Rental Property Investor · Brooklyn, NY · Member since 2019 · 106 posts · 47 votes
Fellow Landlords,
Given our tenants are our main customers, and the fact that the holidays seasons are approaching. I was curious to know how creative you all get when it comes to treating your customers for the holidays? How do you treat your tenants? What gifts do you give them? (if any)
Hi @Ley Nezifort. We give them tins full of Moose Munch (which is basically popcorn, caramel, and chocolate) and a hand written card wishing them a happy holiday.
@Ley Nezifort I have always gotten my tenants a small box of chocolates from a local candy store that I like to support. The boxes cost around $5-7 each and look beautiful. In addition, I can get sugar free for some of my older tenants. I only get something for the tenants who pay on time all the time.
@Ley Nezifort generally speaking it is a bad idea to give gifts to tenants. Your role as landlord is to take care of the property and allow them quiet enjoyment. The only time they want to hear from their landlord is when you are fixing a problem.
The problem with giving gifts is it gives the perception that you have extra. Tenants can feel frustrated when a landlord raises rents, then gives them gifts. It sends mixed messages. Tenants may also feel obligated to give gifts to their landlord in return. There also becomes an expectation of a gift every year. In the future when you have a bad year and choose to not give a gift, it appears you are being cheap.
Tenants don't expect gifts and whether you give them a gift or not will have no effect on how long they stay at your property. No tenant is going to think to themselves, "I was going to move out next month but after getting this $25 gift card, I will stay another year." People move when their needs change. When they want to upgrade their life style or need to change location.
There is nothing wrong with sending a holiday card thanking your tenant for their loyalty, but I wouldn't do any more than that.
We used to give tenants a $25 gift card each year. Rarely would I get a thank you, and have never gotten a gift in return. I am not expecting a gift, but now feel that a gift provides little benefit to my business.
This year I am giving gift cards to my handyman, real estate agent, and very patient tenant (long time to finish repairs due to mischievous squirrels).
I may still send a Christmas card with handwritten note.
"Make sure you keep paying...We know where you live. Happy Holidays!"
Kidding! We have an STR and for last year we left our renter over Christmas (came into town to visit relatives) a gift card for the cool restaurant down the street ($50) with a note that actually said "Thanks for staying here with us, Enjoy your Holidays!" We have one this year for 4 days and will do the same thing.
The same thing the electric company, water company, gas company, insurance company, Verizon, Apple, Dropbox, Cozy, Microsoft, Lowes, plumber, electrician, accountant and HVAC company give me. Reasonable products and services and I pay them for it. No need to add complications.
im not interested in making their Yule tide gay .. I give them a roof over their head and a warm place to crap . .. and to be frank , That’s more than what half of them deserve so I’m doing my part to make the world a better place
Very good points. I never looked at it that way. However, I do give gifts in a form of a rent credit. Of course, they have to be in good standing. Right or wrong, that's what we do.
@Joe Splitrock tells it like it is. There is no such thing as an appreciated gift from a landlord that is not a straight rent rebate. It just does not happen. Even if you give them a card wishing them the joy of the season the first thing they'll think about is how much money you spent on the card.
@Ley Nezifort It’s disappointing to see some of the grinches in this post. You’re allowed to give a gift as a tax write off to your tenants and I take advantage of it each year. While you don’t have to splurge, a small act of kindness can go a long way with communication and retention. If you’re a big time investor with 100 plus doors, then I get that your gift can seem unappreciated but smaller portfolios or self managed properties, the tenants notice. Every year I’ve given to my tenants they always shown their gratitude (but I only give to those who pay on time).
I don't give christmas gifts to tenants. I do give christmas gifts to employees. I do a welcome gift basket in my entry level apartments and we leave a roll of tp in each bathroom, paper towels in the kitchen, and bottled water in the fridge at every turnover.
@Martin Neal Yea it’s definitely been interesting viewing other’s viewpoint on this. I certainly agree with you. Good point on the tax write off though, wasn’t even thinking along those terms.