Anonymous Landlord

 

Being an “anonymous” landlord is an art.  If you are present and able to remain anonymous as a landlord, you will find tremendous benefits. Here is how you do it and what benefits you will gain.

We originally heard of this idea from a couple who was selling their ten-plex apartment building. When we went to see the property, they were very clear that all the tenants thought that they were  maintenance workers. They appeared to be the groundskeepers by their clothing.  They drove an inexpensive car, and whenever they were working at the property, they referred all questions and services to the property management company.

After living alongside our tenants in one of our first complexes, we grew tired of calls and complaints throughout the days and nights. Most tenants are great, but our conversations always revolved around something being wrong — and we were always at fault. This was not a fun way to live long-term. At the time, we had very little money, and it was our first property.  We didn’t yet have the ability to hire a property management company.  

However, we learned from the 10-plex couple. When we purchased our first large apartment property, we hired a recommended property management company that charged 6%. Part of our agreement was that we should be known as the maintenance workers. This was great.

Benefits of being the Maintenance Workers/Cleaners/Lawncare Workers:

• Renters are generally nicer to you.
• If someone is really mad, you can tell them to call the Property Management Company.
• You get an idea if something bad is going on, such as drugs or abuse. An example is an area behind one of our garages. At night, troublemakers would go behind the garages. A tenant spoke to the “maintenance man,” and soon a new fence was put up!  
• Renters tell you about the issues that need to get fixed.  They may not like calling property management if they have difficulty communicating or want to avoid charges.  This direct, trusted communication can be helpful.  We always prefer to fix issues when we know about them. 
• You can spot problems. By cleaning the laundry areas ourselves, I see when common area windows are open, when there is a water leak, etc.

I do have one caveat.  I do not recommend being anonymous landlords from afar.  If you are a far-flung landlord who just comes back for occasional visits, I recommend the opposite. I recommend that the tenants know that you are the landlord, so that when you come, they can tell you directly what needs to be fixed.

Long story short: If you live in town, be the maintenance man.  If you live a distance from your property, be the landlord.  (Don’t give out your phone number though!