While the image of the miserly landlord is a popular stereotype, I believe that a happy tenant; a quiet, undemanding tenant that causes few problems throughout the year. deserves a reward. A pat on the back for making my life easy! Christmas is not far away (the decorations are already in the shops!), and it is the ideal time to say thank you for their cooperation and timely finances, without making it seem unusual. Quality tenants are hard to find, make sure that they know they are appreciated. Happy tenants make happy landlords.
Small acts of kindness like this can have a great effect on a tenant’s behaviour. Good tenants are reminded that they are appreciated, and are encouraged to keep up their behaviour, whilst mediocre tenants are reminded that the tenancy agreement is more than a business contract, and tend to react well. Previous experience has shown that a little kindness towards an average tenant can result in a real effort to improve. In business terms, a small outlay can be rewarded with timely rent payments and fewer issues.
This may seem strange to some landlords, but a 2015 Endsleigh study from the UK showed that despite the poor media coverage of the landlord tenant relationship, some 72% of tenants said that a gift had positively affected the relationship. Most importantly though, the same study showed a large financial reward for the gesture. 70% of tenants that received a gift renewed their tenancy beyond 24 months, compared to 53% of tenants that didn’t. A large reward for a small outlay.
What to buy a good tenant for Christmas?
Choosing an appropriate Christmas present for tenants can be difficult. Often, the relationship between tenant and landlord is not a deep, personal one, so choosing a nice gift that will be truly appreciated can be hard. There are also intricate suggestions made by gift selection. A nice bottle may not start a noisy, boisterous evening or be the start of an unwritten suggestion that the house is permissible as a home for parties, but it may be a little personal. A deeply personal gift may come across as over-intimate or appear strange.
Budget is a big consideration. You do not want to break the bank, and you do not need to in order to make a nice gesture. The best gift for a good tenant is something that will help them relax, help them enjoy their rented home as a haven of peace and quiet. And how better to do that than provide a wealth of fine food, gourmet chocolate and relaxing smells? A family favourite gift basket is ideal for a tenant family, giving something for everyone, and the great joy of routing through the hamper to find all the best treasures within. Of course, the more you know about the tenant, the more closely the gift can be tailored to their tastes, but the beauty of a hamper is that even if you do not know them that well, you can be sure that they will find something that they love.
Landlord Tenant Relationship – Professional or Personal?
Good tenant relationships are really important, and Christmas is a perfect time to underline a mutual sense of appreciation. However, how much do you really know about your tenants loves and passions, and how personal should a gift really be? A gift basket, carefully selected, means that you can guarantee that the tenant will find something that they love, and will enjoy a couple of blissful moments to your credit.
Whilst many landlords would see buying a Christmas present for a tenant as crossing the line between the professional relationship and getting overly personal, there are significant gains in adding a little personal touch to the relationship. The tenant will see you as a person, not a business, and therefore will be more concerned with the way they treat your property, and your rent. A small gift at Christmas will not undermine your professionalism, but will simply add a human touch.