Monday, April 5, 2010

Has Walmart ruined the Property Management industry?

I find myself shopping at Walmart from time to time and it's not so much to enjoy the atmosphere. In fact, a friend posted on his twitter the following: "Waffle House is just like ultra-expensive restaurants. You are paying for the atmosphere." I thought that was very well put. And sorry, I don't remember who posted it. If you were the author, just leave a comment and punch me when you see me. I sometimes feel the same way when I go to Walmart. However, the area in which Walmart sometimes attracts me is knowing that I can easily return an item with no questions asked. If I buy the wrong size, or color, or if the fish were biting a booger man racquet buzz silver blades with a chartreuse skirt instead of june bug gambler sweebo worm, I can simply go to customer service and get a refund! This approach to customer service works well for Walmart in the retail world.

Recently, a person rented a home from us. They applied, were approved, and executed a lease with us for the property. Everything went as is standard. The home was taken off of the market and the move-in was scheduled. As the move-in date approached, the new tenant decided that they did not want to move in. They wanted to know when would be a good time to come by and pick up a security deposit and rent refund. Of course, once a lease is signed a legal binding contract has been executed. At that point, a process begins in which money is budgeted based on monthly payments that have been promised by the tenant. Time has elapsed with the home being removed from the market. Had it been left on the market, chances are that it would have already been rented to another person. Many things come into play and lines must be drawn. At first, I was frustrated. Then I began to wonder if Walmart has had an effect. When people are used to being able to simply return any item for a full refund with no questions asked, maybe society has trained people to not see the gravity of signing a legally binding contract. I understand that we live in a selfish world and we all look out for ourselves. But this is not a "stick it to them" situation. Property managers are stuck in the middle and we must fulfill the job we are hired to do. The lines we must draw are following the terms of the contracts and Florida law.

So to Walmart, I must say "Thanks alot!" But we all must understand that policies and decisions are made based on deeper issues and years of experience. We appreciate all of our tenants. Thank you for trying to understand when we have difficult decisions to make.

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