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Christmas Cheer and Tenants |
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| Hi,
As we
get close to the end of the year and Christmas, and
we think about buying gifts for our loved ones, I have
been asked by a few investors do I send cards or presents
to my tenants.
My thoughts
on my relationship with my tenants are:
I
want to keep a respectful distance generally with them,
but also treat them properly as human beings that are
living in my property. I know some landlords send a
welcome card to new tenants, and some leave say bottle
of wine for them on arrival. Others clearly self manage
and then have closer relationship with them. I have
left a card, and wine myself – this will depend
on the tenant profile – but I think can be a good
gesture. I personally would not leave my contact number
though – I know some people will write on the
card, any problems with the letting agent, call me directly
– but for me that is unnecessary, and could affect
the relationship between you, the tenant and the letting
agent.
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I
do however like to reward my good tenants –
for example if I have a tenant that has been in
one of my houses for 4 years, and looked after
the house paying rent on time, and reported very
few maintenance issues, often even doing some
of them themselves, I would not rush to put the
rent up, as I want them to stay another 4 years! |
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It
does frustrate me sometimes with some investors who
are reluctant to ever make any improvements to their
property, and then want to increase the rent every 6
months! Our management company have actually given back
the keys to some properties to landlords who have refused
to keep the property to the standard we expect for our
tenants.
This Christmas
I will be sending cards to each of my tenants –
and any tenant that has been in for more than 6 months
and is up to date with the rent I am sending £20
in the card to go towards anything they want at Christmas.
Now out of around 80 properties, this will be to around
40-50 tenants – so around £800-1000 in total.
Some of you may be thinking that is unnecessary, and
some may think is not enough – but for me this
is worth doing, as is a small show of appreciation to
my tenants who in effect have successfully helped me
run that house effectively this year ie they have helped
that house run as a successful business.
Now 1-2 tenants
will be getting a different type of letter from me –
as they have not helped my running of a successful business.......but
fortunately the vast majority are on side!
I hope you find
this useful – and this helps when looking at your
relationship with your tenants in your buy to let business!
Best Regards
Alan Forsyth
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Alan
Forsyth runs the two websites at www.propertysecrets.net
and www.property-investment-deals.com and send
s out weekly newsletters to over 80000 subscribers
– sign up for free at both sites –
and you will receive a fee 7 part course “7
Fatal Mistakes to Avoid as an Investor”!
He is considered an expert on UK and Overseas
property markets, and also writes for several
property magazines and gives free consultations
to investors – for more information, email
info@property-investment-deals.com or call 0115
9853969.
To
enquire further, and receive our free copy of
“7 Fatal Mistakes to Avoid as an Investor”
sign
up here |
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