The year's almost over, and the holidays are just around the corner, but the current rental crisis has certainly put a dampener on the seasonal cheer. With rents on the rise, tenants are feeling more and more uncertain about being able to afford their homes.
As a landlord, is there anything you can do to lift your tenants' spirits and keep good tenants around for as long as possible? Of course there is!
The holiday season is the perfect time to show your tenants some appreciation. Finding a good tenant is sometimes near impossible, so if you've got a good one, we say hang on to them!
Here are some thoughtful ways to lets your tenants know you appreciate them and make their holiday season a little more joyful.
What makes a good landlord?
A good landlord will respond to maintenance requests in a timely manner, but a great landlord will go above and beyond to make sure tenants are safe, comfortable and happy under their roof.
1. Don’t leave your tenants on read this Christmas
It’s the holiday season when everyone is away or trying to take some time off, so it’s especially important to be regular with responses. Tenants may want to let you know that they’ll be away for the next couple of weeks, or need some help with urgent maintenance work before going on holiday.
The worst thing you can do as a landlord is to ‘ghost’ your tenants and not respond to their messages. It might just be an honest mistake or you could be really busy, but it can lead to a lot of misunderstandings.
2. Give tenants a Christmas gift
You don't need to spend a lot of money. A simple gesture like a Christmas card, gift voucher, or basket of treats can go a long way. A bottle of wine, a scented candle, or a potted plant are also great options.
For a more thoughtful gift, try to think about anything they need. Maybe they mentioned their toaster burned out? If they have kids, diapers or school supplies are a great choice that may be greatly appreciated.
Avoid anything too personal or too expensive, it could bring your tenants more embarrassment than cheer.
3. Give them a rent discount
Consider offering great tenants a rent discount as a gesture of goodwill. It’s not a requirement to offer your tenants a rent discount, but since it's the season of giving, they would likely appreciate it.
While this is a great gesture, it’s worth thinking about a few things like your own financial situation, the tenants track record for paying rent on time and the terms of your rental agreement.
4. Offer a complimentary cleaning service
It’s the holiday season and many people start to think about ways to make their homes look a little nicer. This can be especially overwhelming for renters, who may be busy planning for their vacations and trying to keep their homes clean.
Gifting a home cleaning service can show your tenants you care and want to help. It also helps keep your rental property in good shape!
Just make sure to listen to their specific cleaning requests and understand their needs. This way, the cleaning service will meet their expectations and avoid any misunderstandings.
5. Invest in property security for tenants going on holiday
Here’s a gift that helps your tenants spend a worry-free vacation, and also adds value to your rental property!
Installing security on the property would be a relief to tenants leaving on holiday. It could be a small added measure like quality deadbolts, or even security doors for extra protection. If you can spend a bit more, an alarm system or security camera are great investments.
What would a security alarm system cost?
Installing a security system can vary based on where you live and other factors like the type of system, how complicated the job is, your home insurance, and activation fees.
On average, you can expect to pay between $300 and $4000.
How much would installing security cameras cost?
The cost of installing CCTV cameras in a rental property can vary from around $750 to $1800.
Keep in mind, the actual price might be different based on where you live, the size of the property, the cameras' features, and the cost of delivering and installing them.
6. Organise a community event
If you have multiple tenants in the same area, organising a community event like a barbecue, cook-off, or sports day can be a great way to build relationships. This gives everyone in the community an opportunity to come together, have fun, and get to know each other.
Plus, it's a great way to show your tenants that you care about them and their experience living in your property.
Here are a few tips to make sure your event goes smoothly:
• Choose a date and time that works for everyone - set up a few date options or schedule a flexible Google event.
• Considering the interests of all tenants - create a fun poll to find out what people would be most interested in joining.
• Invite all tenants - no one likes being left out, even if they don't participate.
• Engage with your tenants during the event - start a conversation or participate in activities together.
7. Home maintenance for the summer season
Property maintenance is important any time of year to keep your investment in good condition. This can be a touchy subjects for tenants and with the holidays generally being busier than most times, it can get difficult to keep up.
Instead of giving your tenant the impression that you don't trust them to take care of the property, the holidays can be a good opportunity to improve the property as well as show your tenants that you care about their living situation.
Here are a few maintenance gifts you could arrange over the holidays:
• Servicing the air-conditioner - change filter, clear drainage holes, and seal leaks
• Cleaning the roof and gutters - hire a professional, or use a leaf blower or a power washer
• Trimming trees and removing any overgrown vegetation - consult an arborist, hire a gardener or do it yourself by cutting off overgrown branches and thinning out the canopy.
• Repairing the plumbing system - clean the pipes and replace the sections that are worn out
Like what you just read? Well, there’s a lot more where that came from
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