Holiday Gifts for the Residents?

Question

Greetings, Fellow Landlords

Since Holiday time is around the corner, I am looking for recommendations about what do you do for your tenants if you do anything? We normally, before covid, had different goodies delivered to the tenants' doors. For example, cakes, pies, cookies, candies and etc.

Not sure what to do this year. I was thinking about getting something online and share. Something like an electronic book, online gym session, online health class.

Please share your ideas. Cheers!

Joe Splitrock · Answer

@Valentina Naumenko most of the things you named may not be enjoyed or used by half the people. There is nothing worse than getting a useless gift. It just leaves the tenant thinking, "great I am paying for this crap with my rent". That brings me to my point, which is give them nothing. A tenant only wants three things from you:

1. Be responsive to problems at the property.

2. Stay out of their business.

3. Keep rent as low as possible.

If you still choose to give something, offer a rent discount or something everyone can use like a gift card to Target, Amazon or a local grocery store.

Sharlene Mulchandani · Answer

@Valentina Naumenko Gift cards to Amazon or their local restaurant would be nice. You could also buy them something small, like a house plant or candle. Along with a small gift, I suggest adding a handwritten thank you card as well, to show your appreciation for them.

Patrick M. · Answer

@Joe Splitrock right on.

I used to say it more brazenly... but the bottom line is that if you are a great landlord, you have given your tenant what 90% of landlords haven't. I understand that there are people on here who develop feelings for their tenants and want to show them gratitude.

I will be completely honest and I think many will agree, when you have cash-flowing properties it is very difficult to contain the gratitude you will feel! It is a life altering event and you want to show your appreciation. I can tell you- directing it toward your business as a whole is much better then toward the tenant.

Examples:

1. I have 2 buildings with a shared yard that everyone enjoys. One tenant said to me, "do you mind if I get a grill?" Yes I did mind, I don't want a crappy grill or charcoal grill sitting out there. But when I said to her- "That is a great idea, I am going to provide a grill." I went out and bought a nice gas weber and the thanks that came pouring in from all the tenants was rewarding. And when I list a unit, that yard looks so much better with a nice shiny grill!

2. At the start of the pandemic I had tenants express and interest in getting wrapped quarters from me for the laundry. Coin shortage, banks closed, etc. so I was more then happy to do so. Then I started researching coin changers and found one on craigslist in the next state, they are expensive devices, but I got this one for $300. We installed it very nicely really adds a clean, professional look to the laundry room. Oh man! what a win for all involved! Again, texts coming in with thanks and now I just collect bills and poor the quarters from the machines to the hopper. And of course, that shows very well.

Now, could I have spent as much on gift cards as was spent on either of those items? Absolutely. Would it have meant a damn bit to the residents? Nope. Is there something you could do that is directly related to the betterment of your asset which will reward the tenant? New showerhead? New doormat outside? New mailbox? etc.

Joe Splitrock · Answer

Amazon is great, but I would suggest not giving tenants candles. Fire hazard and wax is horrible to get out of a carpet. My lease says no candle burning. Honestly a hand written thank you is worth more than some low value gift. Most people just want to know they are appreciated.

Valentina Naumenko · Answer

Thanks, @Joe Splitrock. Indeed, it is valuable point. Amazon e-gift cards is actually a great idea.

Dennis Wayne · Answer

Are you freaking kidding me ? What a Silly foolish unscalable gesture that only a hobby landlord with 2-3 units would do . What are you going to do when you get dozens of units ? Go around door to door like Santa clause buying them useless crap they don’t even want all day ?

When they get the worthless trinket from you they will just assume their own hard earned rent money bought it and that you have so much excess that you just blow it to spend for your end of year tax reasons . No good deed goes unpunished!

Zachary Ray · Answer

This dang COVID is messing up even how some people gift things to others. I bet many are not giving edible items unless they are store bought. Crazy times...

Tracy Streich · Answer

Do something very practical.   Gift card to grocery store or buy a pre packaged meal from the deli or Costco.  Anything you do will be more than they expect.

Julio Garcia · Answer

We're getting them gift cards, nothing extravagant, just a happy holidays git.

Holiday Gifts for the Residents?

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