Tenant Incentive Ideas

[Trevor Ewen]

We want to find clever ways to reward tenants in our latest property. Basically, things we will do for tenants to incentivize them to stay instead of looking elsewhere. There's obviously price competition, curb appeal, and good management. Aside from that, we are looking for a few things that we as out-of-state landlords can do to keep them in place.

Here are the two ideas I have to start:

1) Holiday cards. Easy one, nice reminder particularly around lease renewal(s). I think I recall Jay DeCima mentioning it in:  Investing In Fixer-Uppers.

2) Allowing the tenant to choose a charity in the area that we support on a yearly basis. Thoughts are to give them a list of three-five. Targeting organizations with a good track record and a likelihood of impacting the area. Part of this is our belief that our money should be used for good, and what better good than investing back in the neighborhood? 

Other suggestions? Even better if you have done/still doing them.