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Screw cash flow… It’s overrated! 🙂
Seasons Greeting!
Day 1:
Day 2:
This is my favorite time of year… but I’ve still got a lot of work to do…
Fight On!
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{ 4 comments… read them below or add one }
Are you selling real estate full time now? Or are those texts from tenants?
Eric,
Those are texts from tenants. Just finding a way to give back, especially to those who always pay on time and make my life infinitely easier.
Happy holidays!
Nice to see that you are rewarding your good tenants. Particularly with owning rentals out of state, it certainly builds good will.
While I have not gone the route of gift cards with my tenants, I make it a point to provide excellent customer service. Instead of putting band aids on things, I buy top of the line new items and over improve even when it does not necessarily call for it. The way I look at it, it is improving my property and is a tax write off. Plus, I am showing my tenants that I really do care about providing them a very nice place to live.
Midwestern Landlord,
Definitely, and I think those little touches do make a huge difference; I try and buy high quality (but still affordable) replacement items as well that not only look good but will last for a long time.
I don’t mind plowing some of the cash flow back into the property… And keeping your best tenants around long-term is essential. I’d rather shell out a few bucks for some well deserved gifts every now and then as opposed to having to look for a new tenant and having to deal with another vacancy/repair situation again and again. Nothing will decimate cash flow like a vacancy, as I’ve learned over the years!
And lastly, it feels good to give back 🙂
Take care!
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