As yet another holiday season approaches, it comes time to make up a gift list – and if you own residential rental property, you might want to consider putting (or keeping) your tenants on the “nice” side of the page.
Even without spending a lot of money, giving holiday gifts to your tenant(s) can pay off some big dividends – primarily because it shows that you care. And in some cases, a small trinket of your appreciation that essentially “thanks” for them keeping your property in good shape could be just the catalyst that entices them to sign on for another year (or more).
While there is a wide array of potential gift options that you may choose from, some of these could include:
- A container of holiday cookies
- A poinsettia or other nice plant
- Muffin mix that is set inside a cute tin
- A gift card to a local restaurant
There are other ways you could go with your gift, too, such as giving your tenant(s):
- A “free” monthly or quarterly landscaping or cleaning service that takes care of the outdoor and/or indoor maintenance that the tenant is otherwise responsible for
- An upgraded appliance, such as a refrigerator or dishwasher
- A slight “discount” in the rent amount if it is received before the due date
It is amazing what giving a gift to your tenant(s) can do, and how it can benefit both you and them.
Even so, managing and maintaining rental property can still be a lot of work. So, if you’d like to gift yourself more free time – while still having your real estate investment(s) generate income – then bringing a local, experienced property management team on board could be the answer.
If you own rental homes or units in Orlando or Central Florida, contact Incentive Properties today and we will provide you with more details on how our services can be a win-win for everyone involved.