Tenant Newsletters

[Aldo]

About 6 years go I did something than landlords rarely do. I ran out of stuff to do during office hours and had to kill time by doing something. It was then that I created a quarterly tenant newsletter. It was a single page that said approximately nothing . (Contrary to demand, I've now limited it to three pages.) The response was unbelievable. Almost immediately my move-out rate dropped by about 50%. I had one tenant tell me that, in over 50 years of renting, I was the first landlord that regarded her as more than just a check on the 1st of the month. Recently I've gone a step further by making the newsletter required reading. This enabled me to serve proper legal notice that tenants may only pick their noses on Tuesdays (or whatever).
I encourage LL's everywhere to consider such a newsletter. It's not hard to do, but it does eat a bit of well-expended time. If it wasn't worth the effort, would I have done this for 6 years? I don't think so.
Anyone who would consider doing this should at least give it a shot. I will gladly mentor anyone wishing advice and will snail mail a copy of my most recent newsletter to an address you provide. If you're new to this site and can't find my eddress, it is askaldo@wi.rr.com.

[Dan Auito]

Great idea Aldo sort of the extended brainwash report from the landlord above. Hee Hee No really if you could sindicate a letter that would apply to landlords all around the country I think you could have a viable little service that could help both landlord and tenant alike. Any takers on the mentorship offer folks? Thanks for another proven strategy in keeping tenants happily in line Aldo. :SM058:

[Nancy (MI)]

I use to have a Newsletter. Did it twice. Spent a lot of time putting it together. Had a Children's page that included educational material like "Know Your State, and coloring book page where kids could color the picture, a recipe page, a joke page and of course the first page and Headlines would be for Announcements, reminders, etc.

After 3 months I sent a letter to everyone to let me know if they liked and were enjoying the Newsletter. Only one person responded.

I had hidden in the Newsletter (to see if it was being read) one sentence in it that stated, "If you are reading this sentence you will receive $5.00 off of your rent next month, by notifying me that you spotted this sentence". No one responded. I stopped the Newsletter and no one cared.

The next year I tried it again. I offered drawings and prizes to the Tenants, Holiday greetings and the works, and no one cared.

I stopped the Newsletter and saved myself, paper, ink, time, and stamps.

I loved the Newsletter personally, because I enjoyed working on it. But no one appreciated it. Really sad . I still think about doing it just because I love doing it. But I hate to invest money into something that isn't working in my area.



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[Aldo]

Dan, I've considered doing exactly as you suggested, starting on a local basis. Due to my standard content which includes welcoming new tenants, birthday wishes to tenants and other local issues, I'd probably have to create a custom letter for each landlord, not to mention LL's out of my area. I have properties in three adjacent cities and even that is often a problem. If I were to do a letter so general that it would apply everywhere, it would be rather dry and, as a result, not well-received.

Nancy, I wish I could see one of your old newsletters. Your writing abilities make me look like one of those 'stone and chisel' people. I'm sure I could glean some great ideas, but I ain't about to do a coloring book type page. The local kids prefer walls for that activity.

More Nancy, I have to disagree about the lack of appreciation. Tenants never seriously thank LL's for anything. But, I know they read the letters and do enjoy them based on their replies to test questions as well as info I get from my spies. That, of course, is most tenants - not all. The 'proof of the pudding' is that I have a lot of requests from non-tenants for copies of it. So, I guess it can't be too terrible.

Still more Nancy. It costs me about $50 quarterly to print and send the letters. If it makes one tenant, just one, decide they have a cool LL and don't move, I will reap a 27% return on my investment based on my average rents.

More Nancy yet! This thing doesn't take a lot of time. My first few (one-pagers) took me a full month of evenings to complete. Having had a little experience, I'm doing a three-pager in a matter of days.

Lastly, I received an email request for a copy of the newsletter with no info about where to send it. I may be psycho, but I'm not psychic.

[Dan Auito]

As usual Aldo you leave us with a belly roll! Thanks for the insights. :icon_verw

[karlpie]

Dan, that is a great idea. I have to tell you that the trick to doing this kind of thing is to CONTINUE on with it. Once or twice or even three times won't cut it. People are people and you're just not going to get to them all in only three attempts. If one continues, religiously, to send these newsletters out month in and month out, it will catch on and the tenants will begin to look forward to receiving them. Sending a newsletter is just unheard of being sent to tenants but if you continually keep at it and remain loyal to this task at hand, it will reap its own benefits. The landlords that make an effort to stay in touch with their tenants often find that their tenants are much more loyal and devoted to their landlords .... just for having gone that extra mile for them!

I'm sure if one were to start a newsletter and keep at it, it will reap its benefits for you!

[Dan Auito]

I have found by giving them very nice places at fair rents while fixing things fast when they break and enforcement of the rules with compassion, that things work out very nicely about 95% of the time.

I think if tried to write them a newsletter they would be buying houses! I want them to succeed but I also need tenants! EEEK :SM001:

[Aldo]

I do everything you do PLUS provide newsletters and I still don't have a 95% success rate.

[karlpie]

Dan,

I'll take you up on your mentoring of these newsletters. I noticed you mentioned that if you sent newsletters to tenants you fear you'd lose them as tenants as they'd want to buy a home. Honestly, maybe some of them would feel that way but I happen to know that there is a huge market out there of people who choose NOT to purchase a home. They only want to rent where they live and will not change their mind on it. I don't know why .... maybe it's convenience but for whatever reason, there are people out there that only want to rent or lease so if that's the case, I'm sure you'd still have an ample amount of people to choose from that you could rent or lease to. I don't think the newsletter would make your tenants want to buy a house unless, of cours, you're writing information on buying or purchasing a home. If you keep your newsletter content basic, generic, and geared towards living in their community and maybe areas of interest for those areas, I don't really think that you'd lose them to that concept. :cool:

There are many web sites out there now that are making community news and events available to anyone who wants it. They merely have to go to these sites and read up on anything they may want to know about. They can also submit recipes, helpful hints and tips and lots of other stuff. Most of these are being made available through realtors in the area and they seem to be catching on.

But, I'm game, Dan. I'll take you up on your offer on mentoring me for newsletters.

[Dan Auito]

Hey Karen, I don't remember any offer of mentoring for newsletters? I think Aldo would be the man as he has done them previously!

I may have spoke to soon about running tenants off to buy there own homes because sometimes realtors will have apartment complexes which they use to collect potential buyers of real estate.

As they help tenents get qualified for loans they then show them homes and collect commissions and big paydays if they sell their own rehabs to their tenants, then they give referral incentives to current tenants to find replacements for the folks they have helped to own a home of their own.

Pretty neat ahy!

[Aldo]

I have the utmost respect for Dan as a person and I truly believe that he actually is one. But, his replies are sometimes another issue. I've had huge succeess with my tenant newsletters and I've certainly never had a tenant buy a house because they got my newsletter(s).

I'm sure you've read this entire thread. If not, that's your next project. From that, you will see my offer of a copy of my most recent tenant newsletter upon request. I'm not hard to find since my e-dress is readily available here or, if you prefer, you can PM me and I promise a reply within 24 hours unless I'm the subject of an unplanned autopsy. Note that the newsletter is done with software you probably don't have, so it will have to be sent by snail mail.

[karlpie]

OOOPPPPS!

Sorry, Dan. Got confused. OK, Aldo, I'll take you up on it .... if you're game!