Real Estate Investor · Minneapolis, MN · Member since 2017 · 164 posts · 30 votes
I've been hearing about 50/50 on letting your tenants know you own the property versus saying you just manage it. Seems like it comes down to you not "being the bad guy" so that's why some chose to just play their role down.
What do you do, and why?
Real Estate Broker · Indianapolis, IN · Member since 2014 · 3k+ posts · 2k+ votes
9y
We've let our tenants know that we're the owners but that we have mortgages to pay just like they have bills in the past. Maybe we got lucky? But it worked out great for us. I find that Real Estate is a "people business" but it's not a charity. We set proper expectations, outline the consequences of actions, and enforce them.
I think the folks who can't set, establish, and enforce boundaries are the ones who should just hire out mangement. My wife's grandparents were "generous" landlords and hated Real Estate. I sold their property to a fellow BP member who has had great luck with it.