Thanks to BP podcast!
The Biggerpockets community is unbelievable. Never before have I met a group of people so willing to share their “Secrets”, advice, and opinions (without sounding condescending) openly. The site not only motivates me to help others, but also restores my faith in humanity. My favorite part is the podcast.That podcast has helped me get through many shifts.
The podcast recently led me to Mike Butler’s book Landlording on Auto Pilot.This leads me to the reason for this post.
I’m sure most of you know we had an extreme winter in Wisconsin this year. One of my tenants, my very first tenant, complained to me about the heating costs in February. As politely as possible, I explained the winter had been very costly for everybody. I explained a couple options; she could do rugs on the hardwood floors, plastic on the windows, etc.
I must have caught her on a really bad day.Her response was less than favorable. Seriously, she let me have it.Mind you this tenant is a very strong person, very educated, and excellent in her field.Previously, she had even discussed buying the house from me. After she “vented” all over me via text message, I just let it be. She was mad, very mad.But her text message did not ask any questions so I did not respond to it.
The very next month I hired a PM for a different property. Just to test the waters. I considered putting the first tenant under PM as well, but we are still in the trial period for the PM.
I read Mike’s book. He says after 36 consecutive months he gives the tenant a free month of rent. My tenant has been with me since the start; four years.She was never late with the rent.
I stole this idea from Butler. I sent her a letter stating how great of a tenant she was and that the winter was hard on everyone. I told her I wished I could help more. I sent her a coupon for one free month’s rent to use whenever she wanted. She could save it for the cold winter if she’d like to…it didn’t matter, whenever she wants.
The text response I received was unbelievable. In fact, in all honesty, I have a very trying job. Several times, I have looked at her response just for a “Pick me up”. That’s how good it was.
From laughs, to strategies, to laws, to just getting perspective on any of our concepts, Biggerpockets has created a very nice resource and community. Thanks for everything!
Dave Burkart