Investor · Aurora, CO · Member since 2009 · 200 posts · 74 votes
Do you provide a move-in care package for your rentals? My wife and I are toying with the idea. Nothing fancy mind you, just a few welcome home items. Magnet with local emergency numbers, maybe a small target, walmart gift card $10, or small coupon book, DIY manual for basic home repairs etc etc.
Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
15y
Check in your community for a "Welcome Wagon" usually run by civic organizations or chamber of commerce. They usually give a small basket of coupons, discounts to activities, names and numbers stuff and ads for member services. Put them on the list (after you go through the basket and take out ads for locally attorneys). Good luck....
Commercial Real Estate Broker · Memphis, TN · Member since 2010 · 151 posts · 82 votes
15y
We give all of our tenants a move in packet mostly with informational numbers (cable, fire, utility, police, etc) and a bunch of local businesses have coupons put in their packet as well. We also put in flyers for insurance agents that offer renters insurance, this is a big thing that tenants often overlook.
One tip i have found that sometimes works depending on the type of property is a somewhat large gift a bit before lease renewal time. We have given TV's etc ($200-$300) two months before a renewal. It often can be an incentive to stay. Even if they were planning to renew anyway they will be most appreciative. That amount may seem excessive, but its a small price compared to vacancy downtime, advertising, etc.
SFR Investor · Orange County, CA · Member since 2009 · 1k+ posts · 1k+ votes
15y
The only thing I give to new tenants is an information package, like Brandon mentioned, with phone numbers for the local utility companies, instructions for the proper care and feeding of the property, safety information (number and location of smoke alarms, CO detectors, fire extinguishers, etc.). I also give them a certification, basically a signed letter, that the locks have been changed so they need not worry about any previous tenant still holding a copy of the key.
The only time I've purchased a tenant a move-in gift was when I had a returning tenant come back to be my renter. I bought her a small potted plant with a mylar balloon that said, "Welcome Home".
Lexington, KY · Member since 2009 · 2k+ posts · 1k+ votes
15y
I agree on the information packet but I think anything else is overkill. If you are providing the proper services to your tenants at the right price and treat them well then you will not have a problem with excess vacancy. I do not see who buying someone a gift will convince them to stay if they were considering moving. In my opinion they best gift you can provide is being a good landlord.
Commercial Real Estate Broker · Memphis, TN · Member since 2010 · 151 posts · 82 votes
15y
James,
i agree with your post, one point to add with the gift idea is that when working in several parts of town with a tough demographic you would love to have the tenant mentality of "my landlord is good and gave me this xxx" vs. "my landlord is sh**", even when you do fix what is neccesary.
This is keeping in mind that the tenant mentality in certain areas is one that thinks that instant tax refunds are amazing and worth paying 10% for in return for getting them a week ahead of time, if you get my drift
Investor · Middletown, NJ · Member since 2008 · 2k+ posts · 1k+ votes
15y
I haven't given a move-in gift per se, but to entice applicants I advertise either 2 weeks free rent or a $250 Best Buy gift card.
Always good to give them the local contact info. I have service agreements on the furnaces in 2 of my properties and they know to call the utility company if there's a problem.
Investor · Aurora, CO · Member since 2009 · 200 posts · 74 votes
15y
Steve, thanks for the link. I didn't come up in my search. I like the idea of a 3 ring binder with manuals for appliances.
Will move-in baskets with small gifts increase my bottom line? Not likely, but I think it might help contribute to a good working relationship with tenants. Help folks feel like they're renting a home, not just another unit. If a $25 gift basket prevents or minimizes one future issue, Its very much worth it. No way to quantify that on the tally books though.
Lexington, KY · Member since 2009 · 2k+ posts · 1k+ votes
15y
Jason,
I see your point but still think it is unnecessary. As a landlord I will make them feel like they are renting a home by always treating them with respect, getting to know them when possible, working with them to quickly fix any issues they may have, letting them know that I am available when they have any questions and concerns, and providing a comfortable place to live in.
I have rented several places in the past and can speak as a tenant and say a gift of some sort would not change my mind at all about the landlords. If they were providing superb service I would say that is on par, if they are not I would take it as they are trying to bribe me in lieu of doing what I am actually paying rent for. I think letting your business and communication speak for itself works.
Investor · Aurora, CO · Member since 2009 · 200 posts · 74 votes
15y
I appreciate the replies. I will talk it over with my wife. We will still do a welcome package. (emergency contacts, lease folder etc etc.) I will rethink the gift cards and coupons though.
Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
15y
Check in your community for a "Welcome Wagon" usually run by civic organizations or chamber of commerce. They usually give a small basket of coupons, discounts to activities, names and numbers stuff and ads for member services. Put them on the list (after you go through the basket and take out ads for locally attorneys). Good luck....
Real Estate Investor · Long Beach, CA · Member since 2011 · 74 posts · 17 votes
15y
Will move-in baskets with small gifts increase my bottom line? Not likely, but I think it might help contribute to a good working relationship with tenants. Help folks feel like they're renting a home, not just another unit. If a $25 gift basket prevents or minimizes one future issue, Its very much worth it. No way to quantify that on the tally books though.
Jason, I think you and your wife have the right idea. Many of us forget or have never experienced what it feels like to BE the renter. Even if you have the best maintained property at the fairst price, there will be a time when the tenant feels misused or neglected. If that $25 gift package makes them feel like they are appreciated more than on the 1st of the month, I say keep up the good work. You have probably saved yourself numerous headaches you will never hear about!
Real Estate Investor · Pickerington, OH · Member since 2009 · 38 posts · 11 votes
15y
We provide an information packet on the appliances and local phone contacts. We also provide a gift certificate for a free large pizza (We've all moved and the last thing you want to do is cook) and several coupons from businesses in the local area. It has been good networking with the local businesses.