There are times when I need to put up my A game and really do something about my real estate "imperium". This can mean that a fuse blows up, tenant moves out or the tap is leaking. Some times the A game means to suit up and meet potential tenants, sell myself as a landlord and sell my apartment. Sometimes it can mean that I help my tenant to move or pick up my toolbox and fix things up.
It is crucial to react as fast as possible but I cannot always be waiting 24/7 to react for a call or a message, fearing for the worst case scenario or reply for a potential tenant. The best way to be prepared is that I inform my tenant about different scenarios that can occur and give them a guidebook of sorts so they know what to do in different situations. If the tap is leaking I want to know about it but I am not a plumber. So the first thing to do would be to call a plumber and then keep me informed. If my tenant is about to move I want to know it yesterday to improve my odds to avoid empty days or months.
It is crucial to react as fast as possible but I cannot always be waiting 24/7 to react for a call or a message, fearing for the worst case scenario or reply for a potential tenant. The best way to be prepared is that I inform my tenant about different scenarios that can occur and give them a guidebook of sorts so they know what to do in different situations. If the tap is leaking I want to know about it but I am not a plumber. So the first thing to do would be to call a plumber and then keep me informed. If my tenant is about to move I want to know it yesterday to improve my odds to avoid empty days or months.
Just a couple of weeks ago one of my tenants informed me that a fuse had broken. I knew that this apartment had just been renovated and it has easy automatic, light-switch-like, fuses. I answered in about 15 minutes. Only the fuse in the kitchen had gone down and my tenant had solved the fridge-freezer power-out by bringing a cord from another room. So no freezer melting problems. In an hour the whole problem was solved, it needed a couple of messages and a phone call.
Quick response can mean a lot but I would say that it cannot be a necessity. I pretty much always carry my smartphone with me so reaction time is not an issue. If there is a powerout or a leaking tap, those are situations when the landlord needs to react as soon as possible, it is a damage control of sorts. The freezer can melt and ruin the floor, the bathroom can flood and ruin the whole apartment, etc. You do not have to be a 24/7 landlord but it is good to be able to react fast if needed.
It is bad not to answer at all. Quite the same is if your tenant contacts you with every little thing and you ALWAYS answer within the first minute or so. Well what if one time you can't? There can be panic and/or huuuge DIY mistakes. Speed can be a huge asset but it can also be a nuisance. I know that my answering times are not seconds or just minutes but perhaps my DIY attitude is my greatest weakness. Yes I have learnt a lot but it also takes a lot of time and effort.
It is bad not to answer at all. Quite the same is if your tenant contacts you with every little thing and you ALWAYS answer within the first minute or so. Well what if one time you can't? There can be panic and/or huuuge DIY mistakes. Speed can be a huge asset but it can also be a nuisance. I know that my answering times are not seconds or just minutes but perhaps my DIY attitude is my greatest weakness. Yes I have learnt a lot but it also takes a lot of time and effort.
Am I a landLORD? Yes, but I would prefer myself as The renterKING. Always ready to react and make hard decisions and ready to go to war: the best deals and the best tenants are mine. I do what it takes to be the best.
"I don't believe your dull reaction, what we need is a call to action!"
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