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Keeping Tenants Happy During the Holidays
By Johnsondandv
- 5
- From the Owner , Guest Posts , Management Tips , Rental Investments , Uncategorized ,
- Tags: Graystone Heights, Property, Rental, sioux falls
- 01 Nov
By Trever Nordlund
For many, the holidays can be a stress filled weekend of hosting the in-laws, running the kids to events, and reliving the past. People tend not to eat as healthy, lose sleep due to the stress of the holidays, and drink more. Through all of this the holidays can be a great way for you –the landlord– to thank the renters. Small tokens of appreciation can go a long way. Encouraging renters to renew their leases and pay on time. This saves you a huge headache! Here are a few things you can do to keep your renters happy during the holiday season.
Check the AC/Heat
Houses in extreme seasonal areas are exposed to a variety of elements like -20 in the winter and 110 in the summer. This can be hard on your renters and rentals. Ensuring you have a strong air conditioner/heater can greatly increase the tenant’s comfort and decrease complaints. Many landlords don’t cover the AC or heat bills, therefore those utilities the tenants are paying for need to be running topnotch.
Check the insulation
Any part of the house that connects to the outside can be a money saver or a money stealer. Having good insulation around these parts of the house will increase the lifespan of the AC/heater because the unit will not have to work as hard to keep the temperature steady. In the long run this will save you a lot of complaints and help increase your margins.
Small Gifts
The price of a quality tenant cannot be quantified. Did you know that that each time a tenant moves out it can cost the landlord $3,711 on average? Download our info graphic to see how this happens. https://expressrpm.com/money-lost-infographic/. We have noticed that a great way to retain Residents is to do small things for them or make an effort to show your appreciation to them. This small token of appreciation can pay off much more than the minimal out of pocket cost by keeping your customers happy. A great Christmas present for tenants is to take some money off of December’s rent. If you are in the black and can afford to take $50-100 off of the rent for 1 month your tenants will be overjoyed. You can even put a spin on your generosity: “Take your $100 from this month’s rent and spend it on someone else. Send us pictures of them with their present(s) and you may be featured on our Facebook page!”
Like I said, the holidays can be stressful. So, spread some holiday happiness! Small business owners know the value of customer service and keeping customer satisfaction extremely high. Your tenants should not be treated any differently. The healthy relationships built with tenants can help to decrease your turnover rate and keep costs at a minimum. Giving small and thoughtful gifts around the holidays is a great way to show your renters you appreciate them. Doing the little things for your tenants can go a long way.
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Keeping tenants happy is an important facts for home owner also for property manager. A happy to tenant will tell about your to their friends. Your gift ideas are awesome.