I wanted to give you a quick landlord tip about how you can gain that Tenant Loyalty for longer.
When a tenant moves in a new property they have a buzz. It could be their first home, or I might be a larger place than they had before and they have an excitement that they are in their new property and to start the next chapter of their life.
Now, I don’t know if you do this, but some landlords like to give their tenants welcome gifts when they move in. It’s a nice gesture that puts a smile on their face whether it’s a bottle of wine, a little hamper, whatever. It’s a little gift that welcomes the tenant to their new home.
My tip is – don’t give it to them right away.
Bear with me on this.
I believe that you can extend that buzz by given them that gift after they’ve paid their first rent payment. They’ve then had a whole month to move in, get the family round and show the place off; the boxes are all unpacked and they’re starting to settle in.
And then they get their gift from the landlord. You don’t have to spend much money but something small will make them feel welcomed and they’ll appreciate that they’ve been remembered after the initial move in day.
This means, the New Home Buzz that they’re feeling, will last a bit longer. In the long run, the tenant will be more loyal to you and they’ll be a better tenant as a result.
Some landlords can be absolutely tight, they’ll cut corners, won’t fix things quickly or perhaps even properly, and that will lead their tenants to not be as flexible or helpful when it comes to things like rent increases and stuff like that.
If there are challenges with the property; the tenant will be more understanding and more accommodating and you’ll both just have more of a pleasant experience.
And you don’t have to do it yourself. Tell your agent what you want them to do and agree that after they’ve received the first rent payment you want them to drop round a bottle of wine or something on their behalf.
It’ll build a bit of trust and also a better relationship in the long term.
Do you do this at the moment? Perhaps you’ve never given your tenant a move in gift – it’s not too late to start!
Let me know what you do at the moment!