For example: Bryce offered a free iPad mini with the signing of a one-year lease. (You just write in the lease that if they don’t stay they have to give back the iPad mini or pay for it). It’s a great marketing tool!
Some people offer a free months rent or a portion of a month at the end of 6 mo or a year. If you do it in December its like a Christmas present or year end bonus and money is often tight for people then.
Never offer a free damage deposit as its wise to have a full damage deposit in place for cleaning or damages at move out.
Another interesting idea I heard of was a landlord who offered $1000 to the tenant at the end of each year that was to be used toward something to improve the property of the renters choice. For example, if they wanted $1000 towards new flooring, they wanted a new washer/dryer if the other ones weren’t working that well, or maybe fresh paint. It’s a win-win! The tenants feel more ownership of the unit and get to make it feel like their own. It’s also a tax write-off for the landlord and just keeps the property improved and looking great.
You can get creative and even though incentives cost a bit they are tax write-offs.
It beats having the place vacant and sets you apart from other rentals!
#TeamKander
#RentalIncentives
#HowToBeALandlord
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