Rewarding Tenants

[Alexander Lang]

Hey BP family,

It's been a while since I have posted a discussion on here, but I was curious. What do you as a landlord do for rewarding tenants? Do you at all? If so, what do you do and why? 

I have heard of many offering discounts on rent if they pay rent early and love that idea. I have heard of other landlords inviting their tenants to BBQ's (which may not be for all, but still). So if you do, what do you do?

I personally wanted to share a quick email that I sent to a tenant who I've had for over a year. Wonderful couple who are now recently engaged, and have always paid their rent or at least sent their rent check to my PO Box a week or so early before the 1st of the month. Every time I go to the property it is always in great shape, from the lawn to the counter tops, very clean, and presentable. 

I felt great and wanted to return the favor. I didn't implement a rent discount like other landlords, so for me that option may have to be added toward future properties/lease agreements, but for this couple living in a SFH I really could only think of a few kind acts. Perhaps go mow their lawn on a weekend? Perhaps clean their gutters for them? Maybe go wash their cars? Or how about top off their water softener salt? Yeah!!!

That's it, I mean who really likes carrying those 50lb bags of salt downstairs and dumping them into the softener every 3-4 months or so for those folks here in the mid-west that know what I am talking about? 

I know I don't, and since I had to go out their anyway I figured what is the cost of $20 in Salt that will help both my appliances, along with show appreciation and a mutual respect between my tenants and myself? 

At the end of the day, this truly is a people business and the relationships we build and maintain with our tenants (for us buy and hold folks). The tenants you like and the best ones you have you typically will go that extra mile for within reason. 

So please feel free to share your good deeds or tenant success stories. (Email below)

Email:

"I truly appreciate the responsibility that you both have provided and appreciate how well you maintain the property.

With that being said, I would like to provide you with a complimentary supply of water softener salt and top off your water softener, FREE!

it's not much, but its my way to show appreciation for having awesome tenants!!!

I will purchase four bags of softener salt and personally deliver and fill the softener myself on the 13th of August during my trash and recycling can safety/replacement inspection.

Thank you once again, and please do not hesitate to contact me with any issues or questions at all.

Thank you!"

[Michael Noto]

@Account Closed is on point here. Being overly nice and gifting these particular tenants may work out fine but long term it will bite you big time at some point.  Being a responsible landlord is your part, their part is to pay on time and keep decent upkeep of the property. Don't blur the lines beyond that.