As a landlord, you should not be restricted to being just a landlord who receives rent and maintains the property — you can host events too! It might require a bit of work but it will produce great results that can be beneficial to you.

Some events do not require a lot of work that you can do every month, like quiz nights where you just have fun and win little prizes (and bragging rights, of course). It would be a sort of recreational activity for them and you can interact with your tenants in a more relaxed environment.

You can host art activities for little kids. This will also be a venue for them to be with other children and will give the parents some time to unwind.

Let’s dig deeper into why hosting regular events can help both you and your tenants.

• Forming a bond among neighbors

The main goal, which is probably the most important goal, is to establish camaraderie among your tenants. When there is rapport, it could lessen tenant conflicts.

This can also help the newcomers feel welcome especially if they are unfamiliar with the area and the people. This will help put them at ease and they can reach out to their neighbors without hesitation.

• Landlord and renters gathering

Events like these create an environment where everyone can loosen up, including the management team. It might be a good venue for some tenants who are hesitant to voice out some issues they have because it is a casual meeting.

• Projects a caring environment

Hosting events is going an extra mile for landlords. The tenants are aware that not all landlords will host activities for them and is just there to make a profit. That is why if a landlord makes an effort to plan and carry out activities, it will show that he cares about the satisfaction of his tenants.

This will convey a caring environment and the renters will want to make things easier for the landlord in return. They will still have complaints but they will be more patient with it.

• Promotes a community with values

This is very essential for your multi-unit properties. Some tenants will go through their lease without even bothering to know their neighbors. Making them spend time doing things together will cultivate them as a community.

Families can spend time with other families. The children can make friends with other children which we all know will be a great help with their social skills. You can also host events for adults where they can take a break from work and adulting just for a little while.

• Referrals

In a generation where advertising is simply a few clicks on a smartphone, referrals can be very easy to get by. Most people spend the majority of their days glued to their phones and social media accounts. A simple appreciation post about your activity can benefit you as this is free advertising.

Satisfied tenants will be more than willing to refer you to their friends and families. Referrals can go a long way with businesses like yours.

• Advertise services and amenities

Although you have all the amenities included in your listing on Padleads, some tenants may not use it at all. They probably don’t have the time or they don’t want to use it alone. For example, the property has a pool that can be used by everyone but your tenant lives alone. He probably will not want to go there by himself and feel awkward. So you can use the pool as a venue for your event.

• Buzzworthy events

You can hold big events if you want and if you have the time for it. Maybe plan an activity that can be of help to the area and not just confined to the building you have. You can reach out to the other people in your community, which would create a buzz in your locality.

Not only will this help publicize your business but it will also encourage others to help out and make a difference.

• Collaboration with local businesses

Build a network with other businesses in your area. Tap them whenever you have an event planned. For example, you can ask a restaurant to cater to your food. This will create an opportunity for them to market their cuisine and they might give you a discount in return or add some freebies with it.

I mentioned the art activities above. Why not ask your local artists to teach basic crafts for the children? Not only will it be fun but they can learn something too. It might even be an opportunity for them to be hired by your tenants to teach art to their kids regularly.

The ideas are endless. You just have to be willing and patient to achieve all this but at the end of the day, the satisfaction from knowing that your tenants had fun and built a community will be worth all that trouble. So, I’m guessing it’s a yay for this.