Subject: Getting To Know You

WILMOTH Updates
A quick update for residential investors and owners from WILMOTH Group.  Providing creative solutions, strategy, services and support in the residential investment community. 
Why Can't We Be Friends?

It is a great characteristic to want to make friends.  We want to be liked and basically we are all social animals.  Otherwise, addictions like Facebook and Instagram would have failed with a thud.  So, human nature is only normal that we like to like our business partners.

So, before I go on, let me clarify that this is not my request that you like me or our company.  I hope you do and hope you tell others.  But not my rant for this month...LOL.

How do you feel about being friends with your tenants?

The Landlord-Tenant Relationship

I appreciate that you may believe that if you get to know your tenant, and they like you, that they will treat your property with an added degree of respect.  Or that you just want to know more personally about your tenant.  If you feel really strong about that, I have some advise.  

You are going to waste your money on a property manager. 

Property management exists to take the burden off the owner of maintaining a personal relationship with their tenant.  It creates a wall that keeps everything on a business level..not personal.  This can help when the tenant starts asking for a new stove, needs more hot water, or eventually incurs a late fee.  

If a lease violation occurs (say a pet that is moved into your home) management keeps the owner out of the tenant behavior modification that must ensue.  Do you really want to pick up your phone to hear the stories about broken down cars and sick children that the tenants offer when they can't pay their rent on time?  These are just some of the ways your property manager spends their time for their monthly fee.

If you become friends, or even acquaintances with your tenants, guess who they are going to bypass with all of this?  And your manager still gets paid while you are now front and center with the tenant.

Is it really worth it to you to have a such a good relationship with your tenant that they can contact you with these issues..and more?

Why This Matters?

In the last couple of months we have encountered a couple owners and a few potential clients wishing to meet their tenants.  I understand it is your property.  You should make the decision as to what is best for your  tenants.  

It just makes our job very ineffective.  

In the best case, the owner will become the go-between.  The tenants will no longer contact the manager if they know how to contact the owner.  In the worst case, we will be told one thing by the tenant only to have the owner state they never committed to it.  As Manager we are left to figure out how to fix the tatterred tenant or owner relationship.  The risks are high.  

Judges have made rulings that give tenants extra time to make payments after the tenant shows that they communicated with an owner and were told something directly.  Even if the tenant statement is not true or misunderstood. 

Frankly, the owner creating a relationship with the tenant is an unmanageable situation.  Avoiding it is also one of the primary reasons you likely decided you needed a property manager.  

One Solution

Some owners just want to be able to go and inspect their property.  Fair enough.  We recommend allowing us to schedule an inspection.  The tenant is informed that we are bringing in an appraiser or inspector.  We do not divulge that our partner is the owner and we advise the owner to not get involved in significant dialogue with the tenant.  

I still seriously caution you not to even be tempted to inspect the property while occupied.  We will send you a report.  It is inevitable, particularly if the rental is your former home, that you will be unhappy with the way a tenant is living in your home.  You may give away that you care more than a typical appraiser.

When it comes to customer relationships, this is one that you really do not need. 
   Yours Truly

   Joel Wilmoth
   WILMOTH Group



"Indoors or out, no one relaxes in March, that month of wind and taxes. The wind will presently disappear, the taxes last us all the year."

Ogden Nash

Can You Help Us Please?

Reviews of businesses on social media matter.  

Social media reviews are an equal access opportunity.  Tenants love to write poor reviews of property managers.  Owners are busy being investors and reviews of their manager is pretty low on their priority list. 

If you appreciate what WILMOTH does for you, we would be very gracious to receive your 5-star review on Google.  It will take you 30 seconds to help us offset some poor tenant comments that are hurting our rating.  

Here is how to get started.  Use your Google account and visit us by clicking the button below.  If you are not sure how to add a rating or review, read here  the instructions from Google. 

From all of us at WILMOTH Group- we say a big collective THANKS!!
Electronic Payments
At WILMOTH, our tenants pay their rent electronically. This speeds up the processing of your cash by at least three business days! We electronic ACH payments to our owners!
Get In Touch!
Questions?  Own a property that is just not performing?  Ready to increase your portfolio?  Or just want to discuss anything?  Let us know and we will get right back to you!

WILMOTH Group
Residential Real Estate
Investment Brokerage | Management | Property Services
WILMOTH Group, 9855 Crosspoint Blvd. Suite 148, Indianapolis, Indiana 46256, United States
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