Christmas Gift For Tenants
Does anybody else give there Tenants a small gift for Christmas? I think I am going to this year. I'm thinking of either a $50 rent discount in Dec., a $50 WalMart gift card, or a gift basket of some sort. Or maybe forgo the whole gift idea and just send a card.
Any thoughts or suggestions?
Look up Tenant Incentives. I think it's a tremendous idea. the rent discount is my favorite. I also send them small cards on their birthdays, and major national holidays. I once read a book "101 great advice for small business" (or something of that sort) and it has a lot of those ideas in it. I also offer a small repair every year. they pick if they want their carpet shampooed, kitchen cleaned, bathroom painted, or something similar. Simply running a vacuum cleaner through their house and following it up with a hoover SteamVac is a blessing to them. A foreign lady here will do the whole 2BR house for $40. Professional cleaners are some times very comparable. It's just a call of quality vs. cost.
Your idea is a very good one. And I'm sure the sentiment behind it is worthy of nothing but praise. But please be careful that this generous idea doesn't blow up in your face. Not everyone celebrates Christmas. Do you know which of your tenants are Jewish, Muslim, Buddhist, Shinto, agnostic, atheist, etc.?
I give out turkeys on Thanksgiving because it's not a religious holiday.
If you're going to give out a present at Christmas time, hand it out as a holiday present and wish people "Happy Holidays" rather than "Merry Christmas." At the very least most (but again not all) people can agree that New Year's is a holiday worth celebrating.
I think it is a good idea, too.
Agree, to call it a Holiday Gift--the warmth of the season. Good Friends, Family, Fun, and Food.
I would not make it a discount because that is not memorable; you want to create warm feelings.
I would deliver a basket of goodies to share w/friends, family that lasts for a week or two. Best if there is a local company that makes them and either they deliver or you do. Make it very personable and appreciative.
I give money in the form of a rent rebate. I send each tenant a holiday letter thanking them for their assistance in caring for my property and for their record of timely rent payments. As an expression of my appreciation, I include a check payable to the tenant(s). Tenants with late pays or with documented property abuse during the year do not receive a gift.
I give anywhere from $25 to $100 based on the tenant's longevity -- $25 for a one year tenant, $50 if a tenant has been with me for two years, etc. Tenants with me for four years and longer receive a rent rebate of $100.
The holiday season can be stressful. Perhaps my rent rebate comes in handy just when it is sorely needed. Noone has ever returned the rebate or complained that the gift was inappropriate to their beliefs.
I like the idea of a gift card better than cash. Years ago we were trying to rent a bunch of vacant apartments. We tried a number of incentives including a free months rent and free microwave ovens. The $80 microwaves rented more apartments than $350 of free rent. Seems tenants appreciated that the got to keep the microwave-- that it was theirs even after the lease was up. I suspect that whatever they buy with the gift card will make them feel better next June than $25-100 they don't remember where they spent.
Hey,
For the Holidays, I give a coupon worth $25 OFF January's rent (if paid on time). That is called a Win/Win.
Generally speaking, people place MORE value on physical items than cash. I do not know why this is true, but it is. When you rent a house, advertise one month's free rent and you get a few extra people...advertise a free DVD or Xbox and you can not fit everyone in the house.
People are strange...
For my "good" tenants, I give $50 gift certificates to a local restaurant.
Sad thing is, I've yet to receive a "thanks."
I'm thinking about starting a new policy for my bad tenants: stockings filled with lumps of coal.
[addsig]
My wife and I have given monitary gifts ($50) to tenants in cash. We feel that it is not truely appreciated beyond the time they recieve it and spend it.
The tenants that needed the money the most beat up the property and in the end showed no regard for what we tired to do for them. Never mind that we did not have to give them anything.
One tenant we even gave her $100 and bought presents for her kids.