Landlords often find themselves in serious hot water with tenants because they try to inject too much logic and common sense into tenant management. Logic and common sense have their place, but they seldom count for much where legal issues are concerned. For example, it is nearly impossible to effectively force your personal living standards and ideals on your tenants. To do so could seriously affect your sanity. What earthly good would it do to make a million dollars from your rental properties if your tenants drive you crazy?
Enforcement of the rules, whether civil code laws or your own house rules is the best way you develop a smooth running management operation. Preventative techniques are as important to managing tenants as they are for the doctor who manages your personal health. One of my main criticisms about professional property managers is that they rarely act…..they mostly they react. They’re always ready and willing to fix the busted door, but only after the horse is outta the barn.
Many small mom and pop type investors give up the opportunity to make a ton of money and have a wonderful “come and-go” lifestyle simply because they never see the importance of learning to be a skilled landlord. You don’t become a skilled landlord when you acquire houses. You become the owner-that’s all! Skilled landlording will take some education. Basically there’s just two ways to learn landlording. You can learn from people like me or you can learn from the tenants. Even pay me 10 times more than I charge to teach you it’s still cheaper than learning this job from your tenants.