7 Small Ways to Show Tenant Appreciation
Your tenants are more important to you than you may realize – especially when you find yourself with a good one. Not only do they provide you with an income, but they allow you to relax a bit. No need to do your searching and listing, or tenant screening. You can just sit back, maintain your property, and collect rent.
Everyone loves to feel appreciated. So, if you appreciate your tenants you should show them. And that doesn’t necessarily mean spending a great amount of money or buying elaborate gifts. There are small ways in which you can show your tenant how much you appreciate them – and we’ve got 7 ideas for you.
1. Gift cards. Give a gift card for a local hardware or home store. Offer it as a gift to get something they’ve needed to make their rental feel more like home to them.
2. Upgrades. Take care of an upgrade at the residence. Either speak to your tenants and discover their ideas (after all, they live in the home and know it intimately), or surprise them with an upgraded appliance, a fresh coating of paint, a carpet cleaning service, or an overhaul on the bathroom.
3. Incentives. Offer your tenants a free month (or discounted month) of rent when they renew their lease.
4. Holidays. Acknowledge your tenants on major holidays. Provide them with a small token of appreciation, such as a small gift card, bottle of wine, or even baked goods.
5. Landscaping. Offer to have a landscaping service spruce of the property during the warmer months.
6. Host an event. If you have multiple tenants and rentals, you may want to host an event, such as a barbecue or the like. Give your families a day of fun, some food to grub, and maybe a chance for raffles and prizes.
7. Just be a good landlord. Be fair, responsive, and respectful. And, most of all, be approachable. When tenants feel as though they can come to you with any issues or concerns, they are more likely to have respect for you and your property.
You know how much your tenants benefit you. So, when you have some stellar tenants, take the time to let them know you appreciate them. Even the smallest token of gratitude can leave the biggest impression.
Marina Shlomov, a managing partner at ALH|Podland Rental Homes Property Management is the author of many articles on Landlording, Property Management, and Real Estate Investing. A residential builder in the state of Georgia since 1999 and a property manager, Marina is an investor herself. Her property management company is intended “For Investors” and “By Investors” for a simple reason – she knows what investors’ goals are and she works hard to reach their goals. In her spare time, Marina likes to spend time with her family, friends, garden, read and travel. Check her out at www.alhpodland.com.
You can find Marina’s articles and comments at @rentalhomesatl on Twitter, on Facebook, Google+, Blogger. and YouTube.