I’m not the panacea for all things in real estate, property management in particular. All I am, as part of my real estate hat on a daily basis, is a guy that cares about owners of rental property, IN EQUAL amounts to caring about tenants.
Having and knowing this, also know it’s a business. And the business is real simple in my mind. Offer quality property to rent, be responsive, and you’ll find and get quality residents to rent your property…..which gets me to an interesting story to share……
One of the properties I manage has had probably the most odd thing I can think of happen…..a rat gets thru the wall, into the unit, and basically chews a hole in the water line to the dishwasher…..at 3am of course……and it’s a condo/HOA in a very old building, with units stacked on top of each other……and the amount of water damage that ensues is staggering. I get the call that AM, I respond at the level I can, and I can’t believe what I’m seeing……it’s a disaster of sorts. Not hurricane disaster, but the water went everywhere.
Here is where it gets really interesting, because a day later, we have valves jammed with debris, circuit breakers and outlets shorting, and so it goes on……from Thursday thru the following Monday (today in fact, well tonight actually), I’m at the unit, doing what I can (which isn’t much to be honest), but the part I’m good at, is getting my vendors to respond to ongoing needs to get the unit put back together. I’m very lucky here, I’ve manage to align myself with good companies, who respond to me……and in return, we pay all bills super fast, no fuss, it’s a synergy made in heaven…….
Now in the grand scheme, the water went down, not out, so damage wise, not that much in the unit…..but getting the niggly things sorted, electrician out twice on short notice to fix blown breakers over this past weekend……the plumber out to fix plugged valves, to even tonight, after dinner hours, plumber out to try and unstick the showever valve of debris……and me being his trusty side kick Tonto…….er, me doing what I can to move it along.
So shower valve in about 50 pieces, the darn thing just is jammed with gunk, and if you are wondering how that happens…….turn the water off to the building, then turn it on, and watch 100+ year old pipes pack valves with debris. Or bits of pipe is really what it is, as the pipe goes from no PSI to a lot of PSI all at once when that water comes back on and crams it into the little jets that hot and colder water is pressurized to flow thru…….I love old buidings, but hate em in times like this.
The point to the story is coming, so don’t stop reading now, but it’s the tenant. She’s a delight. I am fortunate that she found our ad to rent, and chose the property, and by default, chose us. She’s taken this in stride, worked with me, trusted me, and in return, I have done everything I can to make each day the best I can for her including a rent credit…..despite all the troubles these past 5 days and more to come. She’s laughed with me, endured me trouping thru her home, yes…..it’s her home, not mine……..and endured more than any resident ever should have too. I’m fortunate that I’ve made her acquaintenance when she first rented, and even more grateful now……she’s a delight, quality person, and I’m fortunate to know her in the line of business that I am in.
So if you happen to be reading this, and you happen to be thinking about buying a rental property or happen to be new at your ownership experience, know one thing above all…….take care of your tenants, and they will take care of you.