Rewarding good tenants

Agreed. I see it as a business move. The same as a little bonus for the staff at Christmas. Generates a bit of good will and respect. Hard to put a $ figure on that.

That's true. You could think of it in the same way - "hey I pay you your wage so that's that". A good employee should continue to be rewarded above and beyond their base salary.
 
I'm not sure why I would reward my tenants by them following the terms and conditions of the lease that they signed. I think it's enough of a reward that I give them good quality, clean, safe properties to live in (that are maintained in a timely manner).

Each to their own I guess.
 
I'm not sure why I would reward my tenants by them following the terms and conditions of the lease that they signed. I think it's enough of a reward that I give them good quality, clean, safe properties to live in (that are maintained in a timely manner).

Each to their own I guess.
My thoughts exactly, its not as if the tenant has done anything special that requires any sort of reward.

This sort of entitlement/gifting/tipping mentality is a bad thing to instill in anyone imho.
 
This sort of entitlement/gifting/tipping mentality is a bad thing to instill in anyone imho.

Like my father in law says in his thick accent - "TOO MANY PRESENTS IN THIS COUNTRY"

Presents for tenants lol. Same goes for employee's, do you think they will work harder if you give them a bottle of red a crissy? If you are good you are good, you respect the agreement and deliver as obligated.
 
I see the problem with rewarding tenants with little gifts is that they then expect it and a precedent has been set.

If you don't give them a gift at some later stage, this p****s them off and they become unhappy tenants.

If no gift to begin with they would still be happy.
 
I personally think it would be a nice touch but not essential. I've had many years of being a tenant in my time.

I think the best way that you can reward tenants is to annoy / inconvenience them as little as possible. Owners going in to do their own repairs really annoyed me. It always took much longer than an agent-appointed plumber or handyman. I also viewed it as an intrusion and just an excuse to be a sticky-beak.

Totally agree.
Some people are naturally generous - we all love them.
I wouldn't give anyone a gift because to me, it imposes the supposed status quo of master/servant; rich/poor; advantaged/disadvantaged or whatever.
In fact, my tenants live in houses and units that are better maintained than the one I live in.
Do not enjoy landlord visits!
 
I see the problem with rewarding tenants with little gifts is that they then expect it and a precedent has been set.

If you don't give them a gift at some later stage, this p****s them off and they become unhappy tenants.

If no gift to begin with they would still be happy.

I understand this - we have been given a bottle of wine and another time a huge hamper when we purchased a property. It was a huge let down to buy another ip and get nothing! The disappointment more so than expectation was set up by the precedent set by others. It sure was nice to get a pressie!
 
I understand this - we have been given a bottle of wine and another time a huge hamper when we purchased a property. It was a huge let down to buy another ip and get nothing! The disappointment more so than expectation was set up by the precedent set by others. It sure was nice to get a pressie!

what got on my goat was when someone bought a PPOR off me, I paid the agent close to $30k comm, the pain in the A buyer got a bottle of champagne from the agent. Let's see champagne or invoice... nice taste, bitter taste

re the topic of thread. No, no presents, gifts, movie vouchers, trips to las vegas. Just pay the rent on time and everyone is happy
 
Doesn't hurt to be a giver. But how you or the agent treats the tenant is more important.

Eg. If the tenant hasn't been happy with the treatment or state of repair, then when they give the notice to vacate they may not let you show the property to prospective tenants prior to the vacating date.

Finding a tenant within that notice period is key to reducing vacancy.

Just something to think about...
 
Doesn't hurt to be a giver.
It does when providing a reward for no reason becomes a "given" every year
But how you or the agent treats the tenant is more important.
True.
Does the tenant ever buy the agent or owner a gift for meeting their requirements as per the tenancy agreement?
Nah, didn't think. :(
 
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I see the problem with rewarding tenants with little gifts is that they then expect it and a precedent has been set.

If you don't give them a gift at some later stage, this p****s them off and they become unhappy tenants.

If no gift to begin with they would still be happy.

I agree. If you start you need to do it consistently.

I do once off ones if what I am doing is really inconveniencing them. I did a hamper for each tenant in the block once when they lost their off street parking for a while.
 
It is one thing to be indifferent and choose not to venture beyond "contractual obligations"; another to have the sense of self-entitlement that landlords "are a god-send to the tenants" and that "you are subsidising their housing and/or lifestyle" and therefore cannot justify why others would even consider being nice to their tenants.

Maybe I am in a different boat ? I see my tenants as my customers and I do my best to keep them happy. They are the ones subsidising my lifestyle and housing and I wouldn?t be able carry as much risk in my investments without their rent. Although they might not have the financial ability to purchase a similar type of housing right now, they are the ones subsidising my investment lending and I am the one enjoying the capital growth. One thing I know for sure - my tenants can survive or find a different place to rent a lot quicker than I can find similarly good tenants to "subsidise". :)

I guess this may also explain why my tenants are happy to extend their leases (and even offer a higher rent) even though there are many vacant properties advertised for much lower rent (that continues to be marked down by the week).
 
Not another 'gifts for tenants' thread?
I reward them by providing subsidised housing, maintaining their living space to a suitable standard and not kicking them out on the street. ;)

If I had $1 for every thread about "rewarding" "good tenants", I'd have ... lots of dollars. :D

It's become a bit of a standing joke around here.
Agreed!

It can't always be "just business", there is a human element in everything we do
Yes it can!

I provide clean, well maintained properties at market rents. That's my part of the equation. The tenant is to provide rents on time, and to look after the property. If we both keep up our end of the agreement, everyone should be happy. No need for gifts.

Does Telstra give you a gift when you pay your bill? No? Well then why must so many people want to give a tenant a gift for paying their rent? This is Business, not a Charity!

Prop's approach is one I favour, and reckon it covers Nate's "human element". A single mum recently wanted a security door and sensor light. Done! Reasonable request, adds value, she's less likely to move after the next $5-$10/week increase. Win-win-win.

Yes, that one I understand. It's a win-win. Not a meaningless handout.
 
I guess this may also explain why my tenants are happy to extend their leases (and even offer a higher rent) even though there are many vacant properties advertised for much lower rent (that continues to be marked down by the week).

Must be a bloody good gift you are giving them! :rolleyes:
 
It does when providing a reward for no reason becomes a "given" every year

True.
Does the tenant ever buy the agent or owner a gift for meeting their requirements as per the tenancy agreement?
Nah, didn't think. :(

Yep they do, you thought wrong Dec, Ive had a tenant buy me gifts, and another tenant buy my wife a birthday gift. I have also shouted some of my tenants a meal at a pub and it was the best investment I ever made. I must admit though it helped that they were lovely vivacious intelligent young nurses, with benefits........they referred to me many good tenants and three recruitment agents responsible for recruiting and accommodating the best people from around the world.
 
Yep they do, you thought wrong Dec, Ive had a tenant buy me gifts, and another tenant buy my wife a birthday gift. I have also shouted some of my tenants a meal at a pub and it was the best investment I ever made. I must admit though it helped that they were lovely vivacious intelligent young nurses, with benefits........they referred to me many good tenants and three recruitment agents responsible for recruiting and accommodating the best people from around the world.

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Reality for the 99% will be similar to the experience we had when green where we did as some suggest and all that happened was the tenant and the PM at the time saw us as a soft touch not to be taken seriously , fools with their money soon to be parted or "mates", where rent could be late or not paid at all, silly demands made and expected to be met and trades could charge what they wanted.
Those two years of being nice cost us money and a fast lesson was learnt.
Its a business not a charity and we are not in it to make friends with tenants

We got a fast dose of reality and a new PM and the same properties turned around within 6 mths to ones that were a lot less trouble with better tenants and the cashflow did increase markedly.
 
I personally write a short letter thanking them being good tenants. and a $50 gift card. Come to think of it, $50 a year equals only $1 a week as a reward. They pay hundreds of dollars to me every week. :)
 
I personally write a short letter thanking them being good tenants. and a $50 gift card. Come to think of it, $50 a year equals only $1 a week as a reward. They pay hundreds of dollars to me every week. :)

Can we see these letters you write? :D


lol...
 
Some posters in this thread seem to have difficulty differentiating between a reward and fulfilling your contractual obligations.

Landlord receives rent, tenant receives right to occupy. This is not a reward on either side.
 
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