Did You Hear About the Landlord That Left Everything to Her Tenants?

I recently read a story about an elderly woman who became a Landlord late in life. After the death of her husband, she lived alone in a large house with more space than she needed, so she decided to rent out the downstairs.  Building a strong tenant landlord relationship is so important when renting to long term tenants, here is what happened. 

Her Tenant for many years was a single mother and her teenage daughter. As the Landlord aged and became sick, the Tenant helped care for her and keep her company. Unfortunately, her two sons made no effort to visit or check on their mother. 

In her will, the Landlord left everything to the Tenant. This included the house, which was worth around $500,000, and a checking account where all rent payments had been held and earmarked for the college tuition of the Tenant’s teenage daughter. 

It’s a touching story. And, after years of working with thousands of Landlords, it doesn’t surprise me at all. 

The Reality of Landlord-Tenant Relationships

As a group, Landlords often get a bad rap. And I get it, there are certainly bad actors out there – Landlords that don’t take care of their property or respect their Tenants. 

That said, in my experience in the rental industry, I’ve come across more Landlords like the one in this story than the ones I often read about in headlines. There are a lot of small, mom-and-pop Landlords that take pride in providing a quality home for Tenants, respect their Tenants, and only take adverse actions when absolutely necessary. 

While that’s true, the reality is that sometimes Landlords have to be the “bad guy.” After all, Landlording is first and foremost a business, and Landlords have bills they have to pay too. This means they have no choice but to ensure that rent payments are consistently paid, their rental property is kept in good condition, and their Tenants don’t interfere with the neighbors’ enjoyment of their home. 

Being a Pro Landlord

This is just one of the reasons it’s not always easy to be a Landlord. But, after doing it for decades, I’ve found it both financially and personally rewarding. 

Over the years, I’ve learned that the best way to get the most out of my role as a Landlord is to: 

1. Take the time to thoroughly screen all potential Tenants. 
2. Use a thorough Lease Agreement that clearly explains all Landlord and Tenant responsibilities and all property rules and regulations. 
3. Create systems for consistent communication with Tenants and stay informed about any issues that arise with the property or my Tenants. 

If you’re a new Landlord or considering becoming a Landlord, I’d love to help you out! 

Connect with me on social media or visit my business site, ezLandlordForms.com. We can help you get started with Tenant Screening, customize a Lease Agreement, or answer any Landlording questions you have!