The following story is told in the introduction of the e-book How to Engineer Your Layoff. I am reprinting it because it serves as a powerful example of how simple, kind gestures can reap tremendous rewards (both relationally and financially). I'll talk more about this topic in future posts, but for now I just want to share the story of a generous lady who made a simple invitation and saved herself $1,200 a year!
Before I could hit send on an email to my tenant informing her I was raising her rent, an e-mail from her unexpectedly popped up in my inbox. Lucy asked me whether I’d like to be one of her VIP guests to opening night at the opera. As a member of the Board, Lucy could invite whomever she desired.
I am neither handsome nor famous, but for some reason, she chose me. As a VIP, I would get to attend a pre-party with cocktails and hors d'oeuvres. During the pre-party, we’d have the privilege of mingling with the performers and participate in their pre-performance warm-up routines for fun. I don’t know the first thing about opera, but I happily accepted her invitation to learn more about the art.
Because of the invitation, I decided not to raise Lucy’s rent from $3,300 to $3,400 a month. Despite an absolutely blazing rental market in San Francisco, where similar apartments go for over $3,500 a month, I couldn’t find it in my heart to raise the rent after her thoughtful gesture. No wonder property managers are hired to deal with tenants. Attending the opera for one night effectively cost me $1,200 a year! However, this experience strengthened the relationship I have with my tenant and also opened up a whole new network of people into my life.
Lucy doesn’t know that I was going to raise her rent, but she came out a winner with $1,200 still in her pocket just by reaching out and building a connection with me. The more you learn how to build lasting relationships, the greater rewards you will experience in your career, family, and personal life.
Good things happen to good people. She saved $1,200 without knowing it.
Posted by: Bridget | January 16, 2013 at 09:58 AM
You never know when a simple, kind gesture will reap big rewards. I think it is important to note that these types of gestures should be done expecting nothing in return. Every once in a while, you will be surprised with something similar to the above story!
Oliver
Posted by: Oliver @ Christian Money Blog | January 16, 2013 at 09:59 AM
I love this! A little off topic but I remember reading years ago of a man who went to Auscwitz (sp) and he told of the line walking by the infamous butcher Josef Mengeles. Mengeles, by the slightest hand movement decided each persons fate- left or right- life or death. The gentlemen recalled that this Mengeles was his neighbor from far down the street. He didnt know him tho. It was the mans custom to nod and greet daily all he passed by. He saw Mengeles and silently this man was hand motioned to the side where the people were put into labor and lived. There was no other communication between the 2 - just that hand gesture. I have always remembered that.
Posted by: daz | January 16, 2013 at 11:26 AM
I think making connections with others has a ton of benefits, especially financial. I know that I charge our tenant less for our rent house than we could get from someone else, but she is very sweet, clean, and takes good care of our house. That's worth the $100-$150 a month discount...
@daz, yeah, I can see how that story has stuck with you. I think it's going to stick with me from now on too. Glad I smile and nod to everyone...
Posted by: Crystal | January 16, 2013 at 12:29 PM
Such a great story--I recently read about landlords who were also shying away from increasing the rents of their tenants because those people had sent the landlord a small holiday gift. Saving $1,200/year or more because of a hand-written cards or some homemade cookies? Yes, please!
Posted by: The Happy Homeowner | January 16, 2013 at 02:57 PM
you got suckered lol!
never tie emotions to business /financial decisions -
personal finance 101
Be kind with people, don't be a fool - Chinese proverb - personal finance 102
Posted by: moronbuffett | January 16, 2013 at 08:29 PM
"never tie emotions to business /financial decisions" - completely disagree. have no idea of the purpose of money beyond the basic needs if this is true... some one who brings me happiness is worth $100/month to me... raise the rent on some *&!@ $200/month instead, if they leave all the better...
Posted by: Steve | January 16, 2013 at 09:59 PM
Long ago I had a customer service job. Those few people who didn't treat me like garbage from the outset got some amazing service. I couldn't reduce their price, but I could increase my speed or volunteer more information.
So yes, small gestures count everywhere.
Posted by: My Financial Independence Journey | January 17, 2013 at 05:49 AM
Lesson learned for this "landlord"/"property manager".. next time can start framing that he is just the property manager and that the "mean owner" has decided to raise rents.. among other rule's etc.. that need to be set..
Posted by: 30kto30million | January 17, 2013 at 09:52 PM
Good story. I think in general it's just nice to be nice, haha. Act with good intention but don't try to expect things in return though.
Posted by: Kin @ Journey of Success | January 19, 2013 at 04:56 AM