{"id":163607,"date":"2023-12-21T16:34:27","date_gmt":"2023-12-21T23:34:27","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=163607"},"modified":"2023-12-21T16:34:29","modified_gmt":"2023-12-21T23:34:29","slug":"giving-your-tenants-a-gift-for-christmas-is-nice-but-is-it-the-right-thing-to-do","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/giving-your-tenants-a-gift-for-christmas-is-nice-but-is-it-the-right-thing-to-do","title":{"rendered":"Giving Your Tenants a Gift for Christmas Is Nice\u2014But Is It the Right Thing To Do?"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">The holidays are here! The egg nog is flowing along with the cash, and you\u2019d like to keep it that way. You have long-term tenants, and they\u2019ve been great\u2014they pay on time, rents are at market rates, and they communicate clearly and professionally.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Of course, you want to show them your appreciation and encourage them to stay longer by giving them a holiday gift\u2014and what better way to show them some love than give them a rental discount for the holidays? Besides, who wants to be a Scrooge?\u00a0<\/span><\/p>\n\n\n\n\n\n\n  <div class=\"lg:block\" x-data=\"{ ad_block_block_6584cb58fdaf8: popAds(1) }\">\n      <template x-for=\"ad in ad_block_block_6584cb58fdaf8\">\n        <a\n          :href=\"ad.linkURL\"\n          class=\"no-underline text-black\"\n          x-on:click=\"adClicked('https:\/\/www.biggerpockets.com\/blog\/giving-your-tenants-a-gift-for-christmas-is-nice-but-is-it-the-right-thing-to-do', ad.sponsor, ad.title, ad.id, 'blockAdClicked', 'blockAd', '')\"\n          target=\"_blank\">\n          <div\n            class=\"py-4 border-b flex flex-col flex-nowrap text-sm border-t px-0 rounded-none\"\n            x-init=\"\n              analytics.track('blockAdLoaded', {\n                referrer: 'https:\/\/www.biggerpockets.com\/blog\/giving-your-tenants-a-gift-for-christmas-is-nice-but-is-it-the-right-thing-to-do',\n                sponsor: ad.sponsor,\n                ad_title: ad.title,\n                ad_page_location: ''\n              })\n            \"\n            x-intersect:enter.once=\"adViewed('https:\/\/www.biggerpockets.com\/blog\/giving-your-tenants-a-gift-for-christmas-is-nice-but-is-it-the-right-thing-to-do', ad.sponsor, ad.title, ad.id, 'blockAdViewed', 'blockAd', '')\">\n            <div><span class=\"text-xs text-slate-light block bg-slate-50 p-1 inline-block rounded-md\">Sponsored<\/span><\/div>\n            <div class=\"flex items-center text-sm space-x-4\">\n                <img :src=\"ad.imageURL\" :alt=\"ad.imageAlt\" class=\"h-10 w-10 object-cover rounded-full\">\n\n                <div clas=\"text-sm\">\n                    <span class=\"font-bold block\" x-text=\"ad.sponsor\"><\/span>\n                    <span class=\"text-slate\/80\" x-text=\"ad.description\"><\/span>\n                <\/div>\n            <\/div>\n\n            <div>\n                <span class=\"font-bold\" x-text=\"ad.title\"><\/span>\n                <p class=\"mt-2 text-slate\/80\" x-text=\"ad.body\"><\/p>\n                <span class=\"mt-2 text-themeBlue block mt-2 underline\" x-text=\"ad.linkTitle\"><\/span>\n            <\/div>\n          <\/div>\n        <\/a>\n      <\/template>\n  <\/div>\n\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Is It a Good Idea?&nbsp;<\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Not so fast, you incredibly kind&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/what-is-a-landlord\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">landlord<\/span><\/a><span data-preserver-spaces=\"true\">!<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">When was the last time one of your business partners or your mortgage company gave you a gift of cash for the holidays? I\u2019m willing to bet the answer is \u201cnever,\u201d so why, as landlords, do we think that\u2019s the appropriate way to show our tenants our appreciation during the holidays?&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Don\u2019t get me wrong: Tenants are the lifeblood of the&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/are-rental-properties-a-good-investment\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">rental property<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;business, and showing them appreciation and treating them well is not only vital to your success but it\u2019s the right thing to do. The biggest challenge here is that discounts and cash gifts tend to diminish the professional tone of the relationship. Providing a discount will blur the line between your relationship being a business and a personal one.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">That said, there are ways to go about this and keep things professional.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">The first thing to consider is that we have a contract with our tenants to&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/6-effective-ways-to-increase-lease-renewal-rates-and-keep-great-tenants\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">provide them with a safe, quality place to live<\/span><\/a><span data-preserver-spaces=\"true\">, which should always be the priority\u2014actually, doing that is more than many landlords are doing in the first place, so if you are one of the good ones, you are already ahead of the game, and that\u2019s an excellent way to show appreciation.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Secondly, as a landlord and property manager, I am a&nbsp;<\/span><em><span data-preserver-spaces=\"true\">huge&nbsp;<\/span><\/em><span data-preserver-spaces=\"true\">believer in the&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/what-to-include-in-a-lease-agreement\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">lease<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;being a binding, two-way street. We expect our tenants to follow the lease implicitly, but many of us think the terms are optional for us.&nbsp;<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Without going down a rabbit hole on that concept (that\u2019s a different article), keep in mind that the lease requires the tenant to pay a specific amount of rent on a specific day every month. By giving them a discount of some sort, you are subconsciously telling them that the lease is flexible\u2014that\u2019s not a seed you want to plant.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">So, What Should You Do for Your Tenants?<\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">That being said, I am not saying you shouldn\u2019t be kind to your tenants during the holidays\u2014you absolutely should. On top of being an excellent and professional landlord, offering a gift of some sort during the holiday season is a kind thing to do.<\/span><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">If you know your tenants fairly well, a modest gift card to a place that interests them is fantastic. If you don\u2019t know them well, a gift card to a local restaurant or shop is always nice. We\u2019ve made it a habit in the past to deliver pies to our tenants as well. Even a simple, professional card wishing them a happy holiday season is more than 95% of the landlords would do, so don\u2019t ignore that option at a minimum.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Final Thoughts<\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><span data-preserver-spaces=\"true\">Don\u2019t forget your tenants during the holiday season. Be the landlord that you\u2019d want to have, but also don\u2019t forget that you are running a business, and it\u2019s absolutely vital that you keep things professional. The most important professional thing you can do as a landlord is to maintain the integrity of your lease by not giving gifts of cash or credit. Predictability, consistency, and reliability are vital in real estate investing.<\/span><\/p>\n\n\n\n    \n  <div id=\"visibility-group-block_f7063176b7f41d56aa63fa630ecef92a\" class=\"visibility-group  hidden\">\n        \n\n<div id=\"hero-block_0989601094828022dc2dce2cbcee396c\" class=\"first:mt-0 hero-block py-4  alignwide   has-background has-theme-gold-light-background-color has-text-color has-theme-gold-color\">\n    <div\n        class=\" flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n\n        <div class=\"relative z-30 w-full \">\n            <main class=\"py-4\">\n                \n\n<p class=\"has-theme-gold-color has-text-color has-large-font-size wp-block-paragraph\" style=\"font-style:normal;font-weight:800\">Get the Best Loan Today<\/p>\n\n\n\n<p class=\"my-3 md:my-5 lg:my-8 has-slate-900-color has-text-color wp-block-paragraph\" style=\"font-size:16px\">Find trusted, <em><strong>investor-friendly<\/strong><\/em> lenders who specialize in your strategy. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<div id=button-custom-event-block_5d24c63b07560bc7681e629bd5602998 class='button-custom-event'>\n      <a\n    href=\"https:\/\/www.biggerpockets.com\/business\/finder\/lenders\"\n        x-on:click=\"window.analytics.track('Blog Block | B2C Marketplace Lender Finder', {\n      referrer: 'https:\/\/www.biggerpockets.com\/blog\/giving-your-tenants-a-gift-for-christmas-is-nice-but-is-it-the-right-thing-to-do',\n    });\"\n    class=\" btn-shape inline-block no-underline has-background has-theme-gold-background-color has-text-color has-white-color\" target=\"_blank\">Find a Lender<\/a>\n  <\/div>\n\n            <\/main>\n        <\/div>\n\n                <div class=\" first:mt-0 relative h-full lg:flex lg:items-center\">\n            <img decoding=\"async\" class=\"object-cover w-full relative z-20 my-0  rounded-md hidden lg:block\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/08\/Marketplace-Blog-Blocks-Lender-v3.png\" alt=\"investor friendly lender, investor friendly real estate loans\" title=\"\">\n        <\/div>\n            <\/div>\n<\/div>\n\n  <\/div>\n  \n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n    \n  <div id=\"visibility-group-block_64dd31c79f00f\" class=\"visibility-group  \">\n        \n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div id=\"hero-block_64dd2875dba9d\" class=\"first:mt-0 hero-block py-4    has-background has-slate-100-background-color has-text-color has-theme-slate-color\">\n    <div\n        class=\" flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n\n        <div class=\"relative z-30 w-full \">\n            <main class=\"py-4\">\n                \n\n<h3 class=\"wp-block-heading my-0 tracking-tight font-extrabold has-theme-slate-dark-color has-text-color has-large-font-size\">Join the community<\/h3>\n\n\n\n<p class=\"my-3 md:my-5 lg:my-8 has-theme-slate-color has-text-color wp-block-paragraph\" style=\"font-size:16px;font-style:normal;font-weight:400\">Ready to succeed in real estate investing? Create a free BiggerPockets account to learn about investment strategies; ask questions and get answers from our community of +2 million members; connect with investor-friendly agents; and so much more. <\/p>\n\n\n\n<div id=button-custom-event-block_64dd2888dba9e class='button-custom-event'>\n      <a\n    href=\"https:\/\/www.biggerpockets.com\/signup\"\n        x-on:click=\"window.analytics.track('Blog Block | Acquisition | Free Membership Signup', {\n      referrer: 'https:\/\/www.biggerpockets.com\/blog\/giving-your-tenants-a-gift-for-christmas-is-nice-but-is-it-the-right-thing-to-do',\n    });\"\n    class=\" btn-shape inline-block no-underline has-background has-theme-blue-background-color has-text-color has-white-color\" target=\"_blank\">Sign Up<\/a>\n  <\/div>\n\n            <\/main>\n        <\/div>\n\n            <\/div>\n<\/div>\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n  <\/div>\n  <\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The holidays are here! The egg nog is flowing along with the cash, and you\u2019d like to keep it that way. You have long-term tenants, and they\u2019ve been great\u2014they pay [&hellip;]<\/p>\n","protected":false},"author":613697,"featured_media":163610,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5183],"tags":[],"class_list":["post-163607","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-landlording"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/163607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/613697"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=163607"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/163607\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/163610"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=163607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=163607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=163607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}