In these tough economic times, adding rental income can mean the difference between sinking beneath debt, or surviving as a home owner. This article explains five ways to make the transition from owner to landlord a smooth and enjoyable experience. After all, there’s no place like home, and ensuring a mutually happy home environment is in everyone’s best interest.
1.
You’re Not In Kansas Anymore.
Dorothy from the Wizard of Oz only had to click her heels together and repeat,
“There’s no place like home,” in order to be transported back to her safe and
welcoming environment. For the home owner who has decided to rent a room in
their home, what once was their secure, stable and private retreat has become a
“shared space,” where both the owners and renters needs should be considered.
The most important way to ensure a happy relationship with your renter is to make sure you understand their specific
needs.
Ask
them:
1. Schedule:
What are your sleeping hours? When will you be using the kitchen?
2. Pets:
Will you be bringing a pet (s)? If so, describe their behaviors and routine.
3. Visitors:
Will you be having regular visitors? If so, who, and how much will they be
staying over?
4. Children
and grandchildren: Will they be visiting? If so, how regularly, and what are
their ages?
5. Are
you interested in sharing housework? Yard work? Gardening?
6. Do
you play a musical instrument, or do you play a stereo?
7. Do
you vacation away from home, or stay with others regularly?
8. What
have roommates done in the past that was difficult for you?
9. What
would you like me to know about you?
2 There Is No Wicked Witch Here. Some
landlords fall into the habit of being the “bad guy,” or the “enforcer,” or the
“heavy” when their renter is acting irresponsibly. Realize it is not your job
to police your renter, nor is it your job to clean up after them, monitor their
activities, or remind them about their chores. Instead, gently but firmly
request a house meeting with them when there are issues to address, and do so
with an open agenda. Saying, “I’d like to meet and discuss a few household
items…I was wondering if you could also give it some thought, and we’ll put our
heads together at the meeting and find some solutions that will work for both
of us.” The purpose of a household meeting should be to clarify any
difficulties; NOT to confront the person. Stick to clarifying the issue at hand
and avoid “blaming” or pointing out character flaws. Nobody likes to be
confronted!
3
There Is No Fairy Godmother Here. Other
landlords take the “motherly” approach, so they can nurture and care-take for
their renters. If as a landlord you are staying out of your renter’s personal
lives and still able to render them kindnesses, that is wonderful. You will
make an extraordinary landlord! However, it is easy to fall into the trap of
overly-caring for your renters and becoming entangled in their personal lives.
Once this happens, the decisions your renter makes can easily be taken
personally, and resentments can grow from these entangled relationships. Remember this is a business transaction,
first and foremost. Use your head in business.
4 The Wizard Was Just A Man.
You may recall in the movie how Toto, the little dog, found the wizard hiding
behind a curtain, to Dorothy’s dismay, just as human as she was. Remember that
your renter is only human, and will disappoint and frustrate you, as any human
will. After the “feel good” wears off in a new relationship, you begin seeing
the “real” person. You may be surprised when you begin discovering all the
weaknesses of their personality. But remember that they are beginning to see
your “real self,” too. In a rental relationship, if their behavior is not
directly impacting you negatively, keep criticism to yourself, and learn to
forgive. Be graceful and thoughtful if you expect the same in return.
5 Remember You Can Call The Flying
Monkeys Out. If there are difficulties, schedule a
household meeting to discuss the issues. If during the meeting the renter
makes agreements with you but later they are just not keeping them, call the flying
monkeys out! What I mean is, take time to explain what your expectations are.
Do you expect to share the cooking duties? The cleaning? The yard work? The
gardening? Do you expect to share meals? Share social events? It is your
job as the landlord to clarify any challenges that arise, because it is your
home and you want to keep it sweet. If you allow problems to go unaddressed they may
escalate and lead to a “blow up.” You want to avoid emotionally-charged
exchanges.
As a landlord, try to
keep in mind your home has become the renter’s home upon move-in. Your renter
has needs, preferences and wants about their home environment, just as you do.
Keeping in mind the renter’s needs, as well as your own, will contribute to a more peaceful and agreeable home life. A good rule of thumb is to ask yourself is: am I
playing the wicked witch, or the fairy godmother? Am I expecting them to be
superhuman? Would some clear communication in the form of a house meeting
enable us to solve our problems? Am I avoiding communicating with them on
issues that seem difficult? To be a good landlord doesn't mean you have to be super human, either—but
it will require that you keep healthy boundaries, and communicate effectively
when there are difficulties. Because, there really isn't any more important place than home.
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