3rd August 2008

Landlord Ethics

posted in Landlord/Tenant |

An interesting event happened recently which inspired this post. In general, I try to treat my tenants the way I would like to be treated as a tenant. I try to be respectful of their privacy, financial situation, family situation, etc. This is not to say that if they abuse this trust I won’t come down on them like a ton of bricks.

Anyway, I have a set of roommate tenants with whom I have a good relationship. They are respectful as am I. About two months ago, when their lease ended, they moved out to a house owned by a family member with the idea being that they would live in the house and would someday soon own it. The only catch was that there would be other family members living there and it’s kind of out-of-town from where they work. They “warned” me that they may be calling me in a couple of months if things don’t work out with the family house.

Sure enough, I just signed a lease this weekend with them for one of my houses. They were all happy about moving in and that I was their landlord again so much so that they pre-invited me to their house warming party.

Now here’s where I draw the line. They’re great tenants but I don’t want to be so involved with their personal lives that I’m looked on as a friend. The reason being that if everything goes pear-shaped, I may be in a position of evicting a friend.

Needless to say that I never want to be in that position so this is how I will handle the housewarming invitation; I will respectfully decline the invitation but I will send a nice bouquet of flowers (the tenants are three girls) with a card saying, “Welcome back!”

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This entry was posted on Sunday, August 3rd, 2008 at 2:28 pm and is filed under Landlord/Tenant. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

There are currently 5 responses to “Landlord Ethics”

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  1. 1 On August 3rd, 2008, Clifford said:

    Bruce, you hit the nail right on the head.

    The last thing a landlord wants or needs is to be friends with their tenants. This has a way of clouding judgement.

    You did the right thing and sprinkled it with some class. Sending flowers is a nice touch.

  2. 2 On August 3rd, 2008, admin said:

    Thanks for your very kind comment Cliff. :)

  3. 3 On August 3rd, 2008, The Rich Slumlord said:

    I had a similar experience in the past whereby a tenant that doubled as my handyman for several of my homes insisted that I come to his BBQ. To make a long story short, I did show up and over the next few months, he started to get late on paying rent up to the point that I had to evict him. I think it all started from that BBQ whereby he considered me a friend + employer and NOT a landlord…

  4. 4 On August 18th, 2008, Larry said:

    I could not agree more. Never get chummy with the tenants because they will think that you are family and start to be late on the rent. Business is business. I have this saying, “No one will ever care more about your money than you.” I remember that when the mortgage is due and the tenants pay thier rent on time, things run smoothly.” Tenants could care less about your financial plight if you let them slack on the rent for any reasons…

  5. 5 On August 28th, 2008, Murfreesboro Townhomes said:

    “Bruce, you hit the nail right on the head.

    The last thing a landlord wants or needs is to be friends with their tenants. This has a way of clouding judgement.

    You did the right thing and sprinkled it with some class. Sending flowers is a nice touch.”

    I agree, I also believe you should not be friends with your employees, when someone is friends with someone with power they expect more out of that friend. I say keep business business and personal personal.

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