Looking for a smart move to keep good tenants — and avoid expenses associated with empty rental units? Savvy property owners and managers have caught onto a stellar strategy. Move-in gifts for tenants are an effective way to increase tenant retention. Maintaining consistent occupancy and avoiding turnover is good for both parties. Certainly for tenants, the predictability of safe and secure housing is priceless. For landlords and owners, keeping the constant rental revenue stream maintains the bottom line. Because move-in gifts are good for both landlords AND tenants, everyone wins with eGifter Rewards. Here’s a closer look at how to retain good tenants with move-in gifts.
Lease Renewals Increase with Gift Card Rewards
Some market climates swing in favor of renters. During a “renter’s market”, supply and demand forces are hard at work. In this scenario, tenants can negotiate cheaper rents and better conditions. This is the time that landlords need negotiating leverage to convince good tenants to stay. That’s where move-in gifts come in. Because everyone loves a thoughtful gift (!), you may be able to come to an agreement more quickly and easily by including move-in gifts as a deal sweetener. Apartment rental incentives can be powerful enough to prevent good tenants from moving!
Reward Timely Rent Payments…with Gift Cards
Many renters purposely delay their monthly rental payments by a few days or more, taking advantage of grace periods. Thing is, those few days are detrimental to landlords who depend on that revenue to fund their mortgage payments and remittance to vendors. Speeding up cash flow is an accounting imperative. This is especially true for huge corporations with hundreds (or thousands) of tenants. Oftentimes, hundreds of thousands of dollars are at stake. Rewarding renters to pay on time (or early!) often delivers a very strong return on the move-in gift investment.
Increase Enrollments in HOA Autopay…with Gift Cards
Taking timely rental payments a step further, tenants and renters who enroll in automatic payments is as good as gold. Recurring and predictable revenue is good business. Not to mention preventing bounced checks — which is costly for all. And, the relatively small expense incurred with move-in gifts is extremely worthwhile. Like all of the other tactics to reward and retain good tenants with move-in gifts, this is another one where everyone wins.
Ensure Kept Appointments for Repairs…with Gift Cards
There’s hardly an incentive or reward scenario for which a gift card wouldn’t satisfy. Does your condo or apartment complex ever have the need to deploy a repair person? Keeping the premises well maintained by fixing leaks, performing paintjobs or repairing drafty windows is important. And, not just for this particular tenant, but to maximize revenue and mitigate future costs across the life of the unit. Reward them for staying home to greet the repair person! Move-in gifts are the way to go.
Move-In Gifts for Tenants…with Gift Cards
Enhance the Welcome Experience
Move-in day is a significant event for tenants, marking the beginning of their residency. Boost the overall experience by providing a thoughtful move-in gift in the form of a personalized gift card. This gesture not only shows appreciation but also helps tenants cover initial expenses or enjoy a meal in their new neighborhood.
Customize Gift Cards Based on Tenant Preferences
Consider personalizing move-in gifts by tailoring the gift card to align with tenant preferences. Whether it’s a popular local restaurant, a home improvement store, or an online retail giant, a customized gift card demonstrates that you value your tenants as individuals, making the gift more meaningful.
Promote Positive Tenant-Landlord Relations
Move-in gifts set a positive tone for the tenant-landlord relationship. It fosters goodwill and creates a welcoming atmosphere, making tenants feel valued from the start. A positive initial experience can contribute to long-term tenant satisfaction and loyalty, reducing the likelihood of turnover.
Moral of the Story: If You Gift Them, They Will Stay
So, when your house, apartment rental or condo unit is already occupied by a good tenant, do your best to keep them! Move-in gifts are the easiest, most affordable, and most well-loved incentive and reward around. Both tenants AND landlords can live happily ever after with eGifterRewards.com.
“The value of a good tenant is obvious when compared to how much it costs to replace them!”
