Even my family thinks I’m wacky and don’t think things through. They’d be wrong though. I overthink things usually. Then I come up with solutions that are just a bit outside the box for most people. I’m fine with that. It matters to me more that I follow my heart than I follow a script.
With that in mind I just informed my potential renters that if they are good tenants I would consider a reduction in rent if they opted to stay past the 6 months and signed another lease. We could even revisit the cost savings in 4 months. That seems more than enough time for everyone to know if it’s working or not.
The way I see it, it’s like applying for a job. The incentive for a bonus or salary increase is huge. It’s about retaining good employees, right? Good, loyal employees to a business are absolutely vital. Well. I’m just using the same theory here.
If this situation works for them too then I will gladly consider a reduction in rent. I’ve never respected landlords who consistently raise the rent. It’s a complete afront to a good tenant.
This seems more than fair to me and I’m happy to do it. If it works out great. They seemed to like the idea too, so we will see.