The 8 Things I Want Every Tenant to Know

2 min read
Kevin Perk

Kevin Perk is a full-time buy and hold and fix and flip real estate investor with over 15 years of experience. He and his wife Terron operate Kevron Properties, LLC, a boutique real estate investing company in Memphis, Tenn.

Experience
Kevin was a past president and is a current board member of the Memphis Investors Group. He’s also a blogger and writer who has authored hundreds of real estate investing articles on BiggerPockets and his own blog, SmarterLandlording.com, some of which have been featured on The Motley Fool and MONEY: Personal Finance News & Advice.

Kevin is also host of the SmarterLandlording podcast.

Originally from the Washington D.C. area, Kevin moved to Memphis to attend graduate school at The University of Memphis. After receiving his master’s degree in City and Regional Planning, Kevin climbed the planning career ladder to eventually become planning director of a county in the Memphis metro area. He “retired” from planning in 2003 to pursue real estate investing full-time.

Since “retiring,” Kevin’s main real estate investment strategy has been to buy and hold, otherwise known as landlording. Generally working in historic Midtown Memphis, Kevin is also known to fix and flip grand, historic homes when the right opportunity presents itself. He and his wife Terron (who is the principal broker at Perk Realty) have participated in dozens of real estate transactions in the Memphis metro area.

Kevin has the heart of a teacher and believes in helping others through education. An instructor of college-level geography for over 25 years, Kevin also regularly participates in seminars and panel discussions at such forums as the Memphis Investor’s Group and the Single-Family Rental Summit.

In addition, Kevin has been interviewed in publications such as the Memphis Commercial Appeal, the Memphis Daily News, and the Foreclosure News Report.

Education
Kevin earned a master’s in City and Regional Planning from The University of Memphis.

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Tenants come with differing backgrounds and life experiences.

Some have been renters for years and know the drill. For others, it may be the first time away from mom and dad and out on their own. No matter what their renting experience may be, here are some things that I want every tenant to know.

1. You Need Renter’s Insurance

Tenants should understand that bad things happen and that the landord’s insurance policy will not cover their loses. Renter’s insurance is cheap and well worth the money.

Related: Should You Put Your Rental Properties in an LLC?

2. I Have Bills to Pay, Too

The way I pay those bills is with the rent you pay me. I have heard all of your sob stories and unfortunately there is nothing I can say to the bank that will get them to cut me a break. So I am sorry if I seem like a hard ass, but your rent is due when your rent is due.

3. I Am Not Going to Try and Take Advantage of You

It is not in my best interest to do so. I want a long and uneventful landlord/tenant relationship because turnover kills my bottom line. I will not get that if I am constantly trying to get one over on you. If you treat me and my property with respect I will do the same to you.

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4. Do Not Wait Until the Last Minute to Tell Me Something Needs to be Repaired

My repair people like to have weeks-ends off as well. If you wait until Friday afternoon to tell me your air conditioning is out, guess what you are not likely to have this week-end.

5. I Will Fix Things, So Please Call Me!

It is in my best interest to fix things and keep my property maintained. Little repairs if left alone will eventually add up to big repairs and big money. I don’t like to spend big money.   So call me about the little things. I will repair them.

6. Your Neighbors Do Not Like Your Loud Music Either

Remember when you complained to me about your neighbor’s loud music? It is a two way street.

Related: What Are Your House Rules?

7. Some Problems Are Just Hard to Fix

They take time and thus may not get repaired right away. We may have to wait on a part. We may have to diagnose and trouble shoot for a few days. It may seem like we are doing nothing, but we really are trying to fix the problem. Be patient.

contractor

8. Mess Leads to More Mess

Those bugs you called to complain about, well I went by to take a look and noticed the overflowing trash can and pile of dirty dishes in the sink. Let’s try cleaning that up first and then we will talk about the bug problem.

Like I said, tenants come with a myriad of experiences behind them. Some are timid and shy and don’t want to make a fuss. Others have been screwed by a previous landlord. Some have just never been out in the real world and not had mommy to clean up after them. As a landlord, you will run across all kinds. No matter what kind you rent to, make sure they get the above list.

[Editor’s Note: We are republishing this article to help all of the landlords who found our site more recently.]

So what is on your list?

Be sure to leave your comments below!