My tenant has been in rental for 2 weeks. She let me know that the washer standpipe was overflowing some when she did wash. I draino’d the drain and ran the washer. Didn’t get any leakage. The next day she let me know it was leaking again. Got a plumber to snake the drain line and clear it out. All good now. The tenant seems like she’ll be great. My question is...should I take some money of this months rent due to her not being able to do wash? My gut feeling is yes but I don’t want to set a precedent...
NO WAY! You fixed the problem in an acceptable amount of time. If she was a day late with her rent, but still within the grace period, would she pay you a little extra?
@Justin Seng no of course not. You may want a PM if that’s how you think
No don’t change rents. As long as the maintenance was taken care of within a reasonable time frame and complied with landlord laws then you should never lower the rent or take partial payments.
Absolutely not. If the furnace breaks during the winter and she needs to stay with family for a week that's a different story.
My mortgage company doesn't reduce my mortgage payment when something fails. You shouldn't either. The only time a Landlord should reduce rent is if they screw up and fail to deal with a problem in a timely manner.
This is an especially odd question because it's only one drain for the laundry which means it was a very, very minor inconvenience for a very, very short period of time.
Let's say your property rents for $1,000 a month or $33 a day. Laundry makes up about 5% of the home's function but let's pretend it equals 10% of the total value. She still had 90% functionality because she can use the fridge, stove, sinks, toilets, showers, bedrooms, doors, windows, yard, etc.
Daily value: $33
10% of daily value $3.30
Two days loss: $6.60
Keep in mind, I'm being extremely generous.
Stop listening to your gut. When your gut starts telling you how to operate your business take a couple of Tums.
@Justin Seng you need to have the mentality that 99 percent of all reasons tenants give you for not paying rent or paying late aren’t valid. If you can’t understand that I think you should get a PM.
That isn’t meant to sound harsh it’s just the reality of this stuff. Give an inch they’ll take a mile
@Nathan G. Thanks. Makes sense!
Hell no...... this was a minor issue that was quickly addressed. Not a chance in hell....
Do it this time and you just set yourself up for expecting rent reductions for every tiny thing.
If an issue comes up that affects habitability for a decent amount of time, then we can talk...... if you want to reduce rent for every time that the unit isn't perfect, you are setting yourself up for failure
@Ned J. Thanks for the advice. Sounds like everyone agrees.
I agree with everyone else. I wouldn't drop the rents. In fact I have all of my properties in trusts which makes my residents a part owner in the property and they are required to take care of all the upkeep and repairs on the property. With giving ownership rights to my residents, I'm able to charge $500 to $600 more than fair market rents and I don't have any of the landlord headaches.