4 Tips for Showing Appreciation to Tenants
Who doesn’t love a word of appreciation? A nod of recognition. A simple thank you. It feels good to be appreciated by the people in our life. And that includes the landlord.
Simple gestures that demonstrate appreciation can significantly impact the development of trusting, long-term, mutually satisfying relationships that will benefit both landlord and tenant. Showing appreciation doesn’t have to be difficult, expensive, or time-consuming. Check out these practical tips for showing appreciation to those folks who keep you in the rental property business.
- Nothing says “I appreciate you” like a thank you note
Take a minute to handwrite a personalized message. Enclose it with the rent receipt, drop it in the mail, or hand-deliver it. Even if the message is short and simple, your tenants will recognize that you took the time to put pen to paper in appreciation of them and their continued relationship with your business.
- Follow through on tenant concerns
We tend to think about appreciation more during the holiday season when, in practice, demonstrating appreciation for your tenants should be a year-round occurrence. And one of the most tangible ways to do just that is to follow up on their concerns consistently with timely solutions. Unfortunately, the same is true of the reverse: nothing shows a greater disregard for them than ignoring or procrastinating regarding maintenance, repairs, and general concerns. Instead, prioritize their needs and create a two-way street of appreciation.
- Make yourself available
Property management never has been and never follow a 9 to 5 Monday through Friday schedule. Issues will arise at the most inopportune time for all involved. A lost key at 1 am, a flooded laundry room floor at 6 in the morning, to name only two of a million possible scenarios. It’s up to you as the property owner to ensure that effective channels of communication exist whereby tenants can access the assistance they need. This year-round demonstration of appreciation will strengthen the tenant/landlord relationship and boost retention rates.
- Incentivize lease renewal
Everyone loves a bonus, a discount, or something for free. An expression of appreciation to a loyal, conscientious tenant could be a discounted rent charge during the first month of the new lease. How about a complimentary professional deep clean before the holidays or another busy season? Maybe treat the property (and the tenant, too!) to a fresh coat of paint in the main living areas, an appliance upgrade, or new flooring in the kitchen. Incentives to renew the lease send a clear message, we appreciate having you as a tenant, and we hope you will continue to be our tenant. Your demonstrated interest in the upkeep of the property benefits both you as the owner as well as the tenant, who will enjoy the improvements and be enthusiastic about continuing the landlord/tenant agreement. A win-win situation if ever there was one.
Solidify those tenant/landlord relationships with ongoing demonstrations of appreciation. You won’t be sorry.
About Rentals America
Rentals America provides full-service property management for residential rental properties. Our team is completely dedicated to property management and we’re here to help landlords navigate the rental market.
