Great tenants for as little as $2 per week

Property investment and tenants

Little things can make great tenants want to stay.

Great tenants will feature on every property investor’s wish list. We all want them. We secretly love them when they are in our property and we hate it when they go. The easiest way to ensure you keep your good tenants is to make sure they feel appreciated.

Whenever a tenant moves in, I give them a small gift. Generally a voucher to a local nursery is great because there is a good chance they will buy a plant, plant it, and then look after your garden! Tenants who pay on time receive Christmas gifts; a box of chocolates, movie tickets and the like. A tenant who is looking after my property (your regular inspections will tell you if they are!) receives a thank-you and a gift too. Little things like this make for happy tenants and they don’t cost much at all.

The lesson to be learned here is twofold. Firstly, make sure you take care of the necessary repairs and maintenance – not only is this a vital part of looking after your own property, but it also makes the tenant happy. Second, put the icing on the tenant’s cake by rewarding them when they do the right thing. Since I’ve done this, my tenants stay longer and, on average, pay higher rent. It’s a win-win situation and it doesn’t cost me more than about a hundred dollars each year (that’s $2 per week rent!).

Never underestimate the value of good relationships to your investment. Look after your tenants and they will look after you!

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