General Landlording & Rental Properties
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 6 years ago,
Incentivising tenants, good or bad idea?
What are your thoughts on incentivising your tenants? My first thought is around making them want to take care of the home. For instance, if I made an agreement with the tenant that each year I would allocate a certain dollar amount to repairs and maintenance (which would be far power than I would expect to actually invite). If they took care of things and I didn't have to spend that much, they would get the difference at the end of the year.
What would the pros and cons of that be? I feel like it would give them a reason to take care of the home. What an I not thinking of?
Are there any other creative ways that you use to incentivise your tenants?