I want to put in place some incentives for new tenants and want to know if anyone on BiggerPockets has done something similar.Here are a few ideas I have had:First Month Free: Sign a 13-month lease and get your first month freePets: No pet fee for the first 6 months, year, etcRent Discounts: Offer a discounted rent for the first month or two fortenants who sign a pre-lease agreement before a certain date.Waived Fees: Waive application fees, administrative fees, or securitydeposit for tenants who pre-lease.Free Utilities: Offer to cover utilities such as water, electricity,or internet for a certain period for tenants who sign a pre-lease.Upgrade Packages: Provide upgrades or amenities such as free parking,access to a fitness center, or a smart home package for those whopre-lease.Gift Cards or Vouchers: Offer gift cards or vouchers to localbusinesses such as restaurants, cafes, or grocery stores as a signingbonus.Flexible Lease Terms: Offer flexible lease terms, such as shorterlease lengths or the option to renew at the same rate, to incentivizetenants to pre-lease.Refer-a-Friend Program: Encourage current tenants to refer friends orfamily by offering them a reward if their referral signs a pre-leaseagreement.Early Move-In: Allow tenants who pre-lease to move in a few days earlyat no additional cost.Guaranteed Parking: If parking is limited, offer guaranteed parkingspots for tenants who sign a pre-lease agreement.

Much like fix and flip loans spiked up to 11-14% for a while, and are now back in the high 9's to 11's, I think it's encouraging to see the terms floating back to closer to where they were before. 

I’m talking about getting in better Health so we can enjoy life longer and be a blessing to society longer.Anyone have any experience, encouragement, pointers, or comments?

Ultimately, if you come across an MFH with a vacant unit that suits your needs for residency, it's definitely worth considering and I encourage you not to hesitate.

I'm sure you and your agent have done your due diligence on the STR regulations in your market, but I would encourage you to analyze the deal as a long term rental and verify the numbers make sense.

Any insights, tips, or words of encouragement would be greatly appreciated.Thank you all for your time and support.

Thanks for this encouragement Shane!!

NY is working towards capping permit fees at $1,000 to relieve the financial burden and encourage property owners to convert basement apartments legally.Two years ago, the city launched a pilot program to award 15 winners grant funding to support legal ADU conversions.

As far as Steven’s journey goes, I would definitely encourage him to check out multiple different strategies and see what aligns best with his desired goals and capabilities (access to capital, time, etc).

This has made it a lot easier for the 1-5 unit operators and encouraged them to keep going.