We recently had a client ask what we thought was the toughest part of our jobs as Realtors. Both of us paused for a moment, and almost simultaneously said “Having to ask a person to move, or evicting a tenant.”
At Terrace, we own and manage over 400 residential rental properties on the Mid-Peninsula. We feel property management is one of the most misunderstood and difficult aspects to a career in real estate. Property management involves a very specific set of business skills and also interacting with people on a very personal level.
Most of the time tenants are wonderful, hardworking people and our landlord/tenant relationships are great. But occasionally there are issues that lead to conflicts between the property manager and the tenant. Usually, these involve payment of rent or property maintenance.
When we first meet with a prospective tenant and are getting acquainted we tell people that there are basically three things we expect from them. First, pay your rent on time. Secondly, get along with your neighbors. And finally, be neat and clean. If they do those three things we will have a very good relationship. When we are forced to give someone a 60-day notice to vacate, it is usually due to a violation of one of these three items.
Understandably, emotions can run high in these problem situations. Often tenants are disgruntled and can get very angry. Situations get personal when they shouldn’t be. Tenants need to understand that owning real estate and renting it is a business and the owners have large sums of money invested in the property. At the same time, the place tenants call home is very personal and important to them.
Asking people to move, or making monthly rent cost adjustments, are certainly a couple of the toughest parts of the property management aspect of our real estate business. Believe us when we say we really do not look forward to having to evict anyone. Fortunately, most of our property management duties are reasonable and stress free, and there are many enjoyable and satisfying aspects to that part of our real estate profession.