Giving Gratitude = Receiving Great ROI

[Ayodeji Kuponiyi]

As Christmas draws near, I realized after completing my Christmas shopping that I didn't get something for my tenants. It goes without saying that without tenants, owning properties is meaningless. I have great tenants who pay on time and follow the building rules. Just as employers give gifts to their employees to show appreciation for their hard work, I wanted to express my gratitude to my tenants for being awesome. I went and purchase a $25 gift card from a nearby grocery store for each tenant. Giving a gift card is simple and gives the tenants the option to buy what they will need. 

Last month I gave my tenants a $10 gift card to a local Dunkin Donuts as a Thanksgiving present with a note expressing "I'm thankful to have great tenants like them." This helps change the perception that all landlords are money hungry. They were all pleasantly surprised and touched. 

These little gestures can help reduce tenant turnovers, make tenants feel like part of a community and to my surprise boost referrals from other tenants looking for a place to rent. You can be creative and the gift doesn't to be expensive. A $5 gift card can be a great return on your investment if your heart is in it. 

Happy Holidays & Happy Investing!