I wanted to share how important it is to have the benefits of having longterm tenants. I recently called one of my tenants who has been leasing from me since December 2004 and asked him if he was going to renew his lease since it expires 12/31/2009? He said yes and to send the renewal, so I immediately typed the renewal lease form that same day and mailed it off, his new lease will expire 12/31/2010. As I typed his renewal I started to drift back to 2004 and thought about the hard work and skills I managed to learn that allowed me to "seek" him from the very beginning. He is now on his 6 renewal with me and I know many find it hard to find longterm tenants, but in my case I apply techniques I've created myself and tailor them to each individual differently by basing such on their situation. See my "Qualified Crafted Tenant Equation" blog post dated 10/11/09 and view of http://www.youtube.com/watch?v=gdd_bhZ3bcY to see my point. Knowing the right skills to apply from the very beginning will land you a much better reward "longterm tenant" futuristically.
This recession is very tricky and having "longterm tenants" will weather you through the storm. I've owned this property since October 2003 and have gained greatly from it. I've only had 2 tenants leasing from this property. The first tenant was from October 2003-November 2004, and the second tenant was from December 2004 to present. So as you can see I've leased this property with no loss time or rent between the leases from the tenants. I have a trick to that and it involves me putting a "special clause" in all my leases. My "special clause" is something that "keeps" the longterm tenant, while the qualified crafted tenant equation "attracts" the tenant.
I will write a book soon about this, till then visit http://www.har.com/acoletteharrisprpts and click ACHP Published Books & ACHP EBooks and prosper from what I've already wrote so far.
April- Real Estate Broker