Do you give holiday gifts to tenants? How do you decide? Each week veteran landlord and property manager Hank Rossi answers questions from other landlords and property managers around the country about their rentals. Here is this week’s question:
Dear Landlord Hank:
My wife suggested I should be giving holiday gifts to our tenants. This is not something I have ever done with the eight current tenants we have. What do you think? And, how do you decide which tenants to give to as we have a couple of them who are always behind on rent, etc. Any guidance would be appreciated.
– Landlord Tim
Dear Landlord Tim,
I certainly understand your wife’s idea of being grateful for someone renting thereby paying the property bills, hopefully with profit on top.
When I first started being a landlord I was thrilled too – I still am!
To me though, this is strictly a business arrangement.
I know the grocery store appreciates me and my business but they don’t send gifts.
I do send Christmas cards though every year. And, I handwrite them.
I’m very grateful for a good tenant. I want to nurture that relationship through good business. That good business means respecting the tenants, taking care of the property and any maintenance quickly and professionally.
I want to makes sure my properties are safe and pleasant places to live.
About the author:
“I started in real estate as a child watching my father take care of our family rentals- maintenance, tenant relations, etc , in small town Ohio. As I grew, I was occasionally Dad’s assistant. In the mid-90s I decided to get into the rental business on my own, as a sideline. In 2001, I retired from my profession and only managed my own investments, for the next 10 years. Six years ago, my sister, working as a rental agent/property manager in Sarasota, Florida convinced me to try the Florida lifestyle. I gave it a try and never looked back. A few years ago we started our own real estate brokerage. We focus on property management and leasing. I continue to manage my real estate portfolio here in Florida and Atlanta. ” Visit Hank’s website here.