Far too often we take the good tenants for granted. As property owners we might think “well they aren’t complaining so they must be happy”. While a tenant might not be complaining they might not feel appreciated.
That could lead them to finding a better value locally in Long Beach or the surrounding cities.
To help you keep tenants happier for a longer period of time consider a few of these tips to show your appreciation.
Gift Card to a Night Out or Even a Cup of Coffee
One of the most stressful times in property management is organizing a repair...of any kind. Whether that is a repair of an appliance, a system such plumbing or electrical, it really doesn’t matter as one has to organize time around the tenants schedule and the respective trade(s) that are needed to complete the repair. In many scenarios the challenge can be resolved in a matter of hours but that isn't always the case. Sometimes, no matter how hard you work, you might have to inconvenience your tenant a bit more than a few hours.
Even if your tenant is easy-going we invite you to consider acknowledging the inconvenience of a repair with a small token of appreciation. If it is a small inconvenience, consider sending a $10 gift card to Starbucks. Maybe it was more of a challenge, like a new oven had to be ordered and it took a few days...then you might get them a nice gift card to a restaurant where they can order the food they might have cooked with the oven.
A small gesture can go a long way and keep a tenant renting for longer than they might have even expected because they know they have a landlord that truly cares.
Letter Informing that Rent Won’t Be Increasing
When you are renting a property you generally aren’t looking forward to a letter from your landlord. You know that generally it is a “notice” of some kind and that hasn’t traditionally been a positive experience.
To change the experience of your tenants, consider that you have completed your
annual rental analysis
and you found that while you could increase rent marginally you feel it is best to hold off on increasing the rent this year.
Instead of letting time pass, consider sending the tenant a letter that states while rent could go up 2%-4% this year you have deemed them a great tenant and will be maintaining their existing rental rate for the coming year. With a simple letter you are showing that you are rewarding them for being a great tenant and that can lead to a happier tenant for years to come.
Unexpected Property Upgrade to Enjoy
Most people enjoy something new and your tenants are likely the same. To show your tenants a bit of appreciation and even add value to your property consider upgrades that even you would enjoy. Here are a couple of ideas:
- Outdoor Area: Consider contracting for a covered patio area that might even include an integrated outdoor rated fan or even bluetooth enabled speakers to have them enjoying the near year-round great weather.
- Appliance Upgrade: For appliances like a washer/dryer that are truly doing the dirty work consider upgrading them prior to the end of their lease to allow the existing tenants to enjoy the new appliances.
There are many other ways you could provide an unexpected upgrade to your property and you could even align it with what you know your tenants would enjoy the most to help them to see that you truly value them.
When you want to find out more about how we show appreciation to our tenants and how we can help you as a landlord in Long Beach we invite you to call us today at (562) 888-0247 or you can even fill out our
Owner Application
and we can develop a custom rental analysis for your property (or properties).
