Posted in Blog  
  on Dec 17, 2015

Accepting or Giving Gifts to Tenants for the Holidays

The holiday season includes giving (and getting) gifts. As a landlord, you’ll probably receive numerous gifts from vendors and other business partners as a way to thank you for your business. You may wonder about passing that goodwill on to your tenants. Should you give them a gift, and if so, what are the guidelines? And what about those loyal tenants who want to give you a gift?


Why Giving Gifts to Tenants is a Good Idea
Handled correctly, giving gifts to your tenants is a great way to inspire loyalty and goodwill. Your tenants will appreciate being recognized as more than just a rent payment.
When you do give a gift, you should express your intentions in words. Just a quick note thanking them for their tenancy will let them know how you feel. If you only have a few small properties, you may even want to personalize the note with the tenant's name.


What Kind of Gift to Give
Gift baskets and gift cards are always popular with tenants. Try to consider the recipients when selecting a gift. For example, if most of your residents are college students, consider gift cards to Amazon or iTunes. For single professionals, you might give a small household tool kit. While you are responsible for major repairs, they can tighten a loose screw if they have the tools.
One of the most popular options is money off the next month’s rent. Nothing commands attention like money, and it will show that you care about more than just earning a profit.
Throw a party for your residents. It doesn’t have to be lavish or time-consuming. You can schedule a specific time for a couple of hours when everyone can get together, or you can host an open house where people drop by a common area or the leasing office when they have time. A few cookies and snacks with soda will make a big impression without taking up a lot of time.


Gifts From Tenants Who Love You
Most of the time, your tenants will consider paying the rent your annual holiday gift. However, there are a few who may want to show their appreciation in other ways. If you went above and beyond or made exceptions to the rules to help them out, they may take the holidays as a time to express their thanks.
Receiving a gift can be more difficult than giving one. In most instances, it will be a nice Christmas card with a batch of cookies or loaf of homemade bread. You can easily accept these gifts in the spirit with which they were sent. However, you may feel uncomfortable accepting a gift with a higher price tag, such as a gift card for a fancy restaurant or an expensive bottle of wine.
Accepting gifts isn’t illegal, but it can make you feel uncomfortable. You may feel it insinuates a special relationship that you don’t have with other tenants. In this case, the best option may be to politely decline the gift. You can offer an alternative, such as asking them to make a donation to your favorite charity. Always acknowledge their gift with appreciation, even if you are declining it.
Use the holidays as a time to foster positive feelings between you and your tenants for the rest of the year and into the next one. At the same time, make sure you maintain a professional relationship in all of your decisions.

 


Related

The Landlord Tenant Board: What it is and When it is Needed

Many times, there are issues between a landlord and a tenant that need to be resolved but are failed to do so, because both parties have gone too far with their actions, and have retaliated in the... More


How to Create a Residential Lease Agreement

Where there is a landlord, there will also be a tenant, and it is no surprise that these two parties can only work together once there is some sort of agreement, contract or a binding deal in place.... More


The Best Sites for Rental and Lease Agreement Templates

Many landlords find it difficult to write and draft a lease agreement. Since every State has its own general template, it can also be difficult to make sure your lease agreement meets all the criteria... More


5 Landlord Forms that Every Landlord Should Have

When it comes to being a landlord, one should know that it is not for the unprepared individual. This should be clear that being a landlord does not simply mean that you will be taking the rent and... More


Landlord Obligations: The Responsibilities of a Landlord

Becoming a landlord is a major deal and no one can simply get up and think, “well, yes I think I should be a landlord and rent out my flat.” If you are thinking that you would like to be a landlord,... More


The Best Landlord Associations for Landlords to Join

If you’re a landlord and want to manage your business in a better way, you should endeavor to get in touch with those industry experts who have the experience and the skills to help you do it. This is... More


The Best Landlord Forums

Landlords and aspiring landlords, do not become as such, without guidance and advice. There is a lot that goes into being a landlord nowadays; in fact, there is so much to learn that it often confuses... More


The Biggest Landlord Problems and How to Fix Them

Renting out an apartment or a house can become a constant revenue source for landlords, but at the same time, it gives rise to several problems. It is a fact that high standards, a strict lease... More


Landlord Tenant Disputes

If you are currently thinking of becoming a landlord only because it helps you have a constant stream of income, you should think twice. It’s not that you should not consider offering your property... More


Unpaid Rent

When you talk about the most common disputes arising between landlords and tenants, nonpayment of rent has to be there in the list. People rent their properties to earn money, and when a tenant... More