What is your opinion of giving good long term tenants a $ 25-100 gift card like wall mart for Christmas?

I don't do it. Several reasons....

1) No business I work with gives me gift cards...ever. Not my grocery store, not my utility company, not my insurance company, not my bank, etc. The one exception to that is my banker drops off a tin of pop corn...the one with the butter, cracker jacks, and cheese coating. Nice thought, but probably only costs around $25. They receive thousands of dollars of interest from us each month and have for 5+ years. It's simply NOT normal business practice to give Christmas gifts to your customers.

2) What if your tenants don't shop at Wal-Mart? Ever receive a gift card to somewhere you simply do not go? It becomes a hassle to get rid of it.

3) If I were going to give a "gift", it would be something that improves and stays with the property. A new lighting fixture in the living or dining room or a ceiling fan. Upgraded faux wood mini blinds in the front of the house. Or if you have carpet how about a professional steam cleaning for 4 rooms of their choice? Something that reinforces that you care about the home and freshens up the place a bit.

But no, I don't do holiday gifts for tenants. Not needed and very uncommon. Spend money on your contractors and the people you need to show appreciation. Brad 20K does an annual meal at an all you can eat buffet, which I don't know if/how that would work this year with C-19, but if I were to spend money on thanking people it would be on the tradesmen who make my life good and drop what they are doing to fix my properties. Showing holiday favor to employees/contractors is customary and normal.

A gift is a great way to modify behavior. I use them for specialized contractors and service providers that I use.

The trash guy who dumps our dumpster is the person who makes the call if the 12 yard bin is over the limit when that couch is dangling out of it. I absolutely hook these folks up - as they have tough under appreciated jobs that make our lives easier.

I typically do not give gifts to my residential customers but do to my commercial customers. But in light of the folks being great long term customers and how screwy 2020 has been a gift card and a Christmas card saying that you appreciate them would be alright.

You really don't have to wait for a holiday to tell someone that they are doing great. Cards are cheap and I get them given to me routinely from non-profits

It is a nice idea but I have found it can backfire for a number of reasons. First, you never know what they are thinking......they may be insulted by the amount or resent a rent increase thinking well maybe if you didn’t spend money giving out gift cards to all your tenants you wouldn't have to raise my rent.

What happens when they go bad.....I thought it would be ok because you said so yourself I’m a great tenant and you even formally recognized me with a note and a gift card.

Other tenants find out and are resentful....sure I paid late but just once this year you said it was OK and now I don’t get a gift like she did. Why did he get the same as I got I’ve been a good tenant longer than him.

And then it becomes an annual expectation. Where else do you ever get a gift for paying your bills as you’re supposed to do?

But I do tend to recognize dependable contractors who are always there for me.

I will probably text my tenants a happy holidays.

The only time I've given a gift to a tenant was a $100 gift card to a family who had power out for four days because of a wiring problem. They were really great sports about it. I picked a store that I knew for a fact that they shopped at.

If you want to give a gift, then do some sort of upgrade to the house. They will appreciate that (maybe).

Gift giving is tricky.

People "read into" the gift - maybe insulted by the low value compared to the thousands they paid in rent. A gift with a monetary value sets a value on the relationship.

Also the challenge to maintain the program every year.

I DO like the idea of a friendly contact and well wishes. Nice words can go a long way, esp this year. Shows we care. Builds goodwill. Good advertising.

We send a nice card to our residents.

For contractors and EVERY city and county worker, we have a Christmas Luncheon at the local stuff your face smorgasbord. We invite 800 people. Who is more important to your business, the inspector or the lady at the utility company who knows where your skipper now lives??

Both!

About 80 show up. Best investment of the year!

Not sure how to pull this off this year. Talking about an open air food truck/carry out.

Newbies: start with your key people and build from there.

BRAD

For those who like gift cards, gift giving is an art.

$25 at Texas Roadhouse steakhouse (exciting! Celebrate!) will give you a better impression than $25 gas card (boring- they never "see" the gas).

I send Kirkland Chocolate Cookies to our tradespeople, I have for the past few years.

Great points everyone, not sure if I wanted to open that door to my renters as the may expect more. I will keep the giving to my service people.

We gave Sampling of baked items this spring for COVID.

Man oh mercy... I am counting my blessings with my tenants!

We have 36 units of Senior/Disability housing and last year we decided to send Christmas cards to each of them, but then went one step further and made a plate of cookies for each and we hand delivered the cards and treats to each apartment.

You would have thought we gave them a million bucks. I spent a day baking - so nothing major, but the reception was amazing.

Fishsticks, you've gotta love doing anything for seniors/disability persons. They are so very receptive and thankful for the smallest things you do for them, which only makes you want to do more! I digress.

I don't always give something each Christmas, mix it up a bit. One thanksgiving sent an email expressing our thanks for being great tenants. One year holiday card with a notation inside "from us to you a gift of warmth" and enclosed a giftcard toward their energy bill, purchased from the local energy provider.

After reading all these posts The question is:WHY DO YOU ALL FEEL YOU NEED TO BE A "PART" OF YOUR TENANT'S LIVES?

You must feel guilty about SOMETHING!

Need to feel good? Donate to the red cross or homeless shelter or veterans organisation in the company name and on behalf of your tenants.

Tenants are your friends as long as you keep saying and shaking your head YES.

Shake it left to right and say NO and you'll find out real quick how much they love you!

Folks get a grip......

myob, I am going to guess that the biggest underlying reason is because most here would like long term tenants and less turnover. The complete opposite of your model. Just my guess.

You are right in that the reality is that at least most could care less. However, do for one and not the other and they care.

6 bye.

That book could give you nightmares!!!!! The book in my opinion is one sided and uses a LL that most here on this site would stay the heck away from. When you get down in the mud with pigs-- you get muddy. Most here and the LL's we hang with aren't like the ones in Eviction.

Anyway back to my model. Let me point this out. Of 20 or so investor we knew when we started back during the RE book sales boom and people were going crazy for the DEALS TO BE MADE IN RE. My wife and I are the only ones left. I know this because our insurance agent was also an investor and he said one day-- you know everyone else is folded except you 2.

So 6 bye--- look around--- who's model should I follow? We had nothing and got up to 80 SFH's with nothing but work-- hard work. We started out with 30K-- every penny we had on the line.

myob, I like reading your post and need to search all of them because I think your model works for you and you are good at it.

Dee Ann - i LOVE LOVE LOVE our senior housing. I could spend hours a day at the 2 sites, just visiting with people. I honestly think when they see me, they have a telephone calling tree to let everyone know and people come out of their apartments to gather and talk. (6 feet apart of course... and with mask if they want to wear them.) but it gets them out of their units and being social.

A small plate of cookies and we got cards and calls for a week. Cost us much? Nope. Completely worth it? YUP!

Fishysticky-- of all the posts about giving to tenants-- you certainly had the best and frankly the most heart felt. Wasn't insinuating you should feel guilty at all. Anyway who cares what I or others think?