Showing tenant appreciation isn’t just good for the tenants, it’s also good for the landlord. By letting tenants know how grateful you are for them, it can improve their satisfaction and your retention rates. And, we know better retention rates are good for business! 
There are plenty of ways you can let tenants know you appreciate them with or without spending money. Not sure how? Here are a few options to help you get started.
Write a card or a letter.
This is a simple and very budget-friendly way to show tenants you care. When they first move in, you can start with a friendly welcome letter. You may also want to consider sending cards on special occasions like birthdays and/or holidays. You can even send a thank you to them for being a great tenant when you notice that they’ve paid rent on time for several months.
Gift them something.
Everyone loves gifts. Why not consider giving them something to show that you appreciate them? This doesn’t have to be an expensive or showy gift. Something small like a gift card, new soap or gift basket can also be a nice option. Opt to send a gift when they first move in, on special occasions, when they decide to renew their lease or after they’ve paid rent on time for a set number of months.
Arrange community events.
This is a great way to help tenants get to know their neighbors if you are managing multi-family properties. It’s also a fun way to show tenants how much you appreciate them. There are plenty of ideas for in-person or virtual events. There are cookouts, movie nights, virtual watch parties, game nights, scavenger hunts, talent shows, carnival games, pool parties, and more that can be planned.
Give the apartment a facelift.
Nothing is better than a practical and lasting gift. If the properties have carpeting, you may want to consider an annual deep cleaning. Just make sure to arrange this with the tenant. They’ll appreciate having fresh carpets once again, and it helps maintain the property.
Another option is to update any older appliances that are in the property. You don’t want tenants to have to deal with outdated and unreliable appliances. You may consider other upgrades as well, like fresh paint, to give it a quick refresher. Just make sure to give tenants a fair warning.
As you can see, you have plenty of options for showing tenants how much you care. It’s worth a little expense to improve tenant satisfaction and retention.
If you’d like to learn more ways to increase the success of your residential investment, please visit our website https://www.ashburnpropertymanagementinc.com/
