Looking Inside Your Tenant's Mind
Basic Mind-Reading Report 101 for Landlords
It goes without saying but I will say it anyway. The better you understand your tenants and their personal situation, the better you can serve their needs and your own. Notice that your needs come after your tenants. Always put your tenants' needs before your own and they will buy real estate for you in return. That's a fair trade. Take it!
Many cold-hearted, self-serving, money-grudging, wanna-be landlords don't understand human nature. Let me tell you right now, if you can't put yourself in another person's shoes and see a problem from that person's perspective with empathy, you will fail miserably in the "landlording" Business and in life. Wise up!
Fear not. If your not quite sure what I'm talking about, here come the stories and details of how to be loved and adored by those kind people called tenants.
Let me first dispel the horror stories about landlording. If you follow my advice and teachings, you should have very few tales of woe to tell. You've heard the stories and they sound like this: Those damn lowlife tenants. They trashed our house, they disturbed the neighbors, they ruined our lawn, they were filthy pigs who never paid the rent on time, they never did what we told them to do and it cost us a fortune to get rid of them and repair our investment once they finally did move.
Well, guess whose fault that is. Yep, it is completely and unequivocally the fault of the so-called person that is calling themselves a landlord. The real name for this type of so-called landlord is uneducated dummy and because of these lazy fools the whole industry gets a bad rap!
There is a plus side to the scenario above and that is this: It sets up a perfect opportunity for you to do the exact opposite of the fools and create for yourself an unlimited market supply of excellent trouble-free tenants for life!
Tenants, believe it or not, are human beings. They are not animals or things to be mistreated, abused or taken advantage of. If you will prepare your rentals as if your mother was going to be moving in, your mindset would be realigned in short order. In effect, you will start looking at it from a compassionate point of view. You will not cut corners. You won't let things go that need fixing. You will use more care, skill and diligence in preparing that dwelling for another decent human being to begin calling Home. That's what you want to achieve.
You want to provide a trouble-free, pleasurable, aesthetically pleasing, creature comfortable, needs fulfilling, safe, secure, affordable and convenient place to live. When you provide those things and screen the population, it's like striking gold.
The process of getting good tenants begins in your mind. By that, I mean you have to educate yourself to be able to recognize value and acquire properties that are structurally sound, aesthetically pleasing, physically functional and provide safety, security, affordability, convenience and a feeling of pride in your tenant's mind.
Sounds like a daunting task, doesn't it? Well it's not. In fact it is so simple to achieve that once you understand the process you won't even have to think about it. It will come naturally to you. I promise you that this is true and I intend to prove it to you as well.
I absolutely guarantee that you can do it. So for now, just take my word for it as being a fact, because it is. Here's an example of using a motto to align your thought process in relation to all the things I just said. Repeat the following:
Landlord's Creed
I vow never to rent to someone else, something that I myself would not be happy living in.
Mansions not included!
Now apply that to every prospective property that you evaluate as a potential rental property investment. Human nature is immutable. We all have basic needs, wants, desires and expectations that include fear. When you remove fear and provide comfort and security, you will own your market.
So what you first have to do before you can be a great landlord is
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