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Bay Area landlords hope to create better tenant relationships as demand skyrockets

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Published  September 9, 2024 10:52pm EDT
Housing
FOX 13 News

High rental demands strain landlord relationships

With rental prices and demand increasing, the tenant-landlord relationship is becoming more and more strained.

TAMPA, Fla. - As more people move to the Sunshine State, rent prices have gone up significantly, but the high demand for rental homes is also putting an added strain on landlord-tenant relationships. 

Last week, FOX 13 reported on more corporate investors renting properties in Tampa and issues that may come with it, but it’s a seemingly tricky relationship even when dealing with private landlords. 

"In this industry, whether it's corporate or individual landlord or property managers, you're going to have good and bad in every industry," said Matt Fonk, a Tampa landlord.  

RELATED: Corporate investors may become your landlord as they buy more Florida real estate

Fonk has managed more than 500 properties, a portfolio close to $40 million. He said as demand increases for rentals here, the tenant-landlord relationship has become taxing.

"I think a lot of times the tenant goes in, they sign a lease, they press hard, a signature is on the bottom and that's it. There's no education, there's no home orientation. You know, they don't explain to them in detail maybe how the home needs to be kept, like the AC filters, change them once a month or some shut off things are. If you see this, let us know. Toilet's running, give us a call. But they probably don't do a lot of that," said Fonk. 

Renters FOX 13 spoke with detailed issues with mold, air conditioning and other maintenance on privately owned properties, saying they aren’t well managed.

Fonk plans to host seminars to educate and improve these relationships.

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"I like to educate landlords. I want to help them do better, educate their tenants. And so, we're working on a class to help them do a lot better with the type of things that they can do with property management," Fonk said. "Landlords can become better landlords, and they can actually have a relationship that has value, and it's a long-lasting relationship."

He said it starts with communication and advises record keeping via email or text of complaints by renters that go unfixed. 

Last week, FOX 13 reported that corporate investors now own well over 100,000 single family homes in Florida and renters are also having issues with these companies. 

"I think that they are too big – and the problem is they're too big to fail, right? Somebody's going to always bail something out," Fonk said. "At the end of the day, I don't think the education falls down the line. There's not enough oversight from the management perspective." 

The biggest corporate landlord in the Tampa Bay area – Invitation Homes – sent FOX 13 a statement, saying in part: 

"Invitation homes is proud to provide a desirable housing option to a growing number of individuals … throughout a resident’s lease, we routinely maintain our homes to a high standard and communicate proactively with residents on the condition of the house."

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