Hi all,
I have several SFRs in the Atlanta area and have been fortunate to maintain 100% paid occupancy during the pandemic. Recently, one tenant signed up for RentalKharma, which gives them an improved credit score if I confirm they pay rent on time. This got me wondering if some type of similar incentive program could be effective in improving how tenants treat my properties.
For example, I find that most tenants do NOT change HVAC filters as required in the lease which no doubt leads to more expensive HVAC repairs. Some don't maintain their lawns resulting in HOA notices that I have to run down. Others put crap down the drains or disposals that lead to plumbing issues. Etc. So my thought was, what if I offered some incentives for proper maintenance? So if they can show me they are changing air filters etc. they earn some kind of reward.
Also, I have the right to inspect the properties but scheduling that is a hassle and I rarely do. Recently, I refinanced and got current pics with the appraisals. I was able to see general conditions and note some specific issues, like a broken light, evidence of a dog, etc. So it occurred to me that I could also ask tenants to upload pics every quarter in exchange for some ongoing benefit like a free Netflix or Hulu account. For me, it would be worth a few bucks a month to have eyes on the property.
What do you guys think about these ideas? Does anyone here offer any kind of incentives for tenants to take better care of your property? Or provide regular pics in lieu of walkthroughs or inspections?
Please share your thoughts....
