This is a great gesture and will go a long way with the tenants, especially if you are self managing.We keep space heaters in our office for furnace failures, but in a complete failure where that is not an option, I would recommend that they find a temporary place to stay until power is restored and let them know that the rent will be abated for the time that they are unable to adequately use the home.If you do lose power and are worried about frozen pipes... turn off the water at the main (if you can access it.)

This offer was said to be a kind gesture because my money was not needed.

Also, he may be directing their vote or the tenants may appreciate the gesture and pay more rent.

I think giving them to the end of Feb is a nice gesture-- that makes it not personal, tell them that you bought it to fix up and you really have to get it empty to renovate and raise the rent.

But movie tickets, a dinner out or something is a nice gesture that goes along way. 

I think it is a nice gesture to help them keep you top of mind along with passing on some holiday cheer.

And if things go bad, they will not remember your gift or nice gestures anyway.

@Justin O'MalleyI think it's an incredible gesture of loyalty to their employees.

Thank you for the kind gesture. 

I always want my tenants to stay and I will make very nice offers, gestures etc., but converting it to a 2BR would not be one of them.