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May 2024 - The Money Machine - Relationships

May 2024 - The Money Machine - Relationships

There is a restaurant I go to once every week or so for a bit of lunch. It’s a handy place to meet a client or friend. And it’s very affordable. Soup and a sandwich for each of two people generally with tax comes in at around $27.00. Always less than $30.00. And I always leave a $10.00 tip. I do it because these kids work hard. Every bit as hard as if they were working in a high-end restaurant where the bill would come in at over $200 and they would get a tip in the area of $40. So, yeah, $10 instead of the customary $5 or $6. And as a by product, I’m always treated like a king. For what? $4 or $5?
 
Sometimes we forget in our day to day lives that the people we deal with as service providers aren’t just robots. They are people. And as such going the extra mile can pay high dividends.
 
Recently I came across a landlord, tenant chat forum which I took a few minutes to read. I couldn’t believe some of the stuff I was seeing. Of course, there were a lot of legitimate questions being asked both by tenants and by landlords. Mostly in connection with enforcing the provision of the Residential Tenancies Act. But as I read, I came across what I felt was a lot of very unreasonable people. One tenant said her landlord came into her unit to inspect for a water leak. He gave her notice but she wanted to know if she could charge him with trespassing and was she entitled to compensation? Another tenant who said he moved out without giving the landlord notice and how could he get back his last month’s rent which was held by the landlord. I just thanked the lord that these weren’t my tenants. But it wasn’t just tenants. One landlord complained that he had a tenant who every month made partial payments on the first and the balance a few days later. He wanted to know the best way to begin an eviction process. Good grief. Keep in mind these people for the most part live pay cheque to pay cheque. The rent is being paid. They aren’t falling behind. Work with them.
 
Of course, there are rules that need to be set and enforced. I had a tenant who would use the laundry room as a storage closet. I can’t have that. The place has to be neat and tidy for everyone. So, enforce the rules. But be human about it. I have a tenant who has been with me for probably 12 years or so. She’s a single mom. Over the years she has fallen behind on the rent a few times then works at catching up. She tries her best. I give her a nudge from time to time when the rent is late. But I do it in such a way that we continue to maintain a good relationship. In fact, she and her mother baked me a cake for my last birthday.
 
I’ve got another tenant, husband, wife and growing family, 2 or 3 kids. They struggle to pay the rent on time, but it’s always paid. There is no garage on the property. Just a small shed. I’m building a larger outbuilding for them to handle all the yard furniture, toys, lawnmower, etc. I don’t have to. It won’t generate me any more rent. But the other day I needed to access their unit to shut off the water so work could be done on the upstairs apartment. I don’t have to worry about claims of trespassing.
 
I guess what I am saying is people need to be reasonable and understanding. Both tenants and landlords. And rather than enforcing your rights be prepared to go the extra mile. Give a little. Don’t tip $4, tip $10. And when you’ve got great tenants, treat them like gold. Chances are they will react in kind.