Being a landlord is a daunting task, especially if you have tenants who are not holding up their end of the bargain. Tough tenants are a headache and cost you money and sleep which is why it is important to show your appreciation to those tenants who make your life easier. These 5 ways to show gratitude to your tenants are a sure way to keep good tenants around for a while.
It may seem cliché, but a gift basket is a great way to show your tenants that you care. Anything will do, but one great suggestion is to add household items like paper towels or cooking spray. Physical items are great because they will remember that you gave it to them every time they use it.
One Time Rent Reduction
Nothing will surprise and elate your tenants more than getting a surprise rent reduction. You are in the business to make money so it is not like you are giving them a free month's rent. Even something as small as $50 will make your tenant's month.
A great way to show how much you appreciate your tenants is by being accessible to them when they need you and attend to their needs promptly. Having a good relationship with your tenants and making them feel like their needs are important to you will keep good tenants around for a while.
Bend the Rules if Needed
If you have a great tenant who never causes problems and always delivers their rent on time, it won't hurt to bend the rules a little every once in a while. One example of such rule bending is waving the late fee if they are late for rent one month. Of course, you don't want to allow them to do anything illegal and you don't want to make a habit of it, but every once in a while won't hurt anyone.
Say Thank You
Sometimes something as small as a thank you can make a huge difference to someone. Doing it in person is always better but if that is not an option you can also send a card thanking them for being a great tenant and expressing how happy you are to have them renting your property.
There are a lot of ways that you can tell someone how much you appreciate them and these are just a few. Letting your tenants know that you like having them pays off for you since they are more likely to take better care of the property. Happy tenants will also be more likely to refer you to other people in the future.