Yesterday one of my contractors called me for advice. He is planning to purchase a triplex near one of my buildings and he wanted to know what I though of the area. I checked it out on the map and could not be very positive. “But it only a few blocks from your building”, he replied. Yes, but it is a very few IMPORTANT blocks from my building.

And that is the way it is. In many areas a few blocks make a difference. In this case, the street was fine, but the two blocks East of his street are bad. And, it is too close to a liquor store that has closed several times due to criminal activity. The property is a little too far South and a little too far West for my liking.

A prospective tenant will drive around the neighborhood. They will come back at night. They will ask friends and coworkers. They will call the local authorities. People will rent in the best neighborhoods that they can afford. They are easily scared off.

First question I ask myself. Would you live there? Second question. If I drive around with fresh eyes, does it look safe? The prospective tenant from out of town may feel threatened by a couch sitting on the curb. You may know it is trash day and it will be picked up soon. Regardless it could be a red flag to someone moving into the area.

I am very conscious of the experience a prospective tenant will have when coming for an appointment to see my unit. On several occasions asked neighbors surrounding my building to remove eye sores. I show up early to meet prospects and pick up any small debris in front of my building. When asked about the safety issue, I direct them to call our local Sheriff’s Department and give them the most recent statistics. I try to be as accurate as possible for legal reasons. Landlords have been sued for being misleading.

Bottom line. Try to buy in a great area. If you already own property, do what every you can to maintain or better your community. You can increase your equity by making your neighborhood safer, more beautiful and more desirable.