Ideal' Tennants - Part 2

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From: Anonymous


Hi Again Folks

I was just thinking a bit further about my question a few posts below about the 3 young people applying to become tennants of my friends brand new IP.

Now I know you lot can be a very Creative bunch so was just wondering if he decided to give these applicants (2 x 20 yr olds and one 21 yr old - 2 guys, and a girl) the green light, could he offer some kind of 'incentive' for them to be "good" tennants (i.e. take good care of it and not trash the place)...

I haven't give it too much thought but what about stuff like a free weeks rent after 3/6 monthly inspection, a 'cash bonus' if they stay for lease period (and of course keep place in good order).... or any other cash/non cash alternative??

I would love to hear people's genuine 'creative' ideas that they have either used or suggest could be realistically used... I guess something that this age group would find 'attractive'??

Any ideas folks??

Paul
 
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Reply: 1
From: Michael G


Hi,

First thing, you don't want to give cash or sacrifice cash. Rather you want something with a low cash cost, but a high precieved value.

Get a book by Brad Sugars, "Instant Cashflow", its for businesses, but that's what you're running a property business. You are basically marketing to customers (tenants).

Maybe you could approach a locale Cafe and negotiate a weekly voucher for a cup of coffee and a voucher for a crossiant and a movie pass or something.

You see it may not cost you anything, why?, Because if they do go to the Cafe, more than likely they'll drink more than one cup, etc. So the business person may give it out for free.

These vouchers could be attached to the rental statement (after they pay the rent on time), no voucher for late payment.

I haven't tried it myself, but it might work on your target market.

Just a thought
Michael G.
 
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Reply: 1.1
From: Sergey Golovin


May be you can give'm free Internet connection:

# Good for them - it will keep them busy and quiet;
# Good for you - your place will be less damaged and maybe somehow you can claim it on tax (?).

Serge.
 
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Reply: 2
From: Miakat .


I have a house with 5 young tenants (aged 18-21). After their last inspection, which they passed with flying colours I provided them with a microwave which only cost me $20 but they were absolutely rapped.

I have found that they are quite house proud, so I encourage this by fixing everything immediately upon finding out it is broken.

Out of the 9 young tenants I have, 8 are female and I prefer it that way as they don't seem to have the wild parties you expect of young men, and they take really good care of my houses. I have also found that they are extremely appreciative of having a place to live, and they don't want to jeopardize their home.

Miakat
 
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Reply: 2.1
From: Dale Gatherum-Goss


Hi

I suppose I am stating the obvious, but, if they are going to bring pets anyway, why not encourage it, but,

charge more for the rent; and
build into the contract that they must have the place professionally cleaned at the end of the lease.

You both get what you want.

Dale
 
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