Find out why Landlords should buy Christmas presents for their tenants
Living in rented property can feel unnerving, especially if the tenants don't feel that they have security in the property that they are living in. If the rug could be pulled out from under them at any moment, it can feel as if they are waiting for the worst to happen. So what could you do to show the tenants that they have nothing to worry about?
Put yourself in the position of your tenants for a moment.
The cost of living crisis.
A looming recession.
War.
Politics.
There's a lot going on.
Add to that uncertainty about the tenancy agreement. Are your tenants in a periodic tenancy? Are they confident they are safe in your property and won't have to find somewhere else and move out?
Living in rented property can feel unnerving, especially if the tenants don't feel that they have security in the property that they are living in. If the rug could be pulled out from under them at any moment, it can feel as if they are waiting for the worst to happen.
There isn't the surety that you get from owning a property. The confidence that the only way you will be forced to move is if you stop paying your mortgage or there is some kind of natural disaster.
Being a landlord means that your tenants are at the mercy of your life choices and whether you decide to sell the property they're living in one day.
On top of that, the property market is confusing.
The lack of available rental properties has increased the rent prices, meaning that some tenants can't afford properties they previously could have. And as we know, salaries have not increased at the same rate.
You likely have no intention of asking anyone to move out. You are probably thinking how comforting it is to know that your tenants are happy with the property you rented to them. Paying their rent on time each month, comfortable that they are settled and have made your house their home.
Unless you have some burning passion for selling up, it is likely your pension pot, and you will retire one day with their rent payment as a supplementary income.
So what could you do to show the tenants that they have nothing to worry about?
You could offer them a fixed tenancy agreement - give them peace of mind that they will be able to stay in the property and not be asked to leave without warning.
You could speak to them! It seems obvious, but most landlords go without speaking to their tenants for years. They only talk if there is a problem, and if the tenants are happy enough and pay their rent, they will only call you to tell you if something is broken.
So, this Christmas, why not call them. Spread a little Christmas cheer. Pop round with a small gift, a hamper or a box of chocolates. Just to say hello, nothing more.
You are not checking up on them, and it isn't a tenancy inspection - you don't even need to go inside the property. Just let them know that you are thinking of them and that they have nothing to worry about.
The peace of mind that this could give might be the most rewarding gift you give this Christmas!