Ideal Holiday Gifts For Toronto Landlords to Buy For Tenants

The holidays are just around the corner. Whether your tenants celebrate Christmas, Hanukkah, or nothing in December, it is always nice to get them a small gift around this time – especially if they are good tenants. Generally, you’re looking at a budget of about $100 for a gift card, small gift, or even just cash in an envelope. 

Why you want to give holiday gifts

After being in the property management game for years, we can tell you that your relationship with the tenant is more important than anything else. You want them to feel like they can talk to you if something happens like a job loss or a similar setback. 

A lack of communication can lead to you not knowing about these types of things until rent is missed or other issues arise. It doesn’t mean you have to constantly be in each other’s business, but you want them to feel like you care about them – and this starts with genuinely caring about them like you would for a work colleague or a friendly acquaintance. A holiday gift is a great way to show that you care. 

Neighbourhood shop and restaurant gift cards

Buying local, especially in tough economic times, can give local shops and restaurants a much-needed boost. If you are familiar enough with your tenant’s interests, get them a gift card for a shop local to your property. If you don’t really know them that well, a local restaurant gift card will do. Sometimes, there will be a local Business Improvement Association (BIA) that offers a blanket gift card for a number of shops and restaurants in the neighbourhood – these are ideal for everyone. 

Gift recommendations for higher-end properties 

If you are renting out a higher-end property, get your tenant a higher-end gift. Where you would spend about $100.00 on a gift card for those paying standard rent, at least double it for someone who is renting a luxury property. 

Last-minute gifts

If you have to do the rounds at the last minute because you’ve been too busy, opt for something quick from the pharmacy or grocery store gift shop rack. Grocery gift cards will probably be the most appreciated gift with the current cost of food. 

Gifts for families

You may want to go a bit above and beyond your budget if there are children involved – maybe a $100.00 value gift for the parents in the form of a grocery or local gift card, and a $50.00 gift card for a toy store to help them put a little something extra under the tree. 

Gifts to stay away from 

Stay away from the more traditional gifts of turkey or ham. If you want to give food, get an assorted food basket with things that won’t take up space in what is already a full fridge for the holidays. Additionally, if you don’t know your tenant’s dietary restrictions, you may be handing a turkey to a vegetarian. 

The same goes for alcohol – while a bottle of wine is a nice gesture, you may be giving it to someone who doesn’t drink. Stick to gift cards to be on the safe side so your tenant can pick out what they like. 

Don’t give rent discounts

While we’re all full of the holiday spirit, you’re still running a business. Don’t give rent discounts as holiday gifts because it could confuse issues with the Landlord and Tenant Board if you ever run into any trouble. While some landlords like to give December or January rent discounts, give it to the tenant in the form of a cash gift if you want to go this way. Continue collecting rent as usual on the right dates. 

Should I buy gifts for problem tenants?

It depends on how much of a problem they are. If you are in active eviction or other LTB proceedings, obviously a gift isn’t necessary. However, if they simply complain about the odd thing here and there, a holiday gift can go a long way towards improving your relationship. 

I don’t want to give gifts

If you can’t or don’t want to give gifts, at least give the tenant a card. It all goes towards that important relationship building. Even some landlords can’t afford extra around the holidays, and your tenants will understand if this is the case. Most don’t expect gifts from their landlord. 

If you don’t want to handle the day-to-day business of being a landlord, give us a call! We can take all of the stress away by handling tenant screening, rent collection, and all of the other day-to-day operations. Our property management services are probably the best gift you can give to yourself this holiday season. Contact us today!