Investor · Irving, TX · Member since 2015 · 34 posts · 16 votes
Hello.
Learnt so much from this community. thank you one and all.
I have bought 3 SFH in dallas area in last 1 year. come Christmas I am thinking about sending gift cards to all my tenants. can I charge this as tax deductible?
I own 22 units and send my tenants holiday cards with small ($10-20) gift cards annually, usually to Starbucks or a local bakery. Have done this for many years. I write it off as an advertising expense. The tenants really appreciate it and it means a lot around holiday time when they may be stressed for money. I appreciate them paying their rent every month year-round. It feels good to give something back. Interestingly, in seven years of owning rental properties I've never had a single eviction, non-payment or place trashed. Might be good luck, or treating people well. I'll keep hoping for good luck and treating others the way I'd like to be treated.
Newbie landlord. Gift cards to your tenants! That is hilarious!! Here is my gift to my tenants; Pay the rent on time in Nov and I won't give you a three day notice then put you out on the street in December! LOL
Just curious if any of the services you use sending you a gift card; gas company, electric, water, insurance broker, doctor, dentist, grocery store? I love newbie landlords. So grateful to have someone paying the rent like it is some miracle of business. Get a few dozen houses and do it for more than 10 years. We'll see if you're still sending gift cards out. Too funny.
I own 22 units and send my tenants holiday cards with small ($10-20) gift cards annually, usually to Starbucks or a local bakery. Have done this for many years. I write it off as an advertising expense. The tenants really appreciate it and it means a lot around holiday time when they may be stressed for money. I appreciate them paying their rent every month year-round. It feels good to give something back. Interestingly, in seven years of owning rental properties I've never had a single eviction, non-payment or place trashed. Might be good luck, or treating people well. I'll keep hoping for good luck and treating others the way I'd like to be treated.
Newbie landlord. Gift cards to your tenants! That is hilarious!! Here is my gift to my tenants; Pay the rent on time in Nov and I won't give you a three day notice then put you out on the street in December! LOL
Just curious if any of the services you use sending you a gift card; gas company, electric, water, insurance broker, doctor, dentist, grocery store? I love newbie landlords. So grateful to have someone paying the rent like it is some miracle of business. Get a few dozen houses and do it for more than 10 years. We'll see if you're still sending gift cards out. Too funny.
Curious, how many vacancies or evictions have you had to deal with in the past 20 years? We've been giving gifts to our tenants every year for the past 20 years, they have told us how much they appreciate it and how no other landlord has done that for them. We have tenants that have stayed with us for over 20 years, we have had 0 evictions, and vacancies for less than 3 days (since we have a waitlist filled with family members of our current tenants who have heard of our generosity and good treatment of our tenants). Oh, and by the way, we also host a huge easter party and egg hunt for our tenants' kids!
We've noticed that when we treat our tenants like family, they tend to pay rent all the time, on-time, they stay longer, and they have their family and friends wanted to rent from us as well.
@Ricky Dominguez I give mine a deduction in their January rent as a present. No outlay of cost to me and they can use the saved money however they like. Maybe when I’m making more pure cash flow I’ll be able to give a real gift but for now at least some of them have expressed their thanks which of course was not my reason for doing it. My reason like yours is to try to generate longer term tenancies and better feelings of good will.