Why Understanding and Honesty Always Work Best

By | 7 August, 2017

 At Incrent – Honesty is the best policy – we manage a growing number of properties with some of our happiest customers also the ones we’ve know the longest. One of our first landlords, Fernando, is still with us today. But, we had to earn his trust in the early days.

Fernando came to Incrent after he had a bad experience self-managing his buy-to-let (BTL) property. He’d owned the property for a number of years and was doing pretty well. But, that all changed when he signed some new tenants.

Unfortunately for Fernando, they were the wrong tenants. Not only did they sub-let the property, they also built a wall in the living room to create an extra room. They did both these things, without informing their landlord.

When Fernando discovered this, the only way he could evict the tenants was through a section 21 notice. As you can imagine, this was a stressful experience that led Fernando to look for a property management company. And that’s where our journey together began.

 Peace of Mind

Upon our first meeting with Fernando, we understood that what he really wanted from us was peace of mind. He needed to know we would do exactly what we said we would. Fernando also needed assurances that the tenants we placed in his property were the right kind of tenants. Our new landlord didn’t want a repeat of his previous experience.

In short, trust and peace of mind were more important to him than the guaranteed rent we provide.

When Fernando signed our agreement, we felt he was happy and confident in our ability to mange his property well. However, soon after we were managing the property, Fernando got in touch. He told us he would inspect the property and every room at 7am the next morning.

The request was a surprise as our agreement clearly states at least 24 hours notice is required for a landlord to inspect a tenanted property. But, we quickly understood the reason for Fernando’s request: fear.

Honesty is the Best Policy

We knew Fernando was acting this way to ensure his property was in the right hands. And, because we understood his worries, we worked hard to try and arrange a visit to the property as quickly as possible. We wanted to give him the peace of mind he deserved.

Rather than fob Fernando off, or thrust an early morning visit on our tenants without the required notice, we spoke to both parties like human beings.

We told our landlord that we completely understood his fears due his past experience. However, a visit with less than 24 hours notice just wasn’t possible. Fernando complied, but said he still wanted to visit early in the morning.

In our conversations with the tenants, we explained the landlord wanted to inspect his property at 7am. The timing of the visit didn’t really suit any of them. Some tenants would be in bed after working late, while others would be out as they started work early! What were we to do?

Happily Ever After

Even though the visit was scheduled with the required 24 hours notice, we tried to make an early morning inspection more manageable for the tenants. Delivery of a fresh breakfast was arranged, to encourage the tenants who were in, to wake up and meet the owner.

We also gave a small gift to those tenants who were unable to be there, to say thank you for the access to their rooms. We did that, even though the inspection was arranged as per the terms of our contract.

The inspection was a success. Our tenants got a filling fresh breakfast and Fernando could see how well the tenants looked after his property.

Because we understood Fernando’s fears and that our tenants weren’t keen on an early morning visit, we were able to manage the situation. Our thought and consideration, along with our honesty and good communication, meant the situation ended well. All parties got what they wanted or needed and were happy with the outcome. Most importantly, Fernando is still a happy customer of ours a few years after this event.

Honesty always works best

We know many other landlords we work with are equally happy with out service. That’s because we put this kind of thought and understanding into every property we manage and every property investor we work with.

If you would like the kind of property management service we provide, then get in touch with Incrent today.

 


Alessio Tondo & Fabio Tarantino
Two ordinary guys who turned their passion into a business.
Co-Founded INCRENT
Rent 2 Rent specialists, London
Focused on how to Increase Your Rental Income.

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