Hi guys,
I own two investment homes, both 4 bedrooms plus a study. I am thinking of increasing the rent, but would like to give something back to the tenants.
Can someone please give me some good ideas on how to do this?
Thank you.
The best one I heard of was an annual Christmas Hamper for the Tenants not that I have done this myself yet.
It depends on how much you plan to increase the rent by. I increase the rent every year but if a tenant is in the property I might raise the rent from $160 to $165 a week. I did this recently and lost the Tenant but the good news is that rents are $210 per week in the area the house is in so I will be able to get a $40 to $50 a week increase but I have to do some renovation work.Hey Kenz
I think it is vitail to have a good relationship with your tennants, not only when renewal comes up but throughout the year. I give my tennants two movie tickets and 4 cruisers (they are only 18, so this suits them) every time that i have a property inspection done and it comes back allgood. This is a tiny cost in the scheme of things are i think it suprises them and builds a good repaw. Then when it comes time to increase the rent if you just justify the reasons behind it, market increases, inflation etc, then i think they will most likely stay.
But i think the Christmas Hamper is a great idea!!!!Cheers Tim
You must be logged in to reply to this topic. If you don't have an account, you can register here.
