5 Simple Ways to Hold onto Good Tenants
Once you find qualified, trustworthy tenants, you want to keep them in your properties as long as possible, since it’s often very hard to find good tenants. Listed below are simple, easy ways to establish a friendly, long-lasting relationship with your tenants, so they will want to renew their contract with you year after year.
- “Housewarming” and welcome gifts. When your tenants first move in, gift them with a houseplant, restaurant gift certificate, or even a nice bottle of wine. Place the gift in the foyer or hallway before they move in, so they’ll get a nice surprise on their first night in their new home. For a more personal welcome gift (most appropriate after about a month after they first move in), give them a small home decor piece like a vase or maybe even a gift for the kitchen such as a utensil set or nice towels.
- A contract renewal gift. When your tenants renew their rent or lease contract, show your appreciation by giving them a gift certificate or a gift card. Give this gift in person instead of placing in their mailbox to show you truly care.
- The holidays. Thanksgiving and Christmas are a great time to show your tenants that you care and are a thoughtful landlord. For Thanksgiving, it would be a gracious gesture to give your tenants a frozen turkey for them to cook for their family meal. You can also give a bottle of wine or a floral holiday centerpiece they can use. For Christmas, you could send a nice card with a personal handwritten note, along with a gift card or restaurant gift certificate.
- Property management emergencies. If at all possible, make sure you take care of any maintenance issues as soon as you can; this lets your tenants know that you are responsible and willing to fix any issues promptly.
- Long-term tenants. For those tenants who have lived in your property for longer than three or four years, give a larger item of appreciation such as a new carpeting, a new dishwasher, or put in new light fixtures.