We believe that signs of appreciation go a long way in reducing vacancies and building a trusting property management-tenant relationship. Every summer we hold a tenant appreciation picnic at the park next to our office. This gives us an opportunity to interact with out top tenants in a more casual environment, and provides a more personal connection when they’re able to place faces to the names of people in our office. Even if a particular tenant is unable to attend, the invitation makes them feel as though they’re part of a community. We’ve had many tenants tell us that the top reason they never move is because with us, they feel like family.

I think a good one that we do for some of our properties upon turnover is give a free apartment clean. Tenants really like this because the apartment smells brand new after the cleaners are finished, and all the areas of the apartment look new, and there is less clutter around the apartment. It is a very inexpensive, but effective way to show the residents we care, while not breaking the bank. A typical cleaning costs no more than $150, so it is not a large part of the budget, but it has lasting effect for weeks with the tenants.

Landlords can show appreciation for their tenants right from move-in day with a welcome package. The package can include some home essentials like toilet paper, cleaning supplies, a scented candle, even a 6-pack of beer or a bottle of wine (provided your tenants are 21 years old) or a gift card to a local coffee shop. Some landlords go above and beyond the one-time welcome package and send care packages of cleaning supplies monthly. Small gestures like this ensure tenants feel appreciated and thought about. As an added benefit, landlords who make these gestures report that on average their units are left in better condition when their tenants eventually move.

Don’t just think end of year. Your tenants are your customers. A purposeful loyalty campaign will result in making your tenants “evangelists,” touting praises about your complex. We all know word of mouth is the best form of advertising and the least expense. Consider a points program, like airlines and hotels provide, where tenants earn points for their behavior for being a good tenant or neighbor. This could include welcome points for signing the lease, making on-time payments, providing suggestions as to how to improve the complex, referring new tenants, for community involvement, for reporting any occurrence that could be a hazard, and more. Consider using a third-party loyalty provider to help save time and money. They can develop programs designed to appeal to your tenants, host the points system and have a plethora of awards for your tenants to choose from.

Most small business tenants equate renting the commercial space they are in to renting a residential property, so I like to do the same things to show appreciation to a commercial tenant that a residential property manager would use. Offering to clean the carpets every year, or when the lease is renewed, goes a long way. Another idea is to give the tenant potted plants for their suite or entrance. I once had a new tenant that was consistently late in paying their rent due to startup cash flow issues, and when they finally became current and kept current, a few potted plants as a gift was very much appreciated by the tenant.

Coffee plays a huge part in building relationships. A membership to something like Cups app, will constantly remind your tenant of your gesture. Cups app offers prepaid monthly coffee that your tenant can pick up at local coffee shops every morning. A prepaid subscription means they can just stroll into a local coffee shop and tap their phone instead of paying. Alternatively, you can give them a different kind of club membership if your tenants are not too fond of coffee.

One great way to endear yourself to your tenants is to make the children happy. Your tenants with kids will really appreciate your gesture of surprising their children with gifts for the holidays. Find out what your tenant’s children like and coordinate with a local toy store in order to purchase the toys. One landlord went to the local Toys “R” Us store and paid off every purchase that his tenant (a single mom who always paid her rent on time) had on layaway so that her kids could have a good Christmas. You can also anonymously refer your qualified tenants with children to Toys for Tots, a charity program sponsored by the U.S. Marine Corps.

Gifts to tenants, are, after all, partially tax deductible so why not give the ultimate gift and take money off their next month’s rent? This approach is by far one of the most effective since it translates to giving your tenants an opportunity to save. Tenants love this, more than any other type of gift, especially during the holiday season. Add in some creativity in the way you share the information with them. It can be a nicely worded letter, or perhaps a holiday greeting card with a discount certificate.

If you are planning an upgrade for your units, plan it around a gift-giving time to use it for both purposes. This will certainly work well to promote goodwill because repairs and renovation can be expensive. Offer to paint a room and let them choose the color, upgrade an appliance, or even add patio furniture to the outdoor space.

One of the best ideas to maintain a great relationship with your tenants is to be inherently thoughtful. Track tenants’ birthdays and key anniversaries, and send them a card or a small gift. It should be easy to do this with the personal records you obtain during their application, and add a reminder on your calendar so you don’t forget. Send your tenant a $10 voucher to a local restaurant along with a birthday card to say that you remembered their special day.

Most tenants genuinely like it when they’re given a simple tool kit like a plain hammer and screwdriver set or a multitool kit. A gift like a home repair kit can give a sense of empowerment. It also is a nice way to show them that you want them to hang pictures and be proactive about maintenance. Add this along with your welcome gift basket to show that you trust them. They might try to fix a loose doorknob themselves now that they own a screwdriver which would definitely take a load off your own time.

Mix it up by adding something unique in your calendar instead of the usual events year after year. If you look closely, there are other events that can easily give you a brilliant idea in terms of tenant appreciation. If it’s National Oatmeal Month (January), distribute packs of oatmeal for a healthy breakfast as residents leave for the day. For Earth Day (April 22, 2018), distribute a small potted plant or seedlings. For National Preparedness Month (September), partner with local responders for a first-aid kit giveaway.

Movie tickets are fairly inexpensive, and giving your tenant tickets to a popular movie will certainly make their day. Giving them an opportunity to spend leisure time with their friends or family after a day of paying bills can be a big deal – especially if your tenants have kids. If you’re feeling extra generous, throw in free candy or popcorn which you can arrange with your local movie theater to make their experience extra special.

A great gift, perhaps to celebrate a lease renewal, is a nice bottle of wine or sparkling cider. If your tenants are under 21, you can replace this with a non alcoholic beverage that’s equally festive. If you’d like to make it even more special, you can always personalize it with a custom themed label branded for your property management company.

Useful gifts are always the best because those are the ones that leave a lasting impression. When the weather turns cold or during the holiday season, giving your tenant a fleece throw or a blanket as a gift will be well received. Amazon sells these for less than $25 and are great, thoughtful tokens. You can also have it monogrammed or custom labeled for your property management company to give it a more personal touch.

Want to make sure you get the best tenants for your property? Check out Fit Small Business’ article on the best tenant screening services.