Looking to buy your tenants a gift this year? Wondering what's appropriate? Look no further.
Why Do It?
Encouraging positive relations is always a good thing. If your tenants have been good all year, always paid rent on time, kept the property in good shape and plan to remain for another year, then giving them a small gift will be appreciated. Proactively building positive relations can help encourage them to continue caring well for your property and be more understanding when you are unable to resolve issues straight away. Goodwill usually reflects goodwill.
Gift Ideas
Are tenant gifts tax deductible? Yes gifts certainly are, with a limit of 50% deduction. Though there’s no need to go overboard to impress your tenants. Gift baskets, flowers, a bottle of wine, or a supermarket gift card would all be considered great gifts. Another idea is offering to improve their home with a fresh coat of paint or a new appliance – not only are you giving your tenants a great gift by improving their home but you’re also increasing the value of your investment property – win-win!
Note, we recommend you always seek independent tax advice regarding financial matters.
Bottom-Line
The choice is up to you, most tenants don’t expect gifts so they usually won’t feel like they’ve missed out if you decide against it. However going that extra mile with a Christmas gift will go a long way in building positive relations.
If you're considering Property Management in Wellington get in touch today. Locally owned and managed, we take care of investments, offering peace of mind and a personal service to investors and tenants alike. Our solutions are backed by industry-leading technology and proven systems that promote both excellent property care and strong investment returns. Taking on all aspects of the landlord’s role, we guide our clients with professional, tailored advice using our extensive experience and insight in the rental market that can only be built over time.
Quinovic Johnsonville | Wellington
Call Jordan Atkinson - 027 297 0873
Quinovic Hutt Valley | Wellington
Call Helen Vance - 027 487 8103
Quinovic Kent Terrace | Wellington
Call Jordan Atkinson - 027 297 0873
Quinovic Wellington Property Managers