Developer · Garland, TX · Member since 2008 · 8k+ posts · 4k+ votes
Last year I considered gifts, but didn't do it. Yesterday I did, and it was a lot of fun. I took my 18 YO daughter and 4 and 5 YO sons to Costco, then to 14 tenant homes across 3 counties delivering cookies. Honestly, part of it was to help teach the boys how it is "more blessed to give," but I also think of my tenants as clients and truly want to show appreciation.
I texted or called a few minutes before arrival at each home and in most cases someone was home. I intentionally did not go in any homes, but simply left the gift with Christmas blessings. We had a blast, though the whole trip took 6 plus hours. I plan to do it again next year.
Have you done anything for your tenants at the holidays?
Investor · Holly, MI · Member since 2009 · 95 posts · 23 votes
15y
All I can say is "Wow" at some of these comments. I send a Christmas card with a small gift certificate from Kroger. I will continue to treat my tenants as a customer that puts money in my pocket. After all I did screen them and allow them to move into my property.
Real Estate Investor · Member since 2009 · 34 posts · 8 votes
14y
Anyway, as far as gifts go. I hear people saying "that's all fine as long as you don't have a lot of tenants" or some such. It's a card people, maybe with a box of candy.
My business partner and make $200 a door on average for our long term rental properties, a $25 gift is like .01% of the profits we make over the course of a year on any given unit.
???
Is money that big of a deal?
I am a strong believe in the "you get what you expect" philosophy in life. Ever wonder why the most crusty old landlords have the worst attitudes about tenants yet end up with the worst ones?
Much of it comes down to their viewpoint, that negative "the tenants should get the back of my hand" vibe just shows in every action they take. It should come as no surprise that they get the tenants who will take any property because they just got kicked out of their last one.
Give a card, treat people like people, it will go a long way to making you happier and creating wealth.
Put it another way, everything you do this (or any business) is about sales. Never forget that. When you sell something you never close the deal based on "features" or "benefits" you close the deal on emotions. Where someone decides to live is a very personal and emotional thing.
Funny, you can say I am crazy but we have VERY low vacancy rates and an EXTREMELY low late payment % on our properties. If you are having a lot of problems with your tenants you might want to take a minute for some self reflection.
Landlord · Syracuse, NY · Member since 2011 · 120 posts · 96 votes
14y
We mostly have tenants that fall into the category that Jon would give a gift to, and a few that Marc would recognize. We are always in the process of hustling the second group out and replacing them with more of the first group.
It seems to me if all your tenants are bad, then you need to screen better. Maybe you're sacrificing quality to be in a low-income neighborhood, or you accept Section 8 or PA or whatever. If so, that's your choice, but don't ***** about every tenant you've got. You picked them.
Real Estate Investor · Member since 2009 · 34 posts · 8 votes
14y
Originally posted by Craig Shute:
We mostly have tenants that fall into the category that Jon would give a gift to, and a few that Marc would recognize. We are always in the process of hustling the second group out and replacing them with more of the first group.
It seems to me if all your tenants are bad, then you need to screen better. Maybe you're sacrificing quality to be in a low-income neighborhood, or you accept Section 8 or PA or whatever. If so, that's your choice, but don't ***** about every tenant you've got. You picked them.
EXACTLY!
I would only add that they also picked you. You picked each other for various reasons. If a bad tenant picked your home to live in then I think it would be prudent to ask yourself why.
As Craig said, if you choose to invest in bad areas because you want a higher rate of return etc. then you should expect to get more hassles....
But EVEN with the people who are slow paying regardless of the area, do you honestly think treating them like a pay check is going to help matters?
Residential Real Estate Broker · Las Vegas, NV · Member since 2011 · 17 posts · 0 votes
14y
There's always something to ruin a good thing isn't there. I think the thought was nice, and it's refreshing to see people who actually care about their tenants, but unfortunately this country has become addicted to suing eachother over everything. It's quite sad really.
Mobile Home Investor · Spanaway, WA · Member since 2008 · 1k+ posts · 578 votes
14y
Being in the "C" rental market - calendars & pens with your advertising on them seems to be a big hit with residents. It does not cost that much ordering in bulk and they seem to really enjoy them.