Yesterday Stephanie and I met with our new tenants for one of our investment properties in Philadelphia. It was a little unusual for these tenants sublet from our prior tenants so we met to go over a new lease.
The people we met were so nice, courteous and friendly. We took a tour of the property and were amazed. It was in better condition than when the first tenants moved in. They were very neat and painted some of the walls very nice colors. The property almost looked staged in a way as if we were putting it on the market !!
I left the meeting with a feeling of pride. It certainly feels great to be able to provide quality housing to great people. I think that is one of the intangible benefits that investors forget about. Investors are always crunching the numbers, looking at the cash flow analysis and their own wallets per se as what to fix up now versus later and so forth.
It is important though to not forget what we are really doing - providing housing ! The bottom line is that the better product that is provided, the better quality of tenant you will have - and potentially a higher rent amount as well. Which is why we are always attentive to our tenant's needs as well as the properties' needs too !
By the way, this is an excellent time in this market to acquire an investment property or two (or three) in our Philadelphia marketplace.