Landlording & Rental Properties

Attracting Tenants with Incentives or Gifts

Expertise: Real Estate Marketing, Personal Development, Real Estate News & Commentary, Mortgages & Creative Financing, Real Estate Investing Basics, Landlording & Rental Properties, Flipping Houses, Personal Finance, Business Management
301 Articles Written
Sometimes landlords need to use incentives to keep their tenants happy, or in the case of a bad rental market, to attract new tenants. A few of the ideas I’ve read about in our forums are: Keep ’em happy ideas: – New A/C Units – New Fans – Upgraded hardware like towel bars and knobs [...] View the full article: Attracting Tenants with Incentives or Gifts on The BiggerPockets Blog. This content is Copyright © 2017 BiggerPockets, Inc. All Rights Reserved.

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Joshua Dorkin is a serial entrepreneur, investor, podcaster, publisher, educator, and co-author of
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    Barrett Niehus
    Replied over 13 years ago
    The keep ’em happy approach to attracting tenets has a lot of merit depending on what else your property has going for it. I have found these types of incentives to be very useful if the property is priced above the market, or is older and less desirable than the competition. Vacancy rates also factor into the decision to incentivise tenants. -Barrett N. Reply Report comment
    Barrett Niehus
    Replied over 13 years ago
    The keep ’em happy approach to attracting tenets has a lot of merit depending on what else your property has going for it. I have found these types of incentives to be very useful if the property is priced above the market, or is older and less desirable than the competition. Vacancy rates also factor into the decision to incentivise tenants. -Barrett N.
    the landlady
    Replied over 13 years ago
    I agree — spending a little money here and there on keeping the place in good repair, and keeping the tenants happy is definitely worth it when you consider how much work (and expense) advertising, tenant screening, and turning over the apartment adds up to. A bird in the hand is definitely worth keeping. (Provided that they’re a good tenant, that is.)
    Barry
    Replied over 12 years ago
    I think a gift or two should be given every now and then to let your tenants know that you appreciate them. If your tenants are well behaved and give you no problems a few gifts of gratitude are fine. It’s just a way of helping things move a little smoother and it creates a better relationship. High-speed internet is a great way to let your tenant know that they’re appreciated. It helps them be more productive and eases stress in their lives.