Thursday, April 17, 2008

Forcing People to Keep Their Word.

Rule 1. Be ethical in business and expect others to be ethical with you.

I've had tenants try to give me literally a week's notice they were backing out of a lease. What to do? I can advise Landlords to say no but they are keeping the tenants deposit. I can advise them to say ok but you have to help find someone to replace you or we will sue. Who are they going to find but a friend that might do the same thing -- or worse!

Maybe its best to stop putting negative into a negative situation and begin from scratch.

Rule 2. Make people responsible for their promises.

You have been straight with them. Make them be straight with you.

I think the best thing to do is see what went wrong. All my 12 month leases have cut out 2 to 4 months early (and don't have any remorse), yet a few 8 month lease tenants are renewing for 4 months. Solution? Draw a policy and enforce it. Also let the tenants know this is not how they should be beginning their lives (student tenants). Have a lawyer send them a letter informing them that if the Landlord loses costs, they are going to sue them for those costs and I personally will be showing up in court to defend the Landlord. A lease is a contract, an agreement with a Landlord and the person they are letting occupy their land, their domain. If you didn't intend to keep your word, you should not have signed it.

Rule 3. Don't back down.

The other party (in my case tenant) will start to spew BS facts. I can tell you from experience they are lying and bluffing. Remember you are the one in the right because you were honest with them in the beginning and all your dealings with them. FORCE THEM TO DO THE SAME!

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