I have a tenant moving out after a one year lease. They have recommended a family member move in and she seems like a good tenant. Of course, we'll go through the ususal application/checks, but let's assume everything passes with flying colors. I'd like to offer the old tenant a reward for the referral. I'm thinking of adding in a little extra (maybe $100) to their returned security deposit.
Your ideas? Your experience?
Id make sure it’s not cash , I’d do something that can be traced for tax reasons , maybe a gift card to a restaurant or home depot . Be sure it can be written off
Thanks @Dennis M. A gift card is a good idea. I think we're limited to $25 for tax purposes, which we spend on a small holiday gift each year.
Their reward is that you’re providing their family member with a nice home. Nothing more is needed.