Happy Veteran’s Day!
On this day of remembrance for those who have sacrificed their lives and bodies for our freedom we felt it only fitting to reflect on the value that veterans possess as both landlords and tenants. With over 26 years in the property management business we have encountered countless veterans in each capacity and in almost every case they are exemplary in their roles. The National Veterans Training Institute at the University of Colorado Denver recently published a list of 21 Strengths Arising From Military Experience (Click Here to see the full list). We will examine our experience with some of these traits in both veterans who are landlords and who are tenants.
Leadership
Those who have served in the armed services understand chain of command and the importance of orders and directions. Landlords apply this to their understanding of rental regulations and procedures and how to clearly communicate them. While tenants who have been leaders understand why certain directives are put in place and the importance of following the rules.
Ability to Work With All Types of People
In the military you are teamed with groups of people from all walks of life and an entire range of socioeconomic backgrounds. You may or may not like them at first but what inevitably happens when you are required to trust someone else with your life is that you begin to appreciate the good in all people and what everyone can bring to the table. As a landlord and tenant you have to interact with people from all walks of life, whether they are your tenants or your landlord or even your neighbors the ability to work and play well with others is essential and veterans are well equipped with this skill.
Ability to Work Under Pressure and Meet Deadlines
Deadlines are a part of life in the armed services. In fact it is the rare workforce where the term deadline actually has a literal meaning because people could die if you are not able to do what you are supposed to do when you are supposed to do it. It goes without saying that a tenant who respects deadlines is a great tenant. And on the other side, a landlord who understands deadlines will ensure that a property’s mortgage, taxes and insurance are up-to-date thereby ensuring the well being of their tenants.
Security Clearance and Trust With Sensitive Information
As a tenant you have to hand over valuable information such as your social security number, date of birth and even your bank account number that shows on your rent checks. A veteran who has been entrusted with sensitive information understands the importance of protecting this information so that it doesn’t get into the wrong hands.
Emphasis on Safety
Safety is paramount in the military. You need to be aware of the safety of yourself as well as your fellow soldiers and even those who you have never met. It goes without saying that a landlord who understands the importance of safety will not allow small problems to become big ones and potentially endanger the well-being of their tenants. Additionally a tenant who has safety as a priority will minimize liability to a landlord and even help raise property values by ensuring that there are fewer crimes in the vicinity of the property.
Flexibility and Adaptability
In the real world of war it is essential to be able to adapt as situations change. With a rental property, as in life and war, there are always going to be new obstacles that need to be overcome and bridges to cross. Veterans have encountered countless situations that have required them to make adjustments on the fly.
Education
All military personnel have achieved at least a high school level education and many have completed college.
Global Outlook
Since so many veterans have been stationed overseas they have developed the ability to understand and appreciate the intricacies and subtleties of other cultures. In a community as diverse as South Florida it is absolutely essential that landlords and tenants respect the beliefs and practices of other cultures. Servicemen and women have been exposed to this type of multicultural interaction before and are well equipped to handle it.
Concern About the Community
Members of the military have spent years and even decades concerned for the welfare of their fellow citizens. It is only natural for that concern to spill over into the communities where they reside and own properties. Landlords will make sure their property is conducive to a safe and nurturing environment and tenants will be more aware than most of any possible dangers to their community.
In the end it is obvious that veterans make excellent landlords and tenants as a result of the wide range of skills and experiences that they have encountered in their time serving their countries. Now this is not to say that a veterans is guaranteed to be perfect or somehow always better than a non-veteran but as with anyone you meet life experience shapes character. So the next time you are looking for a tenant or considering to rent a property find out if they are a veteran because you might be able to reap the benefits of an individual who has already accumulated a lifetime of training in success.
Happy investing!
– Real Property Management Miami
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
