There are many times we can say, “If only I had…” and we might follow that with “enough money” or “enough time” or “more” of whatever it is we want (or in some case, “less” of whatever it is we don’t want.
Well, if I had the money, I’d buy a place in Rancho Cucamonga. Not to live, but to make it the finest Rancho Cucamonga home for rent available. My theory on renting a house to someone is to be the best landlord they could hope to have, make rents a little cheaper than they would expect, and treat them like people, not like bill-payers.
First, my Rancho Cucamonga home for rent would have nice countertops. I want my tenants to walk in and think, “Wow, this is unique.” But also, the advantage this creates is that it shows them we care about the property, so they should, too. It also is a continual reminder that this home is better than the alternatives, if they might think about moving when their lease is up.
Second, landlords often look at the short-term instead of the long-term. The bottom line, especially for my Rancho Cucamonga home for rent, is that it is more valuable to have a tenant in for a long time paying below market rates than it is to push the envelope and charge high rates at all. If we charge market rate of what just reached $1500 for 12 months, but then they move out at the end of one year, we’ll have at least-if we’re lucky-one vacant month with a gap of $1500, plus the need to drop in new carpet, new paint, etc. If we charge $1400 and have one of the cheaper Rancho Cucamonga homes for rent, then after one year, we’re only shy $1200 and have incredibly loyal tenants with no needs for about $3,000 in maintenance.
Third, there tends to be a gap between the tenants and the landlords. Remember back to when you were renting somewhere and how you felt when rent was due. If you felt annoyed or even spiteful, then you probably weren’t long for the place and if so, you probably didn’t treat it well. My tenants in my Rancho Cucamonga home for rent would probably get flowers on their birthday and maybe $100 off at Christmas or other little niceties that they’d remember if and when they were thinking of moving.
You can’t stop every tenant from leaving, but if I had the money, I’d get that Rancho Cucamonga home for rent and rent it well!