It is TRUE – property managers work for the owners!!!
BUT owners are the happiest when they have a tenant who treats their investment like a home; reports any maintenance issues, pays their rent on time and stays in the property for a long time. We do this by making sure that the TENANT is happy.
Many tenants complain of being treated badly or unfairly by owners; sometimes being made to feel like they are second rate. Indeed many owners feel that “it is my house – I will do what I want when I want”.
Guess what – this is not the best way to optimise return on investment!
Recently we have had a tenant who did everything that she should do as a tenant, and the owners just did not respect her rights. They constantly sent suppliers to do the gardens, or do maintenance without informing the tenant. The gardener did have an appointment to go around last week but he didn’t turn up on time. There was no communication and no apologies when he finally did arrive four hours late at 6pm at night. Technically he was still with in guidelines of the RTA so the owner couldn’t understand why the tenant was upset and why this behaviour is unacceptable.
Long story short this tenant’s lease is due for renewal and neither party wishes to extend the tenancy due to ill feeling- This owner will now loose a good tenant and in today’s market the property may stay vacant for several weeks – losing income.
REMEMBER – happy tenants means happy owners (and happy property managers)
Just because tenants don’t own their own homes – they still deserve to be treated with respect!
And it will affect your RETURN ON INVESTMENT