As a landlord, you may encounter a concern when your tenants ask to install a hot tub on your rental property. Though it’s true that it can set off better tenant satisfaction and cost savings, hot tub installation has likely risks. If the hot tub malfunctions it will result in damage to the property, and you may be left with costly repairs and legal disputes. Also, poor tenant maintenance can cause hygiene concerns or safety hazards.
Before coming to a decision, it’s vital to look into all the prospective risks and benefits of allowing your tenants to install a hot tub. Ponder on consulting with legal or insurance professionals to warrant you are safeguarded in case of any issues.
For property owners, deciding if tenants can have a hot tub is influenced by a number of factors. There are solid reasons for allowing or not allowing it. Here are different considerations for each option:
Reasons to Allow Tenants to Have a Hot Tub:
- Attracting and Retaining Tenants: Presenting amenities, for instance, a sauna bath can make your property more appealing to potential tenants, letting you charge higher rent and retain tenants for protracted periods.
- Increased Property Value: Installing a hot tub can increase the overall value of your property, which can be positive if you plan to sell in the future.
- Competitive Advantage: In quite a lot of rental markets, attaching a hot tub can give your property a competitive edge over others, helping it to be noticeable and get rented more quickly.
- Tenant Satisfaction: Tenants who like the luxury of a hot tub may be happier with their living arrangements, which could lessen insignificant complaints and happier relationships.
Reasons Not to Allow Tenants to Have a Hot Tub:
- Maintenance and Costs: Hot tubs necessitate regular maintenance, such as cleaning, water treatment, and probable repairs. You may need to assume these costs or pass them on to your tenants, which could dissuade a number of renters.
- Liability and Safety Concerns: Hot tubs can pose safety risks. There is a risk of accidents, injuries, or even lawsuits if someone gets hurt. You may need to get additional insurance coverage to fortify yourself.
- Potential Property Damage: There’s a risk that the sauna bath could damage the property, for example, the deck or plumbing, which may involve costly repairs.
- Local Regulations: A bunch of local municipalities and homeowners’ associations may have regulations or restrictions on providing and using hot tubs. It’s very important to check and respect any such rules.
- Increased Utility Costs: Hot tubs consume electricity and water, which could set off higher utility bills. Choose whether you or the tenant will cover these costs.
Assume you are taking into consideration allowing your tenants to put up a hot tub on your property. Then, there are several imperative considerations to bear in mind such as ownership, the lease agreement terms, the removal and restoration process, cost responsibilities, and the approval process.
Putting in place direct guidelines and rules in the lease agreement is highly suggested if you ever decide to permit hot tub installation. This can integrate major issues particularly maintenance and repair, responsibilities, and usage restrictions, which are critical to ensure the safety of your tenants and protect your property.
If you’re managing rental properties in Wolfforth and would like more insight on how to write your lease agreement, the Wolfforth property managers at Real Property Management Services can help. Contact us online or call us at 806-853-6546 today.
Originally Published on July 3, 2020
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