While landlords are busy finding new tenants and managing the trouble tenants, sometimes they forget to stop and make sure they are recognizing good tenants. A good tenant is one that pays on time, follows rental rules, keeps common areas clean, and refers other good people. There are ways for landlords to keep good tenants by offering incentives.
It’s more expensive to gain new clientele than it is here to retain a current customer, so keeping an existing tenant makes more financial sense. By the time you advertise, screen a potential tenant, clean and repaint a unit, it would have saved time and money to keep the good tenant you had. When you offer yearly incentives before their lease is up, it’s a win/win by making the renter