In the last edition of API magazine there was a feature about rewarding good tenants with gifts or rent-free periods over Christmas. While I see the merits of doing this in circumstances where the tenant has gone above and beyond like taking initiative to fix items instead of asking the property manager to repair an appliance or replace a small defect, it seems like a luxury for those who do need the rental income to stay afloat, or tenants who, as crass as this sounds, are ordinary (they keep the place tidy, don't complain about issues too much, and pay rent on time). I try to increase the rent slightly ($5-10) on each lease cycle if the market allows, and granting a weeks free rent for example would undo the point of rent increases. I see rental properties as a largely business transactions - the tenant has a place to call home in exchange for rent. If you have an exceptional tenant, how do you thank them? Do you send gifts or seasons grettings to tenants generally? Curious to know what other landlords do.