WAIVE A RENT INCREASE. If a tenant has paid rent on time for 12 months straight, I thank them and tell them their rent increase that was going to be X amount is now waived and we will revisit next year. BE PROACTIVE ON REPAIRS. If a tenant has been great for multiple years, I reach out to them and ask if the place needs anything. By doing this, I have learned about leaky faucets, broken stove burners, and oth- er small issues the tenants did not want to complain about. I have fixed or even replaced items to thank them. OFFER TO UPGRADE. If tenants have been great for multiple years, I ask them if they want new carpet or new paint in bedrooms. Why do I these things? I want great tenants to stay, and I do not want to have turnover. If I can have quality tenants stay longer and invite their friends and family to occupy other units, I can create a nice community where everyone knows and likes each other and have higher profit and fewer landlord headaches. Over the years, I have found that my quality tenants stay longer because I let them know they are great tenants. The few that I have lost are because they left the area or they bought a home, which is awesome to hear about. I have delivered several welcome mats to tenants as they close on their new homes as a small gift to congratulate them. Real estate investing is a people business, and your tenants are your customers. As property owners, we need to provide great service, and I suggest giv- ing special attention to the customers who deserve reward. The more great tenants you have, the better and more profitable investor you will become. Problem tenants get too much airtime as it is easy to tell scary stories. Instead, let’s celebrate and talk about great tenants as they are what make real estate investing fun and profitable. Do yourself a favor and learn about your good tenants. Then, go out of your way to thank and reward them, so they stay longer. •
Michael Zuber worked in the Silicon Valley since graduating from Santa Clara University 20+ years ago. After wasting time and money in his 20s, he began investing buy and hold rental properties and never looked back. Michael grew his rental property portfolio from a single rental house to financial freedom in 15 years. Now that he no longer has a day job, he shares his story via his self-published book and YouTube Channel, both called One Rental at a Time.
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