Buying A Home
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Jewel - Gift cards to renters
Jewel, I saw that you give your tenants gift cards at renewals and Christmas. I'm curious what kind of gift card would you give? Avg price range? I never heard of this but I'm sure it's done the trick in convincing your tenants to be model renters!
Re: Jewel - Gift cards to renters
They aren't much, but I think it's a nice gesture for good tenants. If they've paid rent on time every month, and haven't asked for any petty repairs, I send them something
I usually spend $50 - $75. I try to pick something that I think my renters will like. If they have a new baby, I might get Babies R Us, or I might do a little date night combo of dinner/movie. If they are a younger group of people, I might do a more trendy restaurant or bar. If they seem to be living on a really tight budget, I might do Target, grocery store, or a gas station. I'm hoping that they are grateful for any unexpected gift card in the mail. I know I would be.
I budget a certain amount of money per month for rental upkeep. Most of the time, I don't spend any of the rental upkeep money, so I'm happy to spend a small portion of that on a few gift cards instead.
I also include a card, and thank them specifically for being good tenants and making my life easier.
It's not something that I advertise to my renters, or promise in any sort of way. I do it when I think they deserve it (and most of the time they do).
Jumping in, we also give give cards to our tenants at Christmas. Usually only about $25-50 depending on how many tenants we have at the time. Tenants are always very appreciative of the small token.
Thank you ladies!
I think the hardest part would be deciding WHAT gift card to spoil them with.