A rental business will not thrive without loyal customers. Landlords have to meet the tenants’ satisfaction or go beyond it. If there are no renters, the landlords would not gain any income and would end up with vacant properties. So to protect their investments, they have to keep the tenants happy.
Aside from providing the tenants with exemplary services and beautiful homes, landlords can do something extra. Or should I say, go the extra mile? When the clients are happy, they will likely renew their leases. Tenant retention is beneficial for the business because it guarantees a continuous profit. Not to mention the free advertisement when they tell all their friends how much they like renting from their landlord.
One of the things landlords and lease agents can do is give out little presents or incentives that tenants may enjoy. It will help build up a positive relationship with the renters. A good time to give them gifts is during the holiday season. Tenants may find it odd receiving presents on random days, but the holidays are all about giving. They don’t have to be expensive, though. Meaningful gifts can come in small packages.
Give out gift cards.
When I was a child, getting presents would mean toys, new clothes, and books. But when I grew up, I appreciated gifts that had a function. And I now love getting gift cards. For landlords without any idea what to get, gift cards are the best choice. The tenants would have an option to get something they would personally like.
Landlords can hand out gift cards from:
Game Cards
Music Gift Cards or iTunes
Starbucks
Walmart
Amazon
Best Buy
Target
I know giving out gift cards may seem impersonal and easy, but if you think about it, the tenants can choose what they want. It’s useless to buy things they may already have at home. It also saves the landlords’ time thinking about what to get them.
Rent Incentives
Because of the holiday rush, some landlords may want to avoid the crowds and long lines. After all, Christmas shopping takes time, patience, and energy. They could offer rent incentives for their tenants instead. For instance, landlords can give discounted prices on rent.
If they want the tenants to renew their lease early, landlords can offer an early bird discount. Another incentive can be a free unit upgrade for tenants who will extend their stay. If the property manager cannot give discounts, they can grant a free paint job. They do not have to limit their ideas to material items because the options are endless.
Get them themed gift baskets.
If a rental has multiple occupants, landlords may find it hard to decide what to get them. Of course, they would want everyone to enjoy the holiday incentives. But there is no need to worry because there are gifts they can give that will make everyone happy. Remember these three words: themed gift baskets.
What can landlords give to a couple and their children? Well, they can hand out DIY movie night baskets. Landlords can buy baskets that they can fill up with snacks and drinks. They can also include family-friendly movies while they’re at it. With this gift, landlords are encouraging these families to spend time together.
What about those tenants who live alone or single? Landlords can give the men a buddies’ night basket complete with a deck of cards or poker chips they can share with friends. And for the ladies, a self-care basket with items they can use to pamper themselves.
As a leasing agent, you not only have to market the rentals, but you also have to endorse the landlords. You can tell the tenant candidates that a landlord gives out rewards and gifts during the holidays to get them excited. But first, you have to look for those tenants. Sign up and join Padleads today to make that happen. You can post property listings and syndicate them to other websites all over the internet.
Holiday incentives do not have to be expensive presents. Tenants will appreciate gifts that they know landlords thought about with care. It is what counts.