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4 signs you have a good tenant

by Sam Perren

300 words (1.5 minute read)

Originally Published: 2013-11-04

 
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I visited the tenants from my newest purchase earlier this summer for the first time since they moved in. I was there to remind them about the strata Bylaws (Neighbors weren’t happy about a car repair that left a fluid stain running down the parking lot).

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I expected an unpleasant meeting, and it turned out….

 

…to my surprise, very positive.

They told me the stain would be corrected/cleaned within 24 hours. They also proudly showed me a kitchen tap they replaced, the back yard all cleaned up, and a broken kitchen drawer they would take care of. They had also dealt with getting new blinds, an ant problem, and cleaned out basement reno leftovers I had left behind this summer.

Issues like this are normal after a purchase until the property is “normalized,” and it was sure a nice surprise to learn that I did not have to deal with it.

This led my thinking into a gratitude rant of ways you know you have great tenants:

  • they pay higher than market rent
  • they fix their own minor problems
  • they say thank you when you collect rent
  • they make the yard look better then when they moved in

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Before

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After

This situation proves to me how important proper screening and relationship building are at the beginning of a tenancy. It just makes all the rest soooo much better.

I will talk more about screening and relationship building in a future post, if you remind me!

Until next time,

About the author: Sam Perren has helped dozens of investment partners aquire real estate, representing over $16Million CAD in purchases with rental income of over $100,000/mo. If you'd like access to Sam's "deal of the week" please click here.