Sending a Gift to a Tenant...

[Nir]

Hi All,

I wanted to ask what you think about this idea that I learned about here from `DWB`.

I had this same situation recently. Is it a good idea, in your opinion, after lateness, after 3 months of timely payments, as a gesture of appreciation to reward the tenant for this timely payment behavior, to send them like a $15 Blockbuster/Swisschalet gift card or something? Should it be like $15 or $50??

The idea is to clearly say that you appreciate their recent timely payments of rent.

Lastly, it`s a triplex. should I send a small gift to all tenants for paying on time or only to the one who was late? they talk to each other. so why reward only those who were late and now pay, right on the other hand he is the only one who really needs to be motivated funny dilemma isn`t it

Thoughts?

THANKS,
Neil

 

[ChrisDavies]

It should be enough that they can have a meal or a movie without resorting to extra cash. I`d also give one to all three.

 

[dwb]

Hi Neil,

I would do all three for sure... & I also agree with Chris Davies above. Just make sure you CLEARLY say that this is a gift for the timely payment of rent. Rewards good behaviour, & for the last three months they`ve shown good behaviour.

It`s not much really considering they are paying down your mortgage each month and helping you build thousand`s of dollars worth of built-up equity.

Hope this helps, & best of luck with the triplex going forward.

DWB

 

[Nir]

Thank You DWB and Chris, really Great advice!

I will do that tomorrow morning..

Regards,
Neil