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A Good Deal Gone Bad

Posted by Jody Urquhart on Mon, Mar 12, 2012 @ 04:35 PM

Inspirational speakerIn January I purchased a 500 Square Foot Condo( close to downtown) in a great neighborhood in Calgary. This will be a rental investment property. Calgary has a less than 2% condo vacancy rate and I had inquiries to rent it almost days after I took possession.

I signed a lease agreement with a tenant for a furnished unit to be completed March 1.  It was a foreclosure and in pretty rough shape, so I hired a contractor to fully renovate it.

I also hired a designer to help me coordinate the look. I thoroughly enjoyed going to the unit every couple weeks to see the design come to life, cabinets, floors, tub, sink and more being installed.

Yesterday the renovation was completed. It looks so fabulous, I wanted to move in.

My tenant loves the place, except for one hitch. I bought high end furniture to be delivered by a furniture company on March 01. Unfortunately the bed was not delivered so my tenant was left to sleep on the couch.

He called me the following morning in a fit of rage.

It is so disappointing when things don't go according to plan. Certainly sleeping on a couch on your first night in your new home is not ideal. I personally invested many hours in the design, selection, and delivery of the unit. This hiccup was not premeditated or expected and the furniture store has done whatever they can to recify it.

My new tenant's attitude has gone from bad to worse. At one point he was livid as I tried to explain what happened he shot back that this was not his concern or problem.

As an inspirational speaker, I do a conflict management workshop on dealing with difficult personalities. I suddenly realized that this was one of those people. As he was berating me over the phone, i decided not to take the bait. I remained calm and neutral and stuck with the facts.

Ultimately the situation was resolved and life went on as normal. Volatile people like this are the most difficult because there attitude can turn at anytime and you never know who will be the victim. I always remind myself that this is business and I do not need to be friends with these people. It is all about agreements not personalities.

Aside from being an inspirational speaker, I currently own 6 rental properties. Three of them are in calgary - I manage these myself. I own two rental investments in phoenix and one in Las Vegas, these are managed by property management companies. It is nice to have someone else deal with tenant headaches but than again I wouldn't get to practice my conflict management techniques!

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Tags: conflict management, inspirational speaker

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