One of the FEW terms that the real estate industry has NOT stolen from "landlording"  * like "shadow inventory" and "cash for keys" * is the HAPPY CLAUSE.

It is really NOT a CLAUSE, it is a way to make EVERYONE HAPPY!!!.  Many older landlords have used this for years as a way to get PITA * pain in the ass * tenants out of their properties and it goes like this

She loves the house, he's OK with it, they move in and they are BOTH unhappy.  They start to nit-pik everything that is or COULD be wrong with the home * including the icemaker being too noisy!  Soon the landlord realizes that these tenants will be PITAS for the balance of their lease and * depending on the time of the year * offering them the option of getting out of their lease may be in everyone's BEST interest.....so to make everyone HAPPY, you offer to let them out of their lease by Xdate and they need to let you know by noon on Yday.


I did this this weekend.  My Google Alert worked and let me know that I had a "review" on my Google business page and when I read it I knew that it was from an incoming resident who was ALREADY UNHAPPY with me.  I was not allowing his family entry into the home they had rented 10 DAYS IN ADVANCE OF THEIR MOVE IN DATE and he did not like my attitude or management style.  After thinking about this and spending an hour in the home with my repairman last Saturday, I really wanted to have some wallpaper removed, new carpet installed and the home freshened up.  Rushing to make these incoming residents HAPPY was not in the best interest of my clients......so I e-mailed the incoming residents and offered to return their deposit and cancel the lease and they took my up on my offer.

In his e-mail "acceptance" of my offer, he surmised that I had re-thought my treatment of him and my offer was an admission that I had behaved unprofessionally.  My response was that THAT was not the case.....as I was acting in the best interest of my client, the property owner, and that by allowing them to not move in, I could upgrade the property in time to get MORE rent for my clients who hold the property as a long term investment.....


As of this morning, I've had extra keys made, taken the property floor plans and keys to my carpet firm * they know the carpet I want installed and that I want a bound runner on the hardwood stairs * stopped the repairman from making this home a "make-ready" priority, advised him he can start to strip the wallpaper and pressure wash the exterior as time allows AND I've re-listed the property on my website for $100/mo MORE in rent!!!  I'm VERY HAPPY!!!

 

Wallace S. Gibson, CPM * GIBSON MANAGEMENT GROUP, Ltd.

LandlordWhisperer

View our available Charlottesville, Albemarle and Lake Monticello rental homes online with photos and floor plans


"...to be a Virginian, either by Birth, Marriage, Adoption, or even on one's Mother's side, is an Introduction to any State in the Union, a Passport to any Foreign Country, and a Benediction from the Almighty God...." Anonymous

 

 
This post has been included in Virginia Real Estate News Albemarle County, VA Real Estate News Charlottesville, VA Real Estate News
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9 Comments on I envoked my HAPPY CLAUSE this weekend!!! Now I'm VERY HAPPY!!!

JUN
22
2010
404,985 Points 15 Featured Posts Localism Sponsor Outside Blog Hit Router Called Shot Master

Great post Wallace. The perfect time to get rid of bad tenants is before they move in. You probably saved yourself and client a lot of grief.
6:29am • #1
1,450,230 Points 46 Featured Posts Outside Blog Called Shot Master

Wallace, Property Management is a difficult job. You do a great job for your clients.
6:34am • #2
361,801 Points 5 Featured Posts Attended Rain Camp Called Shot Master

Some folks you just can not make Happy. A bad start usually makes a bad ending. Good going looking out for the best interest of your clients.
6:35am • #3
982,517 Points 79 Featured Posts Called Shot Master

Wallace, I admire you for what you did this weekend.............this is a great post to share with everyone................we don't have to deal with those PITA's...............I've known that for a long time.

I think it's quite humorous how the client perceived your e-mail to him............but not surprised at all.  This definitely worked to your advantage.
8:11am • #4
868,446 Points 5 Featured Posts

It is often difficult to get residential tenants to move, particularly in Ontario where you requitre a justifiable reason.

However, money is a motivator, but many people don't think about it.
8:12am • #5
643,306 Points 111 Featured Posts Outside Blog Called Shot Master

Wallace this is so true.  I'd much rather pass on the bad tenant and hold out for the good tenant even if it does take a bit longer to fill the vacancy.
8:42am • #6
982,517 Points 79 Featured Posts Called Shot Master

I re-blogged your post Wallace and posted it in different groups, I think EVERYONE should read this and be reminded we DO have a choice.
10:12am • #7
1,021,027 Points 65 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Thank you Roger * yes, choices are an important part of this job...it's NICE to have a do-over
4:48pm • #8
JUN
23
2010

Wallace,

It's called cutting them off at the pass. Good for you.
12:14am • #9

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Wallace S. Gibson CPM *

LandlordWhisperer

Charlottesville, VA

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Gibson Management Group, Ltd.

Office Phone: (434) 825-1933

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