Holiday Incentives to Retain Tenants

Monday, December 6, 2021

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Tenant retention is a top priority for landlords and property managers, especially in the off-campus housing market. It not only saves money, but often leads to new tenant referrals as well. Word-of-mouth testimonials go a long way in the rental industry.

 

Having a good relationship with your renters is an important part of tenant retention. The holiday season is a great time to build those relationships.

 

Below are a few tips on how to spread holiday cheer to your tenants this season.

 

Themed Baskets:

  • Stay at home movie night basket with snacks
  • Christmas decoration bundle for the unit
  • Care basket put together based on your tenant’s major subject at school

 

Gift Cards:

  • Amazon
  • Indigo/Chapters
  • Wal-Mart
  • Prepaid Visa card
  • Prepaid game cards
  • Music gift cards

 

Holiday Incentives:

  • Early lease renewal offer with a discount on next year’s rent
  • Early lease renewal offer with a new upgrade for the unit
  • Great tenant incentive (for example: tenants with a year without any late rental payments, they can choose a new paint color or upgrade to the unit)

 

By giving a small, non-extravagant gift to your tenants this holiday season, landlords can maintain a good relationship with their renters and ensure lease renewals or positive testimonials in the future.

 

SEE ALSO:  Doing What Is Right Impacts All Rental Property Businesses



The Places4Students.com Team