without the landlord’s permission and now it will cost time and money to fix. It’s frustrating. And more extensive rogue improvements may have been made. In this case the tenant felt empowered to make changes to the property yet made poor changes. The key is to strike a balance between empowering the tenant to improve the property and not make custom changes that will cost money to remove. We will cover that on the next installment. For more advice on other rental property issues, see our blog at http://lorettoproperties.com/. You can also call us at 913-236-2902 if you have a property to sell.