Hey everyone,
As part of the annual Christmas ritual, I spent today with my grandparents who rent a 2 bedroom house in Gisbourne, Victoria. They have never had much money and have rented for their life – they keep their home immaculate and I cannot imagine them ever giving the landlord trouble.
Sitting down for lunch, there was a knock at the door from the managing agent who, on behalf of the property owner, delivered a gift pack bottle of Baileys and two glasses as a Christas gift to them. My grandparents were both ecstatic and claimed that never had they been rewarded for their tenancy in their lifetime.
Thinking back to one of Steve’s earlier ‘rules’ – that property investing should be ‘win-win’, I realise the importance of rewarding good tenants. Only today on ACA there was a report on a tenant being evicted for not paying rent the day before Christmas. The lack of compassion apparent in this relationship seems to have been what lead to such a measure being necessary.
Tenants in the most part deserve to be rewarded for paying on time, keeping your property clean and tidy, mowing lawns etc. I believe that rewarding your tenants in this way will lead to greater benefits to the landlord in future.
I know this isn’t a question just a comment that I wanted to make. Especially for tenants that don’t have any money – a little gift, a refund of some rent around Christmas, even a card with wishes can make someone’s day like it did for my grandparents.
I hope everyone has a wonderful day tomorrow.
Kind regards,
Nick WalkerHi Nick, I totally agree with what you wrote. I already do that with a long term tennant (10 years). I know when their wedding anniversary is and also ensure that a card is sent to them along with xmas and new year cards.
Ditto…
The more you think of your tenants,(demonstrated as cards, etc.) the less you hear from them… even minor repairs seem to magically disappear!!
Our tenant has been in the same unit for 6yrs and has no plans on going anywhere!!
Dont ever forget that EVERY human being on earth loves a little respect and recognition every now and then!!!“Read books, listen to tapes, attend seminars – they are decades of wisdom reduced to invaluable hours.” – Mark Victor Hansen
Many people may read this post… but I wonder how many truly understand the importance of the subject matter.
Who is doing who the favour?
The landlord for providing the house? Or the tenant for paying the rent?
Your answer will reveal how far your property investing will go.
Regards,
Yoda [^]
a.k.a Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
Hi Yoda,
My thinking is both are helping each other. We want money and they want somewhere to live, it is a little simplistic but it will do for now. To put a slight twist on the situation. How many people have thought of turning their long term tenants or even some short term tenants into wrap customners. If you keep one or two properties as a means of finding tenants that maybe interested in buying their own home you may be able to create future wrap prospects. I’ll leave it for the forum to come back with the pros and cons of this idea.
C
SIMPLY STATED:
My Tenants are my Investment as much, if not more, than my investment property.
They provide cash flow. If I just wanted property as the asset I would errect a monument to myself on the busiest street at the busiest intersection. Sounds silly but its the tennant that makes or breaks, right?
So what i do is keep them happy. I gave a gift basket hamper and a carton of beer/ or bottle of wine to each of my tennants with a card saying “we commend you for the exceptional way you ahve handled your rent account this year – and look forward to being of further SERVICE to you next year”.
I even go so far as to providing 1 free white good (ie dishwasher) to long term tennant if they stay for extra 2 years. i get happy tennant plus depreciation benefits on the whitegood plus increased rental potential attractiveness of the property.
Its all in the tennant happiness management system.
cheers
DAnAgree with all the comments. A tenant who pays their rent on time and keeps your assett in good order is a blessing.
I’ve just had to evict non-paying untidy tenants and it is a relief to see them gone.
The relationship works both ways. We happen to take a lot og pride in our property assetts and try to present them neatly, very clean and well maintained.
Although we have not yet got around to providing little gifts or cards, we are willing to allow pets, provide any extra above the usual maintenance issues and do some garden maintenance.
There are many, many people in society who will never be able to afford their own home, they will often be your best tenants and I think they do deserve some respect and reasonable accommodation, if they do the right thing by you.
They will also be there for the long term.
One of my tenants, from whom I collect the rent on a monthly basis, usually rings me when the rent is due.Thank G-d for common sense and people with heart!
This post is a positive look at property investing and makes me proud to be a human being.
Congratulate yourselves for seeing the bigger picture.Cheers
Sooshie [
]There are no problems, only solutions!
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