Adding Features to Your Rental
Adding additional features to your rental home, be it as small as an alarm system or as large as a pool, can certainly increase the pace at which it rents. But, there is one thing you need to be clear about with your renters – whose responsibility it is to care for it!
Caring for a rental feature can not only mean maintaining the function of it, but absorbing any cost that may be associated with it. As an example, let’s go back to that alarm system. You put one in and tell your tenant that it is their responsibility to pay for the service. Ok, what if it breaks, who will need to fix it. The same thing can be said for irrigation systems, pool pumps and more.
Tenants can, and have, successfully filed lawsuits over broken features of the home that were presented as a rental feature to them when they viewed the home. Take a lesson from our professional property management team here on the Gulf Coast and be very clear about the operations and expenses of your income properties features.
Tags: Owner Tips