When the Small Stuff is Actually the Big Stuff

When the Small Stuff is Actually the Big Stuff

By M. Jane Garvey

Situational awareness, or consciousness of our environment and the people or things in it can help us stay safe. It can also make a huge difference in how quickly we recognize problems both in the physical world, but also in our relationships. Whether you are looking to build relationships that last, find the right residents for a property, minimize the cost of repairs, avoid the unexpected budget killers on a rehab, catch the early signs of health problems, or even figure out why you aren’t achieving your goals, paying attention to the small stuff is of utmost importance.

We all know the frustration of the expensive replacement that could have been an inexpensive repair if the problem had been caught earlier. Sometimes we do this to ourselves by not paying attention. Let’s say there is a noise in your house or car that you haven’t heard before. Do you hear it, or do you have music playing, the radio on, or your mind on other things? If you ignore it long enough, it will eventually become evident what was wrong. It may also be far more expensive to repair.

When we rent out our property, we outsource the situational awareness role to the new residents. I think many of us have experienced the frustration of feeling like some of our residents think we are clairvoyant. We never hear from them when there is a stain on the ceiling, a new crack in the basement floor or wall, a light that keeps flickering, noises coming from the attic, the furnace making a strange noise, or many of the other things that can signal something has started to go wrong. In the process, the small stuff becomes the big stuff.

The result of the small stuff becoming big stuff in a rental is often not just the repair itself. Sometimes it is another turnover as the resident decides to move. Sometimes it results in the resident thinking you don’t care about your property, so they stop caring.

How can we change this dynamic? First and most obvious is, pay attention to the small stuff when you see it, or hear about it. Your resident rented a property in good repair. Keep it that way. When you have interactions with your resident, ask if there is anything you should know about. You may get responses like, “it is no big deal, but my toilet paper holder is broken”. If you choose to ignore this, because “it is no big deal” you signal to your resident that they shouldn’t bother to tell you about things like that. It leaves them with a small thing that will fester and become a big thing. Repair it, and you will show them you care about them and your property.

I have worked with handymen and contractors over the years that came and fixed a specific problem but never paid any attention to other things. I have had others who were keenly aware of everything. The keenly aware handyman is a godsend. Sometimes the job seems like it got expensive, but what has happened is the small signals of problems got noticed, and things got fixed when they were still small problems. The residents often get the hint. They need to be paying attention. If the handyman is a good communicator, it helps when they tell the resident what they should be watching for or doing to mitigate the potential for further problems.

Another small thing that can go unnoticed or unaddressed is a change in behavior. For instance, has there been a change in timing or source of rent payments? If so, it might make sense to reach out to see how your resident is doing. You don’t need to tell them why you are calling, just reach out. You can either build the relationship, or damage it. The opportunity has presented itself with the small change in behavior.

Be mindful of problems your residents may be facing. Get ahead of them if possible.  For instance, if you see on the news that the company they work at is shutting down the plant in your area, there is a transition coming. Reach out and find out how the plant closing will affect them. Will they need to move? My leases have a buy-out clause that allow a resident to leave mid-lease. If a company is transferring someone, this is something they are likely to cover. Pre-negotiating it makes it a no brainer. If they are going to have to move, remind them of the clause in the lease that will allow them to do this without breaking the lease. If the buy-out fee is clearly unaffordable, work with them to set expectations. Leaving the place in great shape, referring friends or colleagues, helping you have a quick and easy turnover by keeping it clean for showings, and being flexible with timing all can help mitigate the turnover cost for you, and hence your need to collect the buy-out fee. Keep in mind, the relationship you build or destroy during stressful times will come back to help or haunt you. Your residents talk to each other, and social media extends their reach in the community. Treat others as you would want to be treated if you were in their circumstances.

As we screen potential residents we need to pay close attention to the small stuff. Fraud is rampant in rental applications. A great credit screening and background check from Rent Perfect can help catch things for you. In addition to this, you need to pay attention to things in your interactions with the potential resident. Are they being consistent in what they tell you? Does it make any sense? The small things are hints of big problems to come. Avoid renting to people if their behavior, attitude, or information foretells problems to come.

When talking to potential sellers, pay attention. People are often reluctant, or even unable to be open about their problems and true motivations. This is particularly true for a conversation with a total stranger. The simple question “why are you selling” may bring some answers. There are often much deeper motivations with subtle clues. Listening for the small things and pulling on those strings may bring you to a better understanding of what is needed to put a deal together. Patience, good listening skills, and the willingness to build a relationship will go a long way in a world where few are listening or paying attention.

Consciousness of our own behavior and what drives it is very important in our relationships with others, and even with ourselves. Have you ever asked yourself why you continue to do something that you know is harming you, or your relationships with others?

As Richard Flint will tell you, “Behavior Never Lies”. In his books and talks, he tells us that “behavior never lies is a truth, which when understood and accepted, will reshape one’s understanding of the people who are part of their environment. The real definition of who a person is — is defined by their behavior, not their words. Words explain, while behavior defines the real message a person is speaking. The fact is, the real essence of truth is not what is said, but the behavior a person demonstrates.”

Our habits are sometimes unproductive. Pay attention to your habits, they are subtle clues. Some small habits can, if changed, make huge differences in your ability to achieve the success you claim to want.

Jane Garvey is President of the Chicago Creative Investors Association.