Would you pay your tenants to take good care of your property? This Letting Agent would. | Discuss

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Would you pay your tenants to take good care of your property? This Letting Agent would.
12/02/2015
10:37 am
News @ Tenant Referencing
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A Dublin Letting Agency has approached the market with a new, friendly approach by offering tenants a financial reward if they take good care of their rented property.

Conor Battigan, the brains behind Tenant Ready, said:

“I’ve been in the property business for over 10 years in different guises, I also am a tenant and have a property that I let out,” he explained. “Over the years, I’ve found that if you’re rewarding people instead of threatening to take away part of their deposit, people are more likely to work with you.”

Battigan decided that as charges and rents continued to rise for tenants a financial carrot might be more effective than the financial stick of losing money from their deposit as an incentive for tenants to keep their home in good repair.

Under his reward scheme, tenants who look after their property and abide by their lease will get 5% of a month’s rent back at the end of the year.

“Right now I have a family renting a four-bed house and every 12 months they get €100.

“It’s a win-win situation. The tenants are happy because they feel appreciated and the landlord is happy because if a tenant leaves after 12 months there’s very little work to be done in terms of redecorating.”

Let us know your thoughts. Landlords, do you feel your tenants would take better care of your property under this sort of reward scheme?  

12/02/2015
1:40 pm
ringi
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Would be interested to know who this effect deposit protection, as it is giving tenants money back depending on their actions.  

12/02/2015
2:30 pm
David Price
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ringi said
Would be interested to know who this effect deposit protection, as it is giving tenants money back depending on their actions.  

Potentially another good scheme which will be destroyed by legislation! Cry  With LHA tenants would any refund be immediately clawed back by HMG?

This is something I have never considered but will be trying in the near future.

12/02/2015
3:45 pm
ringi
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With LHA I think a voucher would be better then cash or something like cinema tickets.

It cannot be the amount of cash that has an effect, as it is only something like £30, so I expect it is more getting a nice “thank you” letter along with a meaningful gift that makes the tenant feel good about the landlord/argent.   The letter can enforce the good behavior you wish to continue.

12/02/2015
4:03 pm
Beth
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ringi said

It cannot be the amount of cash that has an effect, as it is only something like £30, so I expect it is more getting a nice “thank you” letter along with a meaningful gift that makes the tenant feel good about the landlord/argent.   The letter can enforce the good behavior you wish to continue.

I agree with this. As a tenant it’s very easy to see the landlord/agent as something that just takes a large wad of your money every month and treats you like a cash cow rather than seeing the landlord as a person trying to make a living. Most tenants don’t know landlords’ overheads or how much work they put in so small gestures go a long way to building respect both ways. 

One of my landlords gave my household (a house of 7 of us) a bottle of wine and box of chocolates every Christmas and used to bring round a box of tea bags at every inspection. They were just small gestures but they really altered our attitude towards our landlord. 

15/02/2015
11:09 pm
Patricia
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Its a good idea.  

04/11/2018
1:36 pm
Patricia
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I noticed that one of the councils has a small rent rebate scheme in place for good tenants .

On thinking about it further.

I have good tenants that have spic and span houses 

Also tenants that i have to keep repairing and their decorating skills are in question

This might be a good idea. 

23/11/2018
3:41 pm
sajnoor
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sounds likes a good idea

I work as property maintenance engineer and some of properties i go absolute filth whilst most tenants are decent some of them are really bad, i feel dirty entering the property to inpsect for maintenance.

23/11/2018
5:17 pm
Patricia
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I have had two tenants that i don’t think this would have worked on. 

My gas engineer found mice and other stuff. 

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