I was just thinking recently, that there is a lot of landlording advice that deals with the switch side of enforcing leases and evictions and deposits. Is there anyone that uses bait ( positive reinforcement ) to make a better relationship with their tenants that are abiding by the leases, thus possibly lengthening their stay, and lessening the potential for damage?
My idea would be something like a Christmas Turkey for those that pay on the first every month during the year, along with a thank you card for them being a conscientious customer. Any other ideas? Something that may add to word of mouth advertising as tenants talk to people.
I have several “tenant friendly” paragraphs in my leases like I’ll release you from the lease if you buy your own house, etc. I also have “service guarantees” like how long it will take me to respond to issues.
For the Holidays, we gave a gift certificate to local restaurants. If I have tenants paying me $10K+ a year in rent, I can afford to send them to dinner for $50-100 once a year…
I do the same thing (usually $20), but I don’t offer any incentives, etc for on-time payment.
A great incentive for rental payments would be to offer the tenant $20 off of the rent payment if the payment is received 5 days or more early. A lot of good tips for landlording can be found at http://www.mrlandlord.com/
Mary - When foreclosures are up, especially now when credit is tougher, there should be stronger demand for the rental market…Why is Ga. different?..Curious…
i think it might have to do with the quality of renters?