How To Refuse An Offer
Thursday May 27th, 2021
Successful landlords or real estate sellers have mastered the art of running a real estate company. Investing in the real estate business is a considerable investment. As a landlord dealing with Toronto condos, you must make the required decisions to ensure that your company is successful while complying with the rules.
Learning to say no to renters is one of the most important things a landlord can do to run a profitable company. Saying no will help you maintain your sanity, streamline your corporate processes, and make life better for you and your tenants in the long run.
Learning how to refuse a tenant is daunting; understanding how to handle this situation requires time. Working through the tips and scenarios below will help you become more adept at dealing with refusals in the future.
Dealing With Demanding Tenants
If you are interacting with demanding tenants for your Toronto condos for sale, you'll need to learn to say no and set firm limits.
It is both empowering and liberating to learn to say no. It assists you in assessing accountability, limiting the time spent on ineffective activities, and allowing you to prioritize your objectives.
Many people equate negativity with saying no, and they believe that someone who always says yes is more approachable and willing to please. Neither of those attributes would help you as a landlord.
Instead, saying no to some requests allows you to say yes to others. It establishes the landlord-tenant relation that you are not a pushover who can capitulate under extreme stress.
This is a practice that all successful landlords can learn, and if you can master it, your management skills will significantly improve.
Six ways on How To Refuse An Offer for Condos for sale in Toronto
Let’s look at some of the best ways to refuse an offer.
It Takes Time and Practice
Saying no can take some practice before you feel confident following it in real life. Go over situations in your imagination and come up with responses to questions that you will have to say no to.
Create a list of unique situations where you would have preferred to say no to a tenant. Consider each of these scenarios and decide which will be the right option for the business. Then pretend to have a discussion with yourself about how you can reject a potential tenant.
If you have a business associate or friends who are landlords, you can also discuss this with them! It can seem odd at first, but learning how you might reject a tenant out loud will go a long way toward making the process seem more normal.
Don't Sound Mean
Remember that saying no does not imply being impolite. It takes a unique talent to politely decline requests using simple and concise wording that is neither abrupt nor dismissive.
People can react to your rejection in a way that makes you feel as though you are mean and will cause you to become agitated and use more expressive language in your speech. Throughout the talk, keep the words as respectful and neutral as possible. Know what you are trying to say and be consistent without being pessimistic. This would hopefully save the conversation from devolving into a sour one.
It's Vital to Watch Your Body Language
For refusing an offer on condos for sale in Toronto, your body language and tone of voice are crucial. Make direct eye contact, speak clearly and calmly, and explain your judgment if necessary.
Your purpose is to convey that you are serious about your situation but not aggressive when it comes to body language.
Don't Make Excessive Apologies
Many people combine a no with a plethora of apologies, reducing the conversation's impact and implying space for discussion. Avoid apologizing excessively. A heartfelt and straightforward apology will suffice (if needed).
You can share your disappointment that you cannot consider their offer at this moment. After all, even though you are fair, refusing a tenant request may sound like you are inconveniencing the tenant.
However, expressing the emotion will leave the tenant puzzled. Why don't you give in if you're so apologetic? To stop this kind of misunderstanding, keep your apologies brief and genuine.
Make sure you're refusing the situation or offer, not the individual. When you're polite and courteous to a tenant while rejecting their request, it shows that you're focused on the business decision you're making rather than putting the person down.
It might be convenient to use previous incidents between you and the occupant to justify your decision, but this will not help. That might come off as petty or demeaning instead. As the reason for the refusal, concentrate on the reality of the lease. Preventing matters from being personal maintains the highest level of respect.
Justify your decision
As part of the message, have an explanation. The tenant is more inclined to consider your response as final if you can simply present your arguments. They may not like it, but at least they'll understand why you're doing it.
Consider the following when denying a tenant request:
- Why can't the offer be fulfilled?
- Why is the request being delayed if it is possible?
- Where in the lease is this rejection represented?
- What are the possible concerns the occupant would have?
- Why does the tenant believe he or she has the right to make this request?
You should learn about these issues ahead of time to help you have a more effective conversation. Some tenants may not ask any follow-up questions, but in this situation, it is best to be over prepared. Make an extra effort to ensure that the justification is transparent. Refer to relevant portions of the contract of the Toronto condos for sale or make a copy of the facts you are basing your decision on whether the occupant is perplexed or unaccepting of your decision. This will assist them in making their decision.
These suggestions will help you gain trust and get you emotionally prepared to stand your ground when it comes to running your real estate company and making the best choices about your lofts for sale in Toronto.
Still not sure how to do it? Don’t worry, you can talk to one of the team members from the Toronto Condo Team. Each one of them can help you to bring the best of the situation.