As a landlord, you may deal with complexity when your tenants ask to install a hot tub on your rental property. While it is a matter of fact that it can lead to the best tenant satisfaction and cost savings, hot tub installation has probable risks. If the hot tub malfunctions or contributes to damage to the property, you may be left with costly repairs and legal disputes. Besides that, poor tenant maintenance can bring on hygiene concerns or safety hazards.
In this case, before choosing to permit it, it’s relevant to assess all the plausible risks and benefits of allowing your tenants to install a hot tub. Think of carefully consulting with legal or insurance professionals to nail down that you are secured in case of any issues.
For property owners, deciding if tenants can have a hot tub rests on various factors. There are sound reasons for allowing or not allowing it. Here are a few considerations for each option:
Reasons to Allow Tenants to Have a Hot Tub:
- Attracting and Retaining Tenants: Providing amenities such as a sauna bath can make your property more appealing to potential tenants, allowing you to charge higher rent and retain tenants for lengthy periods.
- Increased Property Value: Installing a hot tub can magnify the overall value of your property, which can be desirable if you plan to sell in the future.
- Competitive Advantage: In most rental markets, installing a hot tub can give your property a competitive edge over others, helping it to be outstanding and get rented more quickly.
- Tenant Satisfaction: Tenants who want the luxury of a hot tub may be quite happy with their living arrangements, which could lead to fewer complaints and great relationships.
Reasons Not to Allow Tenants to Have a Hot Tub:
- Maintenance and Costs: Hot tubs mandate regular maintenance, particularly cleaning, water treatment, and prospective repairs. You may need to handle these costs or pass them on to your tenants, which could dishearten particular 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 secure additional insurance coverage to keep yourself safe and sound.
- Potential Property Damage: There’s a risk that the sauna bath could damage the property, by way of illustration the deck or plumbing, which may actually cause costly repairs.
- Local Regulations: Various local municipalities and homeowners’ associations may have regulations or restrictions on setting up and using hot tubs. It’s advisable to check and keep up with any such rules.
- Increased Utility Costs: Hot tubs consume electricity and water, which could provoke higher utility bills. Choose whether you or the tenant will cover these costs.
Assume you are contemplating allowing your tenants to affix a hot tub on your property. In this case, there are several salient issues to consider particularly ownership, the lease agreement terms, the removal and restoration process, cost responsibilities, and the approval process.
Laying down guidelines and rules in the lease agreement is especially suggested if you come to a decision to permit hot tub installation. This can include significant issues, for example, maintenance and repair, responsibilities, and usage restrictions, which are really important to ensure the safety of your tenants and protect your property.
If you’re managing rental properties in Killeen and would like more insight on how to write your lease agreement, the Killeen property managers at Real Property Management Apex can help. Contact us online or call us at 254-732-1599 today.
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Originally Published on July 3, 2020
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